Ripple’s USD-backed stablecoin, RLUSD, has experienced significant growth, surpassing 240 million tokens in circulation. This recent surge comes after a single-day mint of 50 million tokens on March 31st – the largest issuance to date. Experts believe this may be driven by user demand and Ripple’s strategy of adjusting supply according to actual usage. While RLUSD trails leaders like Tether and USDC in market capitalization, it seeks to climb rankings through controlled increases. Ripple aims for a top five stablecoin ranking by 2025 and has indicated a focus on real-world finance applications for RLUSD. The stablecoin’s journey highlights the challenges of navigating the crowded stablecoin market dominated by established players. Ripple’s cautious approach of alternating between rapid issuance and deliberate pauses suggests a strategy to avoid oversupply while building trust. This contrasts with competitors whose constant token production offers less control and more risk, potentially impacting long-term sustainability.