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Highlights
- SBI Holdings moves $703 million XRP, raising concerns.
- The move comes ahead of Ripple's scheduled release of 1 billion XRP from its escrow account.
- The new creation of the wallet sparks speculation of strategic reallocation or custodial structuring.
SBI Holdings and a long-standing partner of Ripple, has sparked speculation with a massive $703 million XRP transfer. The move has piqued interest about its motive, particularly in light of the upcoming 1 billion XRP escrow release by Ripple. With the initial destination wallet speculated to be a new creation, there are rumors that the platform’s move is linked to custodial restructuring.
SBI Holdings Transfers 320M XRP
In a recent X post, Whale Alert revealed the transfer of a massive 320 million XRP, valued at $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 Ripple’s partner.
Reportedly, the wallet rNR…6jS sent these massive XRP tokens to the wallet r9z…RCZ. Additionally, two separate transactions of 160 million XRP each were reported to different wallet addresses.
Following this move, the XRP price has seen a notable uptrend with its price surging by more than 8% over the past week. Despite a 24-hour dip of 0.46%, the token has increased by 2.5% in a week. The trading volume has also surged by a staggering 37%, currently at $1.91 billion.
Ripple To Unlock 1 Billion XRP on July 1
Significantly, the timing of SBI Holdings’ XRP transfer, coinciding with Ripple’s upcoming escrow release, raises eyebrows and sparks speculation. Reportedly, Ripple is 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, valued at approximately $2.21 billion. In May, as reported by CoinGape, the firm unlocked 1 billion tokens in three transactions, amounting to 500 million, 300 million, and 200 million XRP.
As the next release is scheduled for July 1, SBI Holdings’ token transaction raises concerns. While many remain uncertain about the move’s purpose, some deem it a bullish signal for XRP’s future price potential. The coincidence of these two events has sparked intense speculation among investors and analysts about potential market implications.
Why Transfer XRP Now?
As per reports, the initial destination wallet (r9zKp3…) was generated on June 30. This suggests that the wallet is a new internal account, possibly meant for strategic reallocation or custodial structuring.
While this opens a wide range of possibilities, the timing of the transfer, coinciding with Ripple’s scheduled escrow release, suggests that SBI’s move might 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 the default bridge currency for payments. Japan’s clear regulatory framework for XRP classifies it as a crypto asset rather than a security. This provides a stable environment for Ripple and SBI to develop XRP-based solutions, free from the legal uncertainty seen in the US.
Why it Might be a good news actually?
There is currently no reason for concern for investors in XRP in the SBI Holdings transfer. Even though the $703 million transaction generated eyebrows due to the size and the timing close to the 1 billion XRP escrow release of Ripple, the transaction does appear to be an in-house move—to perhaps finance custodial restructurings or strategic allocations.
Moreover, the trading volume and price of XRP have also increased, which would reflect an initial positive/neutral market reaction. Continued use of XRP by SBI and positive regulation of Japan also reflect long-term confidence in the asset.
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