XRP Ledger Stablecoin Supply Jumps 100% Since December

TLDR

• Stablecoin supply on the XRP Ledger reached $568 million after rising more than 100% since December 2025.
• The number of wallets holding less than 100 XRP climbed to a record 5.66 million addresses.
• XRP open interest on Binance fell to about $372.6 million, the lowest level recorded since 2024.
• Stablecoin balances on South Korea’s top five exchanges dropped 55% from July to mid March.
• ERC20 stablecoin active addresses increased from 85,000 to 600,000 over the past year.

Stablecoin supply on the XRP Ledger has reached $568 million after doubling since December 2025. At the same time, small XRP wallets have climbed to a record 5.66 million addresses. However, derivatives data show open interest has fallen to its lowest level since 2024.

XRP Ledger Stablecoin Supply Jumps 100% Since December

Data from Artemis shows stablecoin supply on the XRP Ledger rose to $568 million. The figure reflects a gain of more than 100% since December 2025. The increase marks a new all-time high for the network.

At the same time, CryptoQuant data shows 5.66 million wallets now hold less than 100 XRP. This count sets a new record for small holders. The data shows retail participation continues to widen across the network.

Meanwhile, Coinglass data from Binance shows XRP open interest fell to about $372.6 million. This level marks the lowest reading since 2024. Earlier rallies pushed open interest above $1.7 billion when XRP traded above $3.

During brief market upswings in 2026, open interest averaged between $1.5 billion and $1.7 billion. XRP also moved above $3 during one of those runs. However, leveraged positions have since declined sharply.

South Korea Exchange Balances Drop as ERC20 Activity Surges

On-chain data shows stablecoin balances on five major South Korean exchanges have dropped 55% since July 2025. Holdings fell from $575 million in July to about $188 million by mid-March. The data covers Upbit, Bithumb, Coinone, Korbit, and GOPAX.

The decline accelerated after the won weakened past 1,500 per dollar in mid-March. The currency reached its lowest level against the dollar in 16 years. The rate had not appeared since the 2008 financial crisis.

Market data shows the Kospi fell 6.5% to 5,405.75 during the same period. The Kosdaq also dropped 5.6% to close at 1,096.89. Traders reduced stablecoin holdings as currency volatility increased.

Elsewhere, Artemis reports ERC20 stablecoin active addresses rose from 85,000 in March 2025 to 600,000 in March 2026. The change represents a 600% increase over one year. Activity has trended higher since 2024.

In supply changes this year, USDC added $4.5 billion, the largest increase among tracked stablecoins. In contrast, USDT supply declined by about $2 billion. Exchange reserves now total $65.37 billion after a 0.72% daily decrease.

Net outflows from exchanges have exceeded $485 million. The data shows funds moved into self-custody rather than exiting the market. Total stablecoin supply stands at $316.45 billion, up 0.17% on the week.

USDT supply rose 0.08% to $184.1 billion. USDC supply slipped 0.22% to $79.1 billion. These figures reflect the most recent tracked balances.

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