Ripple’s new stablecoin rollout has put a spotlight on a simple fact: most RLUSD currently live on Ethereum. This imbalance has long raised concerns XRP followers.
Some believe that the heart of the company may be turning away from the ledger that gave it a foundation. Others say the move is practical and short-lived.
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Exchange rollout and technical gaps
According to Luke Judges, Ripple’s Global Partner Success Lead, choosing which chain to go live first often comes down to plumbing: the system exchanges are already running.
He told his followers that Ripple talks about XRPL every time it talks to an exchange, and that many trading platforms have promised to add XRPL support.
However, existing tools remain enabled Ethereum can make listings happen faster. That speed is important if liquidity and market access are the goals.
What the on-chain numbers show
Reports indicate that RLUSD’s circulating supply across both chains is approximately $1.45 billion. About $1.11 billion of that amount is on Ethereum, leaving about $337 million on XRPL.
This split – around 77% on Ethereum – is a big part of why people are concerned. Numbers are blunt. They determine how investors react and determine headlines. When a major exchange only launches support on one chain, the path shown is hard to ignore.
Community response and corporate tone
Binance’s decision to enable this RLUSD Trading on Ethereum for the first time stirred up the excitement. Many XRP fans saw that as evidence of a bias. Judges responded that some launches are a function of willingness, not preference.
To ensure complete clarity, the RLUSD team consistently prioritizes the XRPL on every centralized exchange order.
While some exchanges may complete their technical integration with Ethereum first simply because they have existing infrastructure for that network, making it a…
— LJ (@luke_judges) January 29, 2026
He used clear language and made a short, clear point: Ripple “loves” XRP and the ledger it runs on. That line was meant to calm the nerves. For some that was the case. Others remain skeptical because commitments on paper do not always correspond to activities in practice.
What comes next for XRPL
What will settle this argument is data. As trading, transfers, and custody flows begin to move toward XRPL in meaningful ways, perceptions will change.
If XRPL volumes remain low, concerns will increase. Stock exchanges can keep their promises. They can also be delayed. There will be some technical work required on both sides to make the experience as smooth as possible XRPL users as it is for those on Ethereum.
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Ripple’s message, at least for now, is meant to be simple and powerful. Judges pushed back on the idea that his comments were an apology, saying there was nothing to walk back.
He interpreted the statement as a response to noise, not a change of direction. “We love XRP and XRPL” was offered not as a slogan, but as a reminder of where Ripple says its roots still lie.
Whether that sentiment carries weight will depend less on words and more on how quickly XRPL sees real growth linked to RLUSD in the coming months.
Featured image from Unsplash, chart from TradingView