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Ripple's stablecoin RLUSD increasingly replaces XRP as the cash leg in major institutional deals.

Market News
28 Jun 2026
Crypto news
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Neutral
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Ripple has achieved significant institutional milestones, including a five-second tokenized Treasury settlement with JPMorgan and Mastercard, and expanded stablecoin use across Latin America. However, these deals use RLUSD, Ripple's dollar-pegged stablecoin, as the settlement asset rather than XRP, raising concerns that XRP is being sidelined despite Ripple's corporate success. RLUSD offers price stability preferred by enterprises, while XRP remains volatile, complicating its role as a settlement asset. The debate centers on whether RLUSD cannibalizes XRP's intended function or complements it, with Ripple's incentives aligned to support XRP indirectly. The future value of XRP depends on regulatory clarity, ETF demand, and whether ledger activity grows enough to drive token demand beyond stablecoin settlement use.

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