Pro-XRP Lawyer Bill Morgan Explains XRP’s Circulating Supply Debate

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The rising circulating supply of XRP has become a hot topic in the community, with nearly 60 billion tokens now in circulation out of the 100 billion total. Some worry this growth makes XRP inflationary and could hurt its price.

But pro-XRP lawyer Bill Morgan has stepped in to explain why this view misses the bigger picture.

Community Concern Over XRP Supply

It all began when one of the XRP supporters shared a five-year circulating supply forecast. The tweet argued that XRP’s increasing circulation is inflationary and warned that additional tokens entering the market would dilute the XRP 

price. This concern echoes a long-running fear within the community: that a growing supply automatically means weaker value for investors.

Bill Morgan’s Response to XRP’s Supply Debate

Bill Morgan jumped in to address the confusion. He acknowledged that, like Bitcoin, XRP’s circulating supply is not yet fully distributed. He explained that inflationary pressure exists only during the stage when new tokens are still being released into the market.

Unlike Bitcoin, which relies on mining to add new coins, XRP’s supply increase is fixed and scheduled, about 1 billion XRP per month on average, making the supply increases steady and predictable rather than sudden or inflationary spikes.

Of course circulating supply is inflationary as it is not yet 100% fully distributed. That issue applies to Bitcoin as well as mining adds to the circulating supply. One day when all XRP (which is a finite number) is fully distributed XRP circulating supply and total supply will… https://t.co/8dRWHAkYBK

— bill morgan (@Belisarius2020) September 19, 2025

Eventually, when all 100 billion tokens are fully distributed, XRP’s circulating and total supply will become permanently deflationary. This means no new tokens will be created, and ongoing token burns like those from transaction fees could actually reduce circulating XRP over time.

Growing XRP Price Impact 

Despite the supply concerns, XRP’s price has actually shown strength. Over the past month, the token has gained about 4.46%, continuing to trade above the $3 mark. 

On September 18, REX-Osprey introduced the first U.S. spot ETF for XRP (XRPR). The debut was impressive, with trading volumes reaching $37.7 million on day one. This shows that investor confidence in XRP remains strong, driven by regulatory progress and growing adoption in mainstream markets.