RLUSD, Ripple’s regulated stablecoin, has reached a new all-time high. Its market cap climbed to nearly $2.5 billion on September 22, according to reports. Tracker data from CoinMarketCap and RWA.xyz currently places it between $2.4B and $2.5B, keeping the ATH intact. At the same time, total stablecoin supply on the XRP Ledger (XRPL) jumped roughly 6% in a week to approximately $1.19 billion, per DefiLlama. These two data points together signal something broader: the dollar layer inside Ripple’s payments network is quietly expanding.