Ripple Stablecoin RLUSD: The balance six months after debut is sobering.

Ripple Stablecoin: RLUSD – Half-Year Review After Debut – Disillusioning

In May, RLUSD was launched as a new stablecoin on the XRP ledger, backed by Ripple Labs. However, the half-year mark after the start of the supposed “superstablecoin” draws a sobering conclusion. The concept of RLUSD initially raised high expectations: RLUSD should not only secure against volatility like other stablecoins, but also have the potential to increase in value over time.

The financial backing for RLUSD is coming directly from Ripple Labs, which itself is under pressure due to ongoing legal disputes with the U.S. Securities and Exchange Commission (SEC). This situation and the lack of significant marketing for RLUSD are now evidently showing effects in use figures for RLUSD, as they do not create prolonged enthusiasm among XRP enthusiasts or other investors.

Currently, RLUSD’s success can hardly be measured in meaningful statistics, which could point to growing popularity. On relevant portals such as CoinMarketCap, RLUSD does not appear at all. On the decentralized exchange (DEX) Sologenic, where RLUSD should basically be tradable, there is little to no trading for RLUSD.

These facts support estimates made by the analyst Leonidas Hadjiloizou: primarily the traffic in the XRP ledger, more precisely in the XRPL.org Explorer, shows that demand for RLUSD has hugely underperformed. There, where transactions with the stablecoin RLUSD were recorded, they remain rare and the volumes meager.

In summary, RLUSD has not proven itself as a vibrant stablecoin in the first six months after its launch. The time factor alone will not put RLUSD in competition with established stablecoins such as Tether (USDT), US Dollar Coin (USDC), or Binance USD (BUSD). It seems crucial to aggressively and purposefully expand the use cases of RLUSD and put the emphasis on benefits it can offer in the XRP context to catch up on real relevance.