Ripple’s new stablecoin rollout has put a bright spotlight on a simple fact: most RLUSD is living on Ethereum right now. That imbalance has stirred worry among long-time XRP supporters.
Some feel the company’s heart might be shifting away from the ledger that gave it a base. Others say the move is practical and short-term.
Exchange Rollouts And Technical Gaps
According to Luke Judges, Ripple’s Global Partner Success Lead, the choice of which chain goes live first often comes down to plumbing — the systems exchanges already run.
He told followers that Ripple talks about XRPL every time it speaks with an exchange, and that many trading platforms have promised to add XRPL support.
Still, existing tools on Ethereum can make listings happen faster. That speed matters when liquidity and market access are the goals.
What The On-Chain Numbers Show
Reports note RLUSD’s circulating supply sits at roughly $1.45 billion across both chains. About $1.11 billion of that amount is on Ethereum, leaving around $337 million on XRPL.
That split — roughly 77% on Ethereum — is a big part of why people worry. Numbers are blunt. They shape how investors react, and they shape headlines. When a major exchange launches support only on one chain, the signaled path is hard to ignore.
Community Reaction And Company Tone
Binance’s decision to enable RLUSD trading first on Ethereum raised the heat. Many XRP fans saw that as proof of a preference. Judges answered that some launches are a function of readiness, not preference.
To ensure complete clarity: the RLUSD team consistently prioritizes the XRPL in every centralised exchange engagement.
While some exchanges may complete their Ethereum technical integration first, simply because they have existing infrastructure for that network, making it a…
— LJ (@luke_judges) January 29, 2026
He used plain language and made a short, clear point: Ripple “loves” XRP and the ledger it runs on. That line was meant to calm nerves. It did, for some. Others remain skeptical because commitments on paper do not always match activity on the ground.
What Comes Next For XRPL
What will settle this argument is data. If trading activity, transfers, and custody flows begin to move onto XRPL in meaningful ways, perception will shift.
If XRPL volumes stay small, the worry will grow. Exchanges can keep their promises. They can also delay. Some technical work will be needed on both sides to make the experience as smooth for XRPL users as it is for those on Ethereum.
Ripple’s message, at least for now, is meant to be simple and firm. Judges pushed back on the idea that his comments were an apology, saying there was nothing to walk back.
He framed the statement as a response to noise, not a change in direction. “We love XRP and XRPL” was not offered as a slogan, but as a reminder of where Ripple says its roots still sit.
Whether that sentiment carries weight will depend less on words and more on how quickly XRPL sees real growth tied to RLUSD in the months ahead.
Featured image from Unsplash, chart from TradingView
