XRP leverages its native payment channels to facilitate AI agent transactions and institutional collateral, even as Ripple's RLUSD stablecoin gains traction with $2.4 billion in circulation.
XRP has live use cases in cross-currency payments and prime-broker collateral, while agent payments via Stripe's Machine Payments Protocol remain in beta with no commercial volume.
RLUSD has grown to $2.4 billion circulation and about $750 million daily volume, but it lacks XRP's native payment-channel streaming capability and is more active on Ethereum than on the XRP Ledger.
XRP maintains three distinct utility pillars: cross-currency settlement, institutional collateral via Ripple Prime, and emerging machine-to-machine payments. While Ripple's RLUSD stablecoin has reached $2.4 billion in circulation, XRP remains the primary asset for streaming micropayments through the Machine Payments Protocol, a feature not yet available for the stablecoin.
XRP supports native payment channels for streaming micropayments and institutional collateral, whereas RLUSD is a dollar-backed stablecoin primarily used for one-off transactions.
The vote on XLS-65 and XLS-66 lending standards will determine if institutions can borrow RLUSD while using XRP as collateral, expanding the token's utility beyond current prime broker limits.