Tiny Transfers Dominated RLUSD-Coded Payments on XRP Ledger

Tiny transfers accounted for nearly all payments carrying the Ripple USD (RLUSD) currency code on the XRP Ledger over a 30-day period, while larger transfers moved $7.33 billion in gross value. The split shows why a high payment count does not necessarily represent a large number of distinct users or payment purposes.

From Sept. 19 through Oct. 18, 2026, about 7.8 million payments carried the RLUSD currency code, and nearly all delivered less than one unit. The tally uses the currency code recorded in transactions; other issuers can use the same code, so it does not confirm that every transfer was genuine RLUSD. The data snapshot is dated Oct. 19, 2026, at 9 a.m. ET (13:00 UTC).

The activity centered on 110 sending wallets repeatedly routing tiny amounts to three receiving addresses. That wallet grouping was inferred from shared funding and destinations, and the records do not identify who controlled the wallets. Transfers attributed to the cluster averaged about one-tenth of a cent. From Oct. 8 to 14, the three receiving addresses took 45.6% of all account-to-account payments on the ledger across all assets.

Payments of at least one RLUSD, with look-alike tokens excluded, totaled $7.33 billion in gross transfer value. The 10 largest sending wallets accounted for $6.05 billion, or about 82% of that amount. Issuer minting and redemption flows contributed about $1.47 billion. Another $848 million came from two wallets sending $424 million in each direction.

Gross value counts every movement, including repeated transfers of the same funds. The $848 million between the two wallets therefore records transfers in both directions, not that amount in distinct funds reaching separate users. The payment count covers successful transfers between different accounts and excludes trades, self-payments and failed transactions.

Inflow to the largest receiving address began falling at 1 p.m. ET (17:00 UTC) on Oct. 14. Cross River Bank announced its RLUSD banking integration the next day, making stablecoin payments available to fintech customers through one API in limited states. The timing does not establish a connection between the integration announcement and the earlier decline.