XRP Ledger (XRPL) surpassed Ethereum for the first time in monthly on-chain transfer volume for RLUSD in October.

On Nov. 9 (local time), blockchain media outlet The Crypto Basic reported that XRP Ledger posted $20.056 billion in RLUSD transfers in October, topping Ethereum’s $15.449 billion.

The two networks’ combined RLUSD transfer volume for October was $35.506 billion. XRP Ledger accounted for 56.4 percent and Ethereum 43.6 percent. The pattern in which Ethereum had previously maintained an edge in monthly transfer volume shifted in October.

A notable point is the gap between circulation and transaction volume. Of RLUSD’s total supply of $2.671 billion, Ethereum held $1.796 billion, accounting for 67.2 percent. By contrast, XRP Ledger held about $874 million, or 32.7 percent. Ethereum’s supply was more than twice as large, but XRP Ledger’s actual transfer volume in October was higher.

The change also contrasts with the previous two months. In September, the two networks’ RLUSD transfer volume totaled $20.253 billion, with Ethereum handling $11.084 billion and XRP Ledger $9.169 billion. In August, Ethereum recorded $11.57 billion, ahead of XRP Ledger’s $10.02 billion.

On a weekly basis, the gap is also narrowing quickly. In the week starting Oct. 26, weekly RLUSD transfer volume peaked at $11.716 billion, and XRP Ledger logged $6.699 billion, above Ethereum’s $5.017 billion. In the week starting Nov. 2, however, Ethereum recorded $3.962 billion and XRP Ledger $3.953 billion, narrowing the gap to about $9 million.

On a cumulative basis, Ethereum is still ahead. The two networks’ cumulative on-chain RLUSD transfer volume totals $227.2 billion. Ethereum accounted for 61.53 percent with $139.8 billion, while XRP Ledger recorded $87.4 billion, or 38.46 percent. XRP Ledger led in the monthly figure, but Ethereum’s share is larger in overall activity.

The number of holders showed the opposite pattern. Total RLUSD holders across the two networks was put at about 80,700. Of those, XRP Ledger holders accounted for 67,700, or 83.89 percent, while Ethereum holders were about 13,000, or 16.11 percent.

In the end, RLUSD is maintaining an Ethereum-centred structure in supply and cumulative transactions, but recent usage flows and its holder base are forming more strongly on XRP Ledger. Whether October’s monthly reversal was only temporary and whether XRP Ledger keeps its edge in November will be the next points to watch.