An XRP community figure has claimed that Ripple pre-allocated its XRP escrow for global institutional liquidity, not market sales.
Recently, discussions around Ripple’s XRP escrow have gained momentum, as market watchers persistently question whether Ripple fully controls the escrowed tokens or if it already set aside part of the supply for institutions. For context, Ripple currently holds about 34.4 billion XRP, worth over $64 billion, in escrow.
Ripple Never Planned for Open Market Sales
Amid the discussions, Lord Belgrave, who claims to be a former banker, shared what he said was privileged information about Ripple’s purpose for the escrow.
Nobody is supposed to know this. But as promised, I am sharing this with you.
And I need to be precise in how I say it.From what I witnessed over the years, Ripple’s escrow was never intended to represent loose corporate ownership waiting to be sold into the market.
It was…
— Lord Belgrave (@LordBelgrave) December 19, 2025
Interestingly, the market pundit suggested that Ripple never planned to use the escrow as a pool of tokens to sell into the open market. According to him, the firm built the system to support long-term institutional use.
Belgrave said Ripple created the escrow with a purpose that involves locked supply, fixed release schedules, and long-term planning that focused on when institutions would be ready to use XRP, not on short-term price movements. To him, Ripple treated the escrow as part of its payment infrastructure.
XRP Escrow Regarded as Institutional Liquidity Set Aside
He also claimed that people in private meetings spoke about the escrow as liquidity already set aside. Although Ripple never publicly named who would use the tokens, those involved believed that a large share of the escrow already had a role in future systems.
Belgrave claimed that decision-makers do not see the escrow as extra inventory but as resources already planned for use.
He explained that these talks took place under strict non-disclosure agreements (NDAs). According to him, they involved institutions from Europe, the Middle East, and Asia, not just the United States. He mentioned central banks, major financial institutions, and international organizations as participants.
The market commentator added that discussions included groups like the International Monetary Fund and the Bank for International Settlements, which focused on global payment systems rather than marketing deals. It bears mentioning that documents from the Ripple vs. SEC case already confirmed the existence of 1,700 NDAs involving Ripple and financial institutions.
To avoid misunderstanding, Belgrave said he was describing how insiders saw the escrow. He stressed that Ripple treated the escrow as future liquidity already committed, not as tokens it could freely sell. From his experience, Ripple had accounted for much of the supply long before the public discussions began.
Change in Tone Post Bank Charter Approval
Belgrave also called attention to recent changes in how institutions speak about Ripple. He said the changes became more noticeable after Ripple received conditional approval for an OCC bank charter.
According to the pundit, the use of language tied closely to Ripple’s system may mean that long-standing non-disclosure agreements are nearing an end. He believes that once a system moves from planning to real-world use, secrecy begins to fade.
NDAs Do Not Simply Expire
Meanwhile, responding to Belgrave, Vincent Van Code, a software engineer and XRP community figure, agreed that multiple NDAs exist around Ripple and its partners, but he said they do not simply expire.
Look I agree and also know a large number of NDAs exist. But it's not going to "expire".
It will be that the two parties to the NDA will mutually agree in writing when they will disclose their respective CI (confidential information).
The NDA is mainly so Ripple doesn't…
— Vincent Van Code (@vincent_vancode) December 19, 2025
Van Code explained that both sides must agree in writing before sharing any confidential information. According to him, these agreements mainly protect partner institutions by keeping sensitive details private. He added that NDAs help companies avoid regulatory issues until they complete audits, compliance checks, and other required processes.
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