Cryptocurrency analyst Mason Versluis has outlined two specific features of XRP that he claims could be central to its role in a future financial system built on tokenization: its “X” designa
Cryptocurrency analyst Mason Versluis has outlined two specific features of XRP that he claims could be central to its role in a future financial system built on tokenization: its “X” designation in the ISO 4217 currency code and its capped supply of 100 billion tokens.
In a video shared on the social platform X, Versluis explained that XRP’s “X” prefix connects the digital asset to the ISO 4217 standard, which is used by financial institutions worldwide to designate currency codes. According to Versluis, codes beginning with “X” within this standard signal assets that are not tied to any specific national currency, citing gold’s XAU code as an example.
He noted that this non-national character could prove significant if financial markets move further toward tokenized assets and cross-border settlements involving a variety of currencies. Versluis emphasized that XRP’s lack of affiliation with any one country may position it as a suitable bridge currency, facilitating transfers without national bias, particularly if global financial integration accelerates.
XRP’s code starting with “X” reflects an asset designed to operate above national boundaries. This characteristic could become increasingly important if tokenized assets and international payment platforms rely on neutral, country-independent digital assets.
However, the ISO 4217 convention does not assign future use cases or economic roles to XRP. The use of “X” simply confirms that the asset does not belong to a specific country or government.
Mini dictionary: ISO 4217, an international standard published by the International Organization for Standardization, establishes codes for currencies, metals, and other non-national financial assets, often used in global finance and banking operations.
Versluis also addressed XRP’s 100 billion maximum supply, stating that Ripple’s developers intentionally created a much larger supply than other cryptocurrencies in order to allow efficient processing of high-value transactions.
He compared XRP’s design to that of Bitcoin, which is limited to 21 million coins, and questioned why XRP’s team opted for such a large supply if scarcity was a key value proposition. Versluis suggested that having more tokens allows for greater flexibility, especially when dealing with global-scale value transfers.
He further commented on the actual supply available for trading, highlighting that large portions are held by Ripple and are locked in escrow, estimating the freely circulating supply to be around 60 billion XRP. Escrow mechanisms and Ripple-held reserves periodically influence the liquid supply and could affect trading dynamics over time.
Cryptocurrency Maximum Supply Primary Purpose XRP 100 billion Bridge currency for cross-border payments Bitcoin (BTC) 21 million Decentralized digital store of valueThe 100 billion token supply is a deliberate feature meant to support large-scale, high-value financial operations. Unlike models focused on scarcity, XRP’s design could enable significant volumes to move through the network efficiently.
The conversation expanded when another user on X questioned Versluis about XRP’s market capitalization, asking how the project could justify a near $96 billion valuation with a price below $2. The critic challenged Versluis to explain the relationship without mentioning price manipulation or hypothetical future adoption.
Versluis responded by walking through a basic market-cap calculation: multiplying the number of liquid tokens, about 63 billion, by the prevailing price of $1.50, which produced a market capitalization just under $95 billion. He emphasized that the market cap is purely a function of these two metrics and does not directly dictate the price of an individual token, which depends on market demand and trading activity.
He concluded by stating that $1.50 simply reflected what the market was willing to pay for each XRP at the time.
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