Ripple's RLUSD Hits $1.76B All-Time High on May 23, While PayPal PYUSD Growth Slows

According to on-chain data, Ripple's RLUSD stablecoin reached an all-time high supply of $1.76 billion on May 23, 2026, extending its rapid growth streak as institutional demand for regulated digital dollars accelerates. The milestone marks a significant jump from the previous high of $1.65 billion recorded just a day earlier.

Meanwhile, competing stablecoins from PayPal (PYUSD) and World Liberty Financial (USD1) appear to have lost momentum after earlier expansion surges. Recent data shows PYUSD's minting volumes and growth pace have cooled significantly through May 2026, while USD1 supply growth has flattened as traders rotate toward more liquid alternatives.