A pro-XRP advocate is pressing Ripple to speed up its token releases, reigniting debate over the company’s monthly escrow mechanics and their impact on XRP’s market outlook.
Bill Morgan, an attorney and prominent XRP commentator, argued this week that Ripple should put more of the monthly 1 billion XRP unlock into circulation instead of locking large portions back up. “Ripple should release more of the 1 billion each month and not lock so much back in escrow,” Morgan wrote, adding that a faster release could let the market treat XRP as “hard money” sooner.
How Ripple’s escrow works
- Ripple’s escrow system automatically unlocks 1 billion XRP at the start of each month.
- Rather than releasing the full billion into circulation, Ripple typically uses some for operations, liquidity and institutional deals, then returns unused tokens to new escrow contracts.
- That practice makes it difficult to predict when all escrowed XRP will be fully circulated.
Current supply picture and timeline
- After the June 1 unlock, roughly 61.85 billion XRP were in circulation and about 38.15 billion remained locked.
- If Ripple continues returning large portions of monthly unlocks to escrow, the remaining supply could take close to another decade to run down.
Why Morgan wants faster releases
Morgan frames a full circulating supply as central to XRP’s narrative as a store of value. In his view, reducing the “overhang” of future unlocks would allow the market to evaluate XRP on a clearer supply basis, accelerating its case as “the best hard money.”
Counterarguments and market risks
Not everyone agrees. Critics warn that larger monthly releases could increase selling pressure if demand doesn’t keep pace. Others point out that headline unlock numbers matter less than the net amount Ripple actually leaves out of escrow and pours into the market.
Market context
XRP has been trading in a tight range — recently near $1.13, defending $1.10 support while struggling to clear $1.20 — with weak volume and whale selling tempering momentum. At the same time, Ripple’s broader business traction has continued, with adoption expanding through RLUSD, MXNB, Mastercard settlement links and new AI payment tools. Fund flows have aided a recovery narrative, but price action remains subdued.
Company vs. token
Ripple has repeatedly sought to separate company performance from its XRP holdings. CEO Brad Garlinghouse has said he expects Ripple to reach a $1 billion revenue run rate by the end of 2026, a figure that intentionally excludes the value of XRP on the company balance sheet. That distinction matters: changing the escrow release pace wouldn’t alter Ripple’s business model, but it would accelerate the timeline to a final circulating supply — a variable that could reshape investor sentiment.
Bottom line
Morgan’s call for quicker escrow releases has spotlighted a core tension in the XRP ecosystem: balancing predictable supply reduction with demand-side risks. Whether Ripple adjusts its return strategy will be watched closely by traders and long-term holders who are weighing the trade-offs between liquidity, selling pressure and the optics of a fully circulating supply.
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