{"id":569774,"date":"2026-10-08T20:40:44","date_gmt":"2026-10-08T19:40:44","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=569774"},"modified":"2026-10-08T14:35:22","modified_gmt":"2026-10-08T13:35:22","slug":"xrp-has-63-billion-circulating-tokens-but-how-many-are-actually-for-sale","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/xrp-has-63-billion-circulating-tokens-but-how-many-are-actually-for-sale\/","title":{"rendered":"Why XRP\u2019s 63 billion circulating tokens don\u2019t tell buyers what\u2019s for sale"},"content":{"rendered":"<p>For XRP buyers, available supply depends on the price they are willing to pay. The token's roughly 63.09 billion circulating supply gives the market's scale; sell orders show the quantities being offered at particular prices.<\/p>\n<p>XRP Insights, a ledger-data tracker, <a href=\"https:\/\/xrp-insights.com\/exchange-balances\">counted 21.97 billion XRP in exchange-attributed wallets<\/a> at 08:00 UTC on Oct. 8, across 699 wallets and 24 venues. Those balances include pooled customer assets and cold storage.<\/p>\n<p>The purchasing question is the size of sell orders at different prices. In an Oct. 8 <a href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\/\">CoinGecko snapshot<\/a>, the column labeled \u201c+2% Depth\u201d showed about $2.4 million for Binance XRP\/USDT and $4.0 million for Coinbase XRP\/USD. These provider-reported dollar figures cover two individual trading pairs and change as orders change. <a href=\"https:\/\/www.coinbase.com\/learn\/advanced-trading\/what-is-an-order-book\">Order-book depth<\/a> records orders across a price range, making price tolerance part of any estimate of buyable XRP.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/xrps-30-monthly-rebound-meets-a-4-6-million-liquidity-trial-inside-xrpls-1-1-billion-stablecoin-boom\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">XRP's 30% monthly rebound meets a $4.6 million liquidity trial inside XRPL's $1.1 billion stablecoin boom<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<h2>How the supply figures fit together<\/h2>\n<p>CryptoSlate's <a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">XRP market page<\/a> displayed approximately 63.09 billion circulating tokens on Oct. 8. XRP Insights' <a href=\"https:\/\/xrp-insights.com\/xrp-radar\/supply\">supply breakdown<\/a> used a broader figure: 68.59 billion XRP outside Ripple escrow after burns, with 31.40 billion still escrowed.<\/p>\n<p>The roughly 63 billion to 69 billion span therefore compares definitions. Calling it a range for buyable XRP would give it a meaning neither endpoint measures.<\/p>\n<p><a href=\"https:\/\/support.coingecko.com\/hc\/en-us\/articles\/32294647667865-CoinGecko-Supply-Methodology\">CoinGecko's circulation methodology<\/a> excludes escrow and can also exclude unlocked team or foundation holdings. Starting with a provider's circulating figure and subtracting those categories again risks counting the same exclusion twice.<\/p>\n<p>The following measurements include overlapping holdings and cover different parts of XRP's supply.<\/p>\n<table>\n<thead>\n<tr>\n<th>Measurement<\/th>\n<th>XRP<\/th>\n<th>Data date<\/th>\n<th>Scope<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Market-reported circulation<\/td>\n<td>63.09 billion<\/td>\n<td>Oct. 8<\/td>\n<td>Provider circulation estimate<\/td>\n<\/tr>\n<tr>\n<td>Outside Ripple escrow after burns, XRP Insights definition<\/td>\n<td>68.59 billion<\/td>\n<td>Oct. 8<\/td>\n<td>Broad non-escrow supply<\/td>\n<\/tr>\n<tr>\n<td>Ripple escrow, XRP Insights measurement<\/td>\n<td>31.40 billion<\/td>\n<td>Oct. 8<\/td>\n<td>Conditional protocol restriction<\/td>\n<\/tr>\n<tr>\n<td>Tracked exchange-attributed wallets<\/td>\n<td>21.97 billion<\/td>\n<td>Oct. 8<\/td>\n<td>Attributed custody, including reserves<\/td>\n<\/tr>\n<tr>\n<td>Bitwise and Franklin issuer snapshots, summed<\/td>\n<td>715.79 million<\/td>\n<td>Oct. 6 \/ Oct. 5<\/td>\n<td>Bitwise \/ Franklin; two redeemable funds only<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>These rows use different definitions and dates. They cannot be added together or subtracted in sequence to produce a clean float total.<\/p>\n<p>In its Oct. 8 snapshot, XRP Insights includes 477.4 million XRP of wrapped-token reserves and other funds in exchange balances. Within that, 140.4 million backing cbXRP, a token backed by XRP, also appears under decentralized finance, so subtracting both removes that backing twice.<\/p>\n<p>XRP Insights excludes identified US spot ETF custody wallets without public exchange labels from its exchange total.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/xrp-is-becoming-collateral-for-real-loans-and-the-first-market-is-already-dominated-by-whales\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">XRP is becoming collateral for real loans and the first market is already dominated by whales<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<p>Same-wallet balances fell by 44.0 million XRP over the seven days to Oct. 8.<\/p>\n<p>Issuer disclosures identify another pocket of custody. <a href=\"https:\/\/bitxrpetf.com\/\">Bitwise's XRP fund<\/a> held about 419.96 million XRP on Oct. 6, while <a href=\"https:\/\/www.franklintempleton.com\/investments\/options\/exchange-traded-funds\/products\/47318\/SINGLCLASS\/franklin-xrp-etf\/XRPZ\">Franklin XRPZ<\/a> held about 295.83 million on Oct. 5. These differently dated snapshots sum to 715.79 million XRP and cover two funds, rather than the whole ETF market.<\/p>\n<h2>Which holdings can move<\/h2>\n<p>Fund holdings restrict ordinary investors' direct access while preserving a redemption route. Bitwise's <a href=\"https:\/\/s3.us-east-1.amazonaws.com\/static.bitwiseinvestments.com\/xrp\/Bitwise-XRP-ETF-Prospectus.pdf\">Sept. 28 prospectus<\/a> permits authorized participants, the firms allowed to exchange baskets directly with the fund, to redeem through delivery of XRP or cash from XRP sales. Retail investors cannot redeem individual shares directly.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/xrp-etfs-hit-a-speed-bump-but-big-investors-arent-dumping-their-tokens-yet\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">XRP ETFs hit a speed bump, but big investors aren't dumping their tokens yet<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<p>Ripple's <a href=\"https:\/\/ripple.com\/xrp\/\">June 30, 2026, disclosure<\/a> reported 37.656 billion XRP held overall, including 32.6 billion in escrow. Subtracting those figures gives approximately 5.056 billion outside escrow at that date. Treating that historical balance as today's sale inventory would overstate what the disclosure tells buyers.<\/p>\n<p>Ownership and custody can intersect. Ripple's <a href=\"https:\/\/ripple.com\/insights\/q1-2025-xrp-markets-report\/\">Q1 2025 report<\/a> explained that certain XRP transferred to investment vehicles could remain classified as Ripple-held until the company expected it to enter the broader market. Separate labels do not guarantee separate coins.<\/p>\n<p>Dormancy is another uncertain subtraction. <a href=\"https:\/\/xrp-insights.com\/xrp-radar\">XRP Radar<\/a> lists founders' holdings at an estimated 4.60 billion XRP, dated Jan. 16, 2026, and an unverifiable 531 million lost or inaccessible estimate, dated Jan. 22, 2026, that includes long-dormant accounts. Neither figure demonstrates a current locked balance. <a href=\"https:\/\/xrpl.org\/docs\/concepts\/payment-types\/escrow\">Protocol escrow<\/a>, by comparison, prevents use until its release conditions are met.<\/p>\n<p><a href=\"https:\/\/www.coinbase.com\/learn\/advanced-trading\/what-is-an-order-book\">Sell orders specify quantities and prices<\/a>. A defensible buyable-supply range would require a price limit, a time window and coverage of executable exchange and over-the-counter offers. Holdings would also need to be reconciled so the same coins are counted once. Circulating supply provides scale and custody data shows where coins sit; buyers need the offers available for the trade they intend to make.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Oct. 7 snapshot counts 21.98 billion XRP in exchange custody, while executable supply depends on sell orders and price tolerance.<\/p>\n","protected":false},"author":1264,"featured_media":559314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,39,77968,6849],"tags":[77156,76714,76718,79101,74979,75695,76896,72399],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>XRP supply: why circulation does not mean sale offers<\/title>\n<meta name=\"description\" content=\"XRP supply and exchange custody measure different things. 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