PayPal's PYUSD Keeps Climbing as Ripple's RLUSD Pulls Back

PayPal's PYUSD stablecoin is extending a steady run of growth, with a sharp acceleration that began in July 2025. Its market capitalization is now about $4.11 billion. Ripple's RLUSD also posted sustained gains, rising consistently from March 2025 and topping out early last month at nearly $1.6 billion in market value. Since then, RLUSD has reversed course, with its market cap sliding to roughly $1.25 billion. Even so, RLUSD has expanded strongly since March 31, putting it in position to challenge for fresh all-time highs in the near term.