The debate over Ripple’s influence on XRP’s price has been going on for years. Many critics argue that Ripple’s monthly XRP sales have kept the token from taking off, despite bullish trends in the broader crypto market. But now, pro-XRP lawyer Bill Morgan has stepped in with a detailed response that challenges this entire narrative.
In a response to a popular crypto thread, Morgan made it clear that some of the claims circulating online are misleading. One of the biggest claims is that Ripple owns over 43% of the XRP supply and is using it to dump on the market. Morgan was quick to point out that this is just not true.
He referenced CoinMarketCap’s own data, which shows that 58.5% of the total XRP supply is already circulating. Ripple doesn’t control all of the remaining supply, especially not the way people think. Much of it is locked up in escrow, and only a controlled portion is released each month.
So what about those monthly sales from escrow? Aren’t they hurting XRP’s price? According to Morgan, Ripple’s sales represent only a fraction of one percent of the total monthly trading volume. That’s far too little to cause any major price suppression. He adds that the market’s reaction to XRP is influenced by much bigger forces – like Bitcoin’s movement and general crypto sentiment – not by Ripple’s controlled selling.
This post in the thread is over generalised to begin with. Firstly, Ripple does not own 43% of supply. even @CoinMarketCap publishes that the circulating supply (excluding what ripple holes outside escrow) is 58.5%.
— bill morgan (@Belisarius2020) May 5, 2025
Secondly, what Ripple releases from escrow and sells each month… https://t.co/XnTBuHaZJ7
Bill Morgan also pointed to one major fact that gets overlooked. During the SEC’s intense 18-month investigation of Ripple, there was no evidence found that the company manipulated or suppressed XRP’s price. In fact, Morgan argues that Ripple has made efforts to support the XRP price, not suppress it. One of those efforts was the creation of the escrow system in the first place, which was designed to control the supply and bring transparency to how XRP is released over time.
The lawyer went on to say that if Ripple continues releasing the same amount from escrow every month, the impact on price will become even smaller as more XRP enters circulation. Basically, the market will just absorb those releases with less and less effect.
Morgan wrapped up his comments by saying he agrees with the thread’s overall conclusion – that there’s no real evidence of price suppression. He also noted that Ripple’s expert evidence during the lawsuit showed XRP’s price generally follows the same trends as Bitcoin and Ethereum. From what he’s seen in the last four years, that still holds true.
At the heart of the debate is this question: is Ripple helping or hurting XRP’s future? According to Bill Morgan, the data and legal records strongly suggest Ripple isn’t the villain some make it out to be. If anything, its efforts – like the escrow system and support for On-Demand Liquidity (ODL) – have brought structure to XRP’s supply in a market often ruled by hype and speculation.
So, is Ripple really holding XRP back? Based on everything Morgan shared, it doesn’t look like it.
Read also: XRP Wallets Hit All-Time High – But Is the Price About to Break Down?
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