Discussions around XRP supply have resurfaced after a detailed post on X by an XRP investor known as Lord Belgrave, who offered a perspective that goes beyond the usual conversations about the XRP tokens locked in escrow. According to the XRP investor, Ripple’s escrow mechanism is a deliberately structured system designed years in advance with institutional deployment in mind, and we might see more details in the near future as NDAs start to expire. Related Reading: Bitcoin Feels The Weight Of Quantum Risk Concerns, Industry Leaders Warn Why Ripple Created The XRP Escrow In The First Place Lord Belgrave’s remarks on the Ripple escrow system address questions about how XRP supply is managed, why the escrow exists in its current form, and what its role could be as Ripple’s infrastructure matures. The argument is that Ripple’s escrow was never designed internally as a pool of tokens just waiting for the best market distribution. In the discussions he describes, escrowed XRP was presented as locked supply governed by deterministic release schedules and multi-year planning phases. The emphasis was on predictability and control, with supply aligned not to short-term trading dynamics but to institutional readiness. Although not publicly assigned or disclosed, portions of the supply were viewed as conceptually reserved for future system deployments. Lord Belgrave claims these conversations occurred under strict non-disclosure agreements (NDAs) and involved institutions across Europe, the Middle East, and Asia. These institutions included central banks, systemically important financial institutions, multilateral bodies, the International Monetary Fund and the Bank for International Settlements. Ripple introduced its escrow system in 2017 to bring transparency and discipline to XRP supply. XRP was created with a total supply of 100 billion tokens. However, not all of these tokens were in circulation during launch. About 55 million XRP was locked into on-ledger escrow contracts during launch, with 1 billion XRP scheduled for release each month. However, Ripple also re-locks around 700-800 million XRP, and only 200-300 million XRP is effectively released into circulation each month. This rules-based approach has become a cornerstone of XRP’s tokenomics for the past few years. NDAs, Disclosure Timing, And What Could Come Next Lord Belgrave also pointed to a perceived change in institutional language following Ripple’s regulatory progress, interpreting it as a sign that long-standing NDAs may be nearing a disclosure phase. Systems are now moving from preparation into active deployment, and as such, previously reserved liquidity will become operational. That interpretation was met with a response from Vincent Van Code, another popular XRP enthusiast on X. In his view, many NDAs exist but disclosure does not occur automatically. He explained that information is typically revealed only when both parties formally agree to share specific confidential details. Related Reading: XRP ETFs Grow Past $60M As Price Struggles To Respond From this point of view, the NDAs are so that Ripple does not disclose its counterparties and keeps them clear of regulatory scrutiny until compliance checks, audits, and approvals are complete. Any future transparency from Ripple and its partners would likely follow coordinated decisions instead of just NDA expiration. Featured image from Unsplash, chart from TradingView
