Woofun AI reports that Ethereum has reclaimed dominance over the XRP Ledger (XRPL) in circulating RLUSD volume, a structural shift confirmed by on-chain records this Friday. The reversal of liquidity leadership occurred as Ripple accelerated minting operations on August 21, 2026, fundamentally altering the distribution balance between the two networks.

The current liquidity equilibrium reflects a significant operational redistribution executed over the preceding 48 hours. Ethereum now hosts $989.34 million in RLUSD, narrowly exceeding the $941.36 million remaining on the XRPL ledger. During Friday's trading session, Ripple's treasury minted 73.8 million RLUSD on the Ethereum network while simultaneously removing 23.5 million from circulation through burning contracts. In contrast, the XRP Ledger recorded the minting of 36.1 million tokens and the burning of 15.4 million, highlighting a divergent operational tempo between the two chains.

The intraday minting pace maintained a clear preference for the smart contract network during the morning of August 21, 2026. In that specific window, Ethereum added an additional 53.2 million RLUSD with 15 million destroyed, whereas the XRP Ledger added $12.5 million and burned 6.5 million. Analysts attribute these movements to technical adjustments aimed at balancing market depth between decentralized ecosystems and institutional custody platforms, ensuring optimal liquidity provision across distinct user bases.

Woofun AI data shows the stablecoin's global supply reached $1.939 billion on August 21, 2026, marking its highest level since its official launch in December 2024. The dual deployment of RLUSD was structured under ERC-20 standards on Ethereum and as a native asset on XRP Ledger. Technical documents from Ripple explain that this multi-chain setup seeks to enable corporate payment bridges without concentrating settlement on a single base layer, thereby mitigating systemic risk.

Capital distribution has alternated dominance throughout the year, with historical context revealing shifting priorities. In June 2026, XRP Ledger surpassed Ethereum for the first time in total issued volume, driven by integrations into cross-border payment gateways.

However, the stronger presence of decentralized finance protocols on Ethereum once again attracted the largest batches of institutional issuance this quarter. Among the transactions audited by the monitoring account on X over the last 24 hours, there were two minting transfers of 25 million and 20 million RLUSD directed straight to Ethereum contracts, accompanied by three consecutive issuances of $20 million, $14 million, and $16 million in the same environment. In contrast, XRPL processed a single minting order for $10 million during that period.

Market reports suggest that dollar liquidity demand within decentralized exchange platforms on Ethereum could sustain this gap in the short term, subject to corporate treasury rebalancing schedules. The next operational milestone for the asset will come with the publication of the August 2026 monthly reserve attestation report. This document will detail the cash and U.S. Treasury bill backing audited by independent accounting firms, providing critical transparency for institutional holders.