Ripple's RLUSD Closes to Within $248M of PayPal's PYUSD in Market Cap

Ripple's RLUSD stablecoin hit a record supply, with market cap around $2.49 billion, up over 86% from $1.34 billion at the start of 2026, now just $248 million behind PayPal's PYUSD at about $2.74 billion. RLUSD supply rose about $112 million over the past week while PYUSD fell about $61 million; PYUSD is down roughly 35% from its March peak. XRP Ledger holds about 44% of RLUSD supply and Ethereum about 56%.