SBI Holdings Releases Infographic about Total XRP Circulation

XRP community figure WrathofKahneman recently shared an updated infographic from SBI Holdings’ fiscal year-end report that details the current distribution of XRP as of July 20, 2025.

The image, described as one of the most comprehensive and clear visualizations of XRP’s total supply, reiterates the essential breakdown of XRP holdings, including those in escrow, in active circulation, and under Ripple’s control.

The data visualization provides insight into how XRP is distributed across different categories, emphasizing the constraints on Ripple’s ability to liquidate large portions of the asset.

XRP Market Circulation and Total Supply

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The maximum supply of XRP remains capped at 100 billion tokens. According to the infographic, approximately 59.24 billion XRP are in active circulation within the market.

At the time of reporting, this portion of XRP carries a market capitalization of approximately 28.6 trillion Japanese yen, based on pricing data from July 28. This figure reflects a substantial segment of the total supply and constitutes the portion that is freely tradable across exchanges and platforms.

Ripple’s Non-Circulating Holdings

As of the end of March 2025, Ripple held a significant volume of XRP that had not entered the market. These holdings are categorized as being outside of current market circulation and are valued at approximately 13.4 trillion yen.

By July 20, 2025, the infographic reports that Ripple’s non-circulating holdings are equivalent to 19.7 trillion yen, which suggests that the valuation is based on a revised XRP price as of July 28. These tokens represent a portion of the supply Ripple retains direct control over, yet has not introduced into active trading markets.

XRP Under Escrow and Burned Supply

A prominent feature of the report is the quantification of XRP held under escrow. Roughly 35.9 billion XRP remain locked under the escrow mechanism. The infographic explains that XRP placed in escrow on the XRP Ledger is restricted from use or destruction until specific conditions are met.

The escrow system was established to promote predictability and ensure responsible token release over time. Based on ledger data available as of July 20, 2025, the report confirms that nearly 40% of the total XRP supply is still under escrow, and thus, Ripple is not at liberty to sell or distribute these tokens at will.

In addition to circulating and escrowed tokens, the infographic indicates that approximately 10 million XRP have been permanently removed from the total supply through transaction fees. These burned tokens represent a fraction of the total but reflect the deflationary nature of the transaction cost model built into the XRP Ledger.

Summary of Data Presentation and Source

The quantities shown in the infographic are derived from XRP Ledger data as of July 20, 2025, and the monetary valuations are calculated using XRP’s market price as of July 28.

WrathofKahneman referred to the updated image as “still the best infographic about total XRP circulation,” highlighting its clarity and the credibility of its source, which is SBI Holdings. The visual report illustrates the current landscape of XRP distribution in quantifiable detail and offers transparency on Ripple’s available and restricted holdings.

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