- A past study valued XRP between $1.59–$8.23 but didn’t factor in escrow holdings, which reduce effective supply.
- Analysts argue yield products, staking, and institutional custody now lock up even more XRP, creating scarcity that could drive repricing.
- With banking use cases, CBDC pilots, and tokenization, XRP is evolving from speculation to settlement infrastructure.
Digital Asset Investor, a prominent voice in the XRP community, highlighted a little-known valuation study conducted in 2018 by Robbie Mitchnick, now Head of Digital Assets. The framework, built on XRP’s total supply, estimated a fair value range between $1.59 and $8.23 at the time.
According to the investor, the original analysis failed to account for the large portions of XRP locked in escrow, a dynamic that significantly reduces effective circulating supply.
“Here comes yield and all sorts of financial products to lock up even more of the XRP supply,” he wrote, adding that the new wave of financial instruments could set the stage for a structural revaluation.
Robbie Mitchnick, Head of Digital Assets did a XRP valuation framework in 2018 and arrived at $1.59-$8.23 at that time as the value. However, the valuation was based on the total supply. It did not factor in locked up supply. Here comes Yield and all sorts of financial… pic.twitter.com/KV5ovgWb4V
— Digital Asset Investor (@digitalassetbuy) September 24, 2025
Locking Supply, Driving Scarcity
Contrarian DNA, another analyst weighing in on the conversation, argued that the framework wasn’t wrong, but rather incomplete. He pointed out that yield products, staking mechanisms, and institutional custody solutions are now removing XRP from circulation, tightening supply far beyond what was modeled seven years ago.
Also Read: BlackRock and Ripple (XRP) to Solve Debt Crisis ‘Time Bomb’? Here’s What Pundits Are Saying
“Locking in isn’t hype. It’s math,” Contrarian DNA stated, emphasizing that the combination of constrained supply and rising demand has historically created explosive repricing events in other asset classes.
🏛️ The 2018 XRP valuation framework wasn’t wrong, it just missed the hidden levers that are locking supply today.
Why this matters now:
· Locked Supply Rising → Yield, staking, and financial products are removing XRP from circulation, tightening effective supply.
· Real…
— Contrarian DNA (@ContrarianDNA) September 24, 2025
Both investors stressed that XRP’s current trajectory differs from earlier cycles because of its growing role in banking, central bank digital currency pilots, and real-world asset tokenization.
This utility, they argue, means XRP is no longer simply a speculative asset but a working settlement instrument for institutions. When paired with financial products that lock supply, the effect could be a structural re-rating of XRP’s value, turning past estimates from potential ceilings into a conservative floor.
The Bigger Picture
As the digital asset market prepares for the possible approval of more spot XRP ETFs and deeper institutional integration, the conversation around supply mechanics is becoming central to valuation debates.
While XRP trades at levels far below Mitchnick’s 2018 estimates, investors like Digital Asset Investor and Contrarian DNA suggest that locked supply and real-world usage could push the asset into a new phase of price discovery.
The conclusion from both voices is clear: scarcity, when combined with rising demand, has the potential to transform XRP’s valuation framework for years to come.
Also Read: Top Trader Says ‘Hide Your Crypto, XRP Super-Cycle Will See Crazy Number’
