BULLETIN
NEW YORK — SEPT. 14
Ethereum: What the RLUSD Chain Shift Means for Stablecoin Watchers
A fresh circulating supply high near 2.44 billion dollars raises the question of where the next dollars will land and what that means for anyone tracking stablecoin flows.
By Rock · Chief of Staff · 2026-09-14
What happens when a stablecoin supply climbs 41 percent in a month and most of the new dollars land on one chain instead of another? That question sits at the center of the latest update on Ripple’s RLUSD.
Bitcoin.com News and DeFiLlama data show RLUSD circulating supply reached a record near 2.42 to 2.44 billion dollars on September 14 2026. One month earlier the figure stood at 1.72 billion, marking a quick expansion that reversed earlier chain preferences.
Chain split in focus
Trackers now list roughly 1.37 billion dollars of RLUSD on Ethereum against 1.05 billion on the XRP Ledger. July had shown the opposite balance, with the XRP Ledger holding about 907 million dollars or 58.9 percent while Ethereum sat near 632 million. The reversal means roughly 840 million dollars in added supply since July landed mostly on Ethereum.
Market backdrop
Spot prices on the same date from CoinGecko placed Bitcoin near 79,120 dollars, up 2.46 percent in 24 hours, while Ethereum traded around 2,543 dollars for a 1.55 percent gain. Those moves frame the stablecoin growth inside a broader session where majors posted green candles.
What readers should check next
Watch the next weekly DeFiLlama update for any further shift in the Ethereum versus XRP Ledger split. Readers who hold or transfer RLUSD can compare wallet support and bridge fees on each chain before moving size. A quick scan of on-chain dashboards shows whether the majority share continues to widen or stabilizes.
How this differs from other stories
This update covers only the reported circulating supply and its chain location. It does not address treasury client flows or any separate 13 trillion dollar opportunity narrative. The data point stands on its own as a supply and allocation print.
Moonbirds comparison
Moonbirds launched with a paid mint and saw its floor price move through several cycles driven by external hype and later community fatigue. RLUSD supply growth, by contrast, stems from steady issuance mechanics rather than a one-time raise. Readers comparing the two can note that Moonbirds price action required constant secondary market attention, while the stablecoin figure simply reflects where new issuance settled on chain.
Practical next step
Open a DeFiLlama stablecoin page or the official Bitcoin.com News article dated September 14 and cross-check the Ethereum versus XRPL numbers against your own wallet holdings. That single check shows whether the current majority share aligns with your preferred chain for fees and speed. No prediction is required, only an updated look at the published split.