Stabilization of a switching voltage regulator employing V2 control against ripple oscillation instability when the equivalent series resistance (ESR) of an output capacitor is small is provided by providing both an external ramp and an internal ramp (only the latter of which requires an approximation of inductor current) in the control feedback path, preferably including both inner and outer feedback loops. Approximation of inductor current using such an arrangement is non-critical and may be estimated based on power input voltage. Drift of a circuit providing such an inductor current estimation is preferably avoided by adjusting control duty cycle or slew rate of the positive-going ramp portion of the estimated inductor current triangular waveform.