The crypto market is bouncing a bit today. XRP price is up 1.5% in the past 24 hours and is now trading around $1.05. The token is still near its 19‑month lows, but any green candle feels like relief after the brutal June selloff.
But the real XRP news today has nothing to do with price action. It is about supply.
What you'll learn 👉
Bill Morgan: XRP Escrow Has Dropped Below 32.5%
Bill Morgan, a pro‑Ripple lawyer and well‑known voice in the XRP community, posted an update on XRP’s escrow supply.
When he posted almost one year ago, the amount of XRP in escrow was just under 36% . Almost one year later, it is now below 32.5% . That is not surprising, given that Ripple does not re‑lock about 300 million XRP per month.
Morgan’s frustration is with the lazy narratives that still circulate. He noted that many people continue to post that the amount of XRP locked in escrow is 35%, 40%, or even 50% of total supply. Some Bitcoin maxis still think it is over 50%.
He projected that if the trend continues, there will be less than 29% in escrow by next July.
The Real Numbers
According to the XRP Ledger distribution data, the current figures are:
- Max supply: 100,000,000,000 XRP
- XRP Escrowed: 32,444,982,729 XRP
- Circulating supply: 67,526,299,630 XRP
- XRP Burned: 14,358,820 XRP
- Activated accounts: 7,971,810
32.44% of the max supply is currently in escrow. That is the real number.
When I posted almost one year ago the amount of XRP in escrow was just under 36%. Almost one year later it is now below 32.5%, which is not surprising given that ripple does not re-lock about 300 XRP million per month. What is surprising is how many people lazily post that the… https://t.co/VrE8HZd6uO pic.twitter.com/YuFB9X5pHd
— bill morgan (@Belisarius2020) July 2, 2026
What This Means
The escrow drop from 36% to 32.5% in one year represents a meaningful shift in the supply structure. Each month, Ripple unlocks 1 billion XRP from escrow. A portion of that is sold to cover operational costs and support the ecosystem. The rest is re‑locked.
Morgan’s point is that Ripple has been re‑locking less than the full amount each month, leading to a net release of roughly 300 million XRP per month into the circulating supply.
This is not a bearish signal. It is a neutral structural change. The supply is becoming more liquid. The question is whether that supply finds buyers or sellers.
Morgan is right to correct the lazy narratives. The escrow percentage has been steadily declining. Anyone still quoting 35‑50% is using outdated or incorrect data.
That said, the supply unlock is not necessarily bullish or bearish on its own. The unlocked XRP can be sold, held, or used for ecosystem development. What matters is demand.
And right now, demand is weak. XRP at $1.05 reflects a bear market where ETF outflows and macro uncertainty dominate. The supply is increasing, but the price is falling because demand is even weaker.
Overall, the escrow trend is worth watching. If Ripple continues releasing XRP into the market at this pace, the circulating supply will keep growing. Whether that is good or bad depends entirely on whether adoption and utility keep pace.
Read also: XRP Price Prediction as Odds of a CLARITY Act Delay Jump to 61%
Ripple/XRP News
Technical observers have flagged structural similarities between the Open USD (OUSD) stablecoin consortium’s reserve-sharing architecture and the original design principles of the XRP Ledger, which dates back to 2012. The OUSD initiative, which counts Visa and Mastercard among its backers, has drawn comparisons to concepts embedded in the XRPL’s early framework.
This remains a historical design parallel rather than an indication of any direct integration with the XRP Ledger.
Independent research from Evernorth shows that Ripple USD has now settled more than $2.5 billion in total transaction value on the XRP Ledger. The RLUSD/XRP trading pair alone accounts for roughly $900 million of that volume. The figures highlight the ledger’s ability to handle significant settlement flow with fast finality and low costs, reinforcing its position as a functional payments infrastructure rather than just a speculative trading venue.
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