Analyst argues XRP’s circulating supply is smaller than commonly assumed

Analyst Versan Aljarrah of Black Swan Capitalist contends that XRP’s true circulating supply is significantly lower than most market participants realize. According to the analysis, once escrow holdings and institutional reserves are accounted for, the effective circulating supply shrinks further. The analyst suggests that widespread global settlement adoption could reduce the active supply even more, potentially affecting long-term supply dynamics.