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Ripple USD (RLUSD), the stablecoin tied to Ripple’s ecosystem, has now officially made it to the biggest 100 cryptocurrencies byCoinMarketCap, reaching $687.7 million with a supply of 687.95 million tokens already in circulation.

Designed to match $1, RLUSD is holding its peg tightly, and with $84 million in 24-hour volume, it is now seeing daily flows comparable to some mid-tier altcoins that have been around for years, even though it was launched just this year.

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Its trading presence has quickly spread across both centralized and decentralized exchanges. Bitstamp, Kraken and Bullish are running active markets, while Curve and Uniswap have added decentralized depth.

According to CoinMarketCap, the most liquid books are onXRP and USDC pairs, each handling tens of millions of dollars in turnover, with smaller but still active flows seen against BTC, ETH and SOL. This distribution givesRipple stablecoin more reach than many expected in its early weeks, pointing to Ripple’s networking push to make it a useful settlement token.

Quick gainer

What stands out is that RLUSD, despite its newcomer status, is already sitting alongside other well-known stablecoins in terms of adoption. It now ranks just below PayPal’s PYUSD, which has a market cap of around $1.15 billion, and above smaller projects like FDUSD and World Liberty USD.

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The big players in the sector — USDT at $167.1 billion and USDC at $68.1 billion — dominate the field, but RLUSD’s climb into the same leaderboard shows it has scaled much faster than many other attempts at entering the $290 billion stablecoin market.