DefiLlama reported that XRPL stablecoin market capitalization stood at $908.21 million, down 8.01% over the week. In contrast, seven-day DEX trading volume reached $35.14 million, rising 28.87% over the same period.
RLUSD Accounts for Most of the Stablecoin Decline
Based on the reported 8.01% weekly decrease, the XRPL stablecoin total was approximately $987.29 million seven days earlier. The difference represents a reduction of about $79.08 million, calculated from DefiLlama's reported figures rather than a separately confirmed total of withdrawals.
Most of the decline was associated with RLUSD. Its tracked value on the XRP Ledger fell to $818.56 million, a decrease of 8.75% over seven days. Despite the contraction, RLUSD continued to account for 90.13% of the network's stablecoin market capitalization.
Those figures imply that the value of RLUSD on XRPL declined by approximately $78.49 million during the period. However, the data does not establish whether the reduction resulted from redemptions, transfers to other supported blockchains or other changes in supply.
The figures also apply specifically to RLUSD on the XRP Ledger. They do not demonstrate that the stablecoin's total supply across all supported networks declined by the same amount.
XRP Ledger DEX Trading Activity Increases
While stablecoin value contracted, XRPL decentralized trading expanded. Weekly DEX volume reached $35.14 million, compared with an implied $27.27 million during the preceding seven-day period. That represents an increase of approximately $7.87 million.
Trading activity over the latest 24-hour period covered by the data reached $5.76 million.
The two indicators measure different aspects of network activity. Stablecoin market capitalization represents the value of outstanding tokens at a particular point in time, whereas DEX volume measures the value of trades executed during a specified period.
As a result, the same pool of funds can be used in multiple transactions. Higher trading volume does not necessarily mean additional capital has entered the network or that demand for XRP has increased.
RLUSD Transfer Figures Cover a Different Measurement
The latest figures also differ from previously reported RLUSD transfer activity across the XRP Ledger and Ethereum. Weekly RLUSD transfer volume reached $11.716 billion in the week ending November 1, with XRPL accounting for $6.699 billion, according to figures previously reported by The Crypto Basic.
Separately, the XRP Ledger processed $20.056 billion in RLUSD transfers during October, exceeding Ethereum's monthly total. These figures measure transfer activity across different periods and are not directly comparable with the latest seven-day DEX trading volume.
Stablecoin Balances Remain an Important Indicator
For XRP, rising DEX activity alone does not confirm stronger buying pressure. Decentralized exchange volume includes both purchases and sales, while stablecoin balances do not reveal how much of the available capital holders intend to use to acquire XRP.
A sustained increase in XRPL stablecoin balances alongside elevated DEX activity would provide a stronger indication that trading growth is occurring alongside an expanding pool of stablecoin capital. The November 13 figures, however, show higher trading activity occurring at the same time as a contraction in tracked stablecoin value.
source: thecryptobasic
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
