92% of $1.65B in RLUSD Swap Volume Traded Against XRP on XRP Ledger

Ripple USD (RLUSD) swap volume on the XRP Ledger’s native exchange totaled $1.65 billion through Oct. 20, 2026, with 92% of that dollar value traded against XRP. The percentage measures swap volume, not the number of individual transactions. A separate measure starts with XRP-denominated exchange volume and identifies the type of asset traded against XRP. Stablecoins and other fiat-backed tokens represented 86% of that volume through Oct. 20. Their share was 50% in 2025 and 10.5% in 2024. The exchange measure includes both order-book and automated market maker trading. The two percentages use different denominators. The 92% figure describes the share of RLUSD swap dollars matched with XRP; the 86% figure describes the share of XRP exchange volume matched with stablecoins or other fiat-backed assets.

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