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A circulating-supply figure tells you how many XRP a source classifies as circulating on a given date. It does not tell you how many tokens holders have offered for sale, at what prices, or on which venue. Sale availability depends on whether sell offers exist, whether they are funded, where they are listed, and when you look. No single, current, all-venue total of XRP offered for sale is established by the sources reviewed here, so any “available to buy” number needs a venue, a price range, and a timestamp attached.
What a 63 billion circulating figure actually classifies
The headline number is a classification, not an inventory of sell orders. Circulating-supply estimates are built from a methodology that decides which tokens count as circulating, and different sources apply different rules and publish on different dates. The headline’s 63 billion is one such figure. The most precisely dated official estimate reviewed here is from a February 20, 2025 Federal Register notice (Volume 90, Number 33), which cited approximately 62 billion XRP in circulation based on publicly available data. That is a 2025 estimate, not a live October 2026 reading, and it describes tokens in circulation rather than tokens currently offered.
Circulation and availability overlap but are not the same. A token can be circulating and still be held by a wallet that has no intention of selling, locked under escrow conditions, or simply not listed anywhere. Treating the circulating total as a sell-side supply is the core error this topic is about.
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Each measure below answers a different question. None of them can be substituted for another.
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| Measure | What it answers | What it does not answer |
|---|---|---|
| Circulating-supply estimate | How much XRP a given source classifies as circulating, under its own methodology and date | How much is offered for sale now, at any venue or price |
| Escrow balance or scheduled release | How much XRP is locked under escrow conditions, or when amounts become releasable | Whether released XRP is sold, transferred, or placed on any order book |
| Order book at one venue | Which offers are listed at that venue at the moment it was queried | Willingness of all holders to sell, other exchanges, or private transactions |
| Funded sell depth at price levels | How much of the displayed venue liquidity can actually be matched at those prices | A guaranteed execution price, or the total supply available across the market |
Escrow: locked is not the same as sold
Escrow is the most common reason people assume a large token count is about to hit the market, so it needs separate treatment.
The 2017 escrow arrangement
In a December 16, 2017 explanation titled “An Explanation of Ripple’s XRP Escrow,” David Schwartz of Ripple described the company’s on-ledger escrow. He wrote: “To provide additional predictability to the XRP supply, Ripple has locked 55 billion XRP (55% of the total possible supply) into a series of escrows.” According to that explanation, up to one billion XRP could be released per month, and any amount not used would be placed into a new escrow.
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Two qualifications apply. First, the 55 billion figure is the original placement described in 2017, not a current escrow balance; any balance has changed since then and no current escrow balance is established by the sources reviewed here. Second, the one billion monthly figure is a maximum release schedule. It is not evidence that one billion tokens were sold, or even offered on exchanges, in any given month.
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The XRP Ledger’s escrow feature locks XRP, or fungible tokens, until specified conditions are met. The protocol documentation describes time-based escrows, conditional escrows, and combined forms that require both. Escrow governs when an asset can be released. It does not identify a buyer, and it does not by itself establish that an exchange sale has happened.
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Ripple-held XRP versus escrowed XRP
Ripple’s Q4 2024 XRP Markets Report separates XRP the company held in its wallets from XRP subject to on-ledger escrow. The report states that Ripple-held XRP would not generally be expected to enter the broader market unless it was transferred to third parties. That distinction is useful, but it describes the report’s period. It is not a current holdings figure.
Offers on the XRP Ledger DEX
The XRP Ledger’s decentralized exchange is where a protocol-level sell order is visible, and its terminology is precise. The official protocol reference defines an Offer this way: “An Offer ledger entry describes an offer to exchange currencies in the XRP Ledger’s decentralized exchange.”
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Why a listed offer may not be fundable
An offer can become unfunded after it is placed. According to the XRP Ledger documentation, an unfunded offer can remain in the ledger until a transaction encounters it, which means a displayed offer is not automatically a sellable amount. This is why an order book listing alone overstates available supply.
Why one book is not the whole market
An XRPL DEX order book reflects offers on that decentralized exchange at the time of the query. It does not represent centralized exchange order books, over-the-counter trades, or private transactions. A book that looks thin on the DEX may sit alongside substantial liquidity elsewhere, and the reverse is also true.
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How to check a live figure yourself
If you need a current number for a specific venue, the steps below produce a figure that is honest about its limits. They are a method, not a market forecast.
- Name the venue and the trading pair you are examining, for example XRP against a specific quote asset on a named exchange or on the XRPL DEX.
- Record the UTC time you retrieve the data. Order books change continuously, so an undated figure cannot be compared with another.
- Pull the order book for that pair. On the XRP Ledger, query the book and check each offer’s
taker_gets_fundedvalue, which shows how much of the offer is funded, rather than counting the displayed amount alone. - Sum funded sell amounts only within the price band you care about, and keep the sum labelled as depth at those prices on that venue.
- State in the output what the figure excludes: other venues, private trades, and any XRP not listed for sale.
What the available sources do not establish
Three things cannot be read from the sources reviewed here, and any article or tool that presents them as settled is going beyond its evidence:
- A current, unified total of XRP offered for sale across all venues.
- A current escrow balance. The 55 billion figure is a 2017 placement, and the 2024 report is a period-specific account.
- Measured search-volume data for reader phrasing such as “how much XRP is actually for sale?” Those phrasings are reader-language formulations, not measured demand.
What the sources do support is narrower and more useful: circulating supply is a classification with a date and method, escrow is a locking and release mechanism rather than a sale, and sell availability is a property of funded offers at a specific venue at a specific moment.
Several of the protocol and publisher documents named above (Ripple’s 2017 escrow explanation, the Q4 2024 XRP Markets Report, the XRP Ledger documentation on escrow and offers, and the February 20, 2025 Federal Register notice) are the primary references for any further checking.
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