BlockBeats news, September 28: The supply of Ripple's stablecoin RLUSD recently hit a new high, with a market cap reaching approximately $2.491 billion, up more than 86% from $1.336 billion at the start of 2026. It is now only about $248 million away from PayPal's PYUSD market cap of approximately $2.739 billion.Data shows that over the past week, RLUSD supply increased by about $112 million, while PYUSD decreased by about $61 million. PYUSD's supply was about $3.531 billion at the start of the year, briefly reached a peak of $4.214 billion on March 5, and is currently down about 35% from its peak.In terms of issuance networks, between September 21 and 28, RLUSD supply on the XRP Ledger rose from $1.036 billion to $1.099 billion, an increase of about $63 million; supply on Ethereum rose from $1.343 billion to $1.392 billion, an increase of about $49 million. Currently, the XRP Ledger accounts for about 44% of RLUSD's total supply, while Ethereum accounts for about 56%.At present, the total global stablecoin market cap is about $306 billion, and RLUSD still accounts for a relatively small share. Ripple has recently continued to promote the use of RLUSD on the XRP Ledger, including in scenarios such as institutional lending.