SBI Holdings' 320M $XRP move has fueled speculation about its possible link to the company's use of the cryptocurrency as a token.
SBI Holdings and a longtime partner of Ripple have sparked speculation with a massive transfer of $703 million XRP.
The move has sparked interest about its purpose, especially in light of Ripple's upcoming 1 billion XRP escrow release. Speculated to be a new creation with an initial destination wallet, there are rumors that the platform’s move is tied to a custodial reorganization.
SBI Holdings Transfers 320M XRP
In a recent X post, Whale Alert revealed a massive transfer of 320 million XRP, worth $703 million. Initially, the transaction was reported between unknown wallets, but further investigation identified the source as SBI VC Trade, a subsidiary of SBI Holdings and partner of Ripple.
According to reports, wallet rNR…6jS sent this massive XRP token to wallet r9z…RCZ. Furthermore, two separate transactions of 160 million XRP were reported to different wallet addresses.
Following this move, the $XRP price has seen a remarkable rise with its price increasing by over 8% over the past week. Despite a 24-hour decline of 0.46%, the token is up 2.5% in a week. Trading volume has also increased by an astonishing 37%, currently at $1.91 billion.
Wave of unlocking 1 billion XRP on July 1
Importantly, the timing of SBI Holdings’ XRP transfer, coinciding with Ripple’s upcoming escrow release, is raising eyebrows and sparking speculation. Ripple is reportedly set to unlock 1 billion XRP tokens from its escrow on July 1, 2025, as part of its regular monthly schedule that began in 2017.
In June, the platform released 1 billion $XRP tokens from escrow, worth approximately $2.21 billion. In May, The firm opened 1 billion tokens in three transactions, amounting to 500 million, 300 million, and 200 million XRP.
As the next release is scheduled to take place on July 1, SBI Holdings' token transaction has raised concerns.
While many are uncertain about the purpose of the move, some see it as a bullish signal for XRP’s future price potential. The coincidence of these two events has led to intense speculation among investors and analysts about the possible market implications.
Why transfer XRP now?
According to reports, the wallet with the initial destination (r9zKp3…) was created on June 30. This suggests that the purse is a new internal account, possibly for strategic relocation or custodial structuring.
While this opens up a wide range of possibilities, the timing of the transfer, coinciding with Ripple's scheduled escrow release, suggests that SBI's move may be more than just a routine adjustment.
The transfer’s magnitude and the creation of a new wallet imply a significant strategic decision, potentially linked to SBI’s plans to utilize XRP as a bridge currency or its preparations for institutional services. As the cryptocurrency landscape continues to evolve, SBI’s actions could have implications for XRP’s adoption and market dynamics.
Interestingly, SBI is using XRP as default bridge currency for payments. Japan's clear regulatory framework for XRP classifies it as a crypto-asset rather than a security. This provides Ripple and SBI with a stable environment to develop XRP-based solutions, free from the regulatory uncertainty seen in the US.
Why this might actually be good news?
There is currently no cause for concern for investors in XRP in the SBI Holdings transfer. While the $703 million transaction raised eyebrows due to the size and proximity to Ripple's 1 billion XRP escrow release, the transaction appears to be an in-house move—perhaps for custodial restructuring or strategic allocation.
Furthermore, XRP’s trading volume and price have also increased, which would reflect the initial positive/neutral market reaction. Continued use of XRP by SBI and positive regulation from Japan also reflects long-term confidence in the asset.