XRP is not created based on a closed system of mining-rewarding ecosystem...In the ripple website it's saying and I'm paraphrasing that it's beneficial for institutions to become a validator because they transact on the ripple network...we're dealing with 3 independent entities in ripple, i.e. ripple network, XRP token, and validators....XRP are under escrow of ripple company and regardless of what multi-sig wallet they put them in it can be created at will without any PoW, PoS, hybrid PoS/PoW or DPoS protocols.