SBI Holdings, a key partner of Ripple, moved 320 million XRP tokens, about $703 million, just days before Ripple’s planned release of 1 billion XRP from escrow. This action has fueled widespread speculation in the crypto market, particularly as Japan moves toward a more welcoming approach to cryptocurrencies.
SBI Holdings, through its subsidiary SBI VC Trade, transferred 320 million XRP tokens on June 30, 2025. Whale Alert first reported the transaction, which initially appeared to be between unknown wallets. However, further blockchain investigation revealed the sender was a wallet linked to SBI VC Trade. Notably, this wallet moved the XRP tokens to a newly created address, which immediately caught the community's attention.
The significance of this transfer grows as Ripple is set to release 1 billion XRP from escrow on July 1 as part of its ongoing monthly program. The new wallet receiving the XRP was created on the same day as the transfer, fueling theories of internal reallocation or custodial restructuring. Analysts are closely watching the movement, as the establishment of new custodial structures could signal preparations for broader institutional services or new bridge currency use cases.
In the hours after the transfer, XRP trading activity was up. The weekly price of the token increased by over 8%, whereas the token had decreased by 0.46% on average in the previous 24 hours. The trading volume increased dramatically by 37% to a total of 1.91 billion, indicating an increase in market participation and interest.
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On July 1, 1 billion XRP tokens will be released from Ripple's regular escrow. This has happened monthly since 2017, and the June release was valued at about $2.21 billion. Transfer through SBI becomes more significant as Japan fortifies its status as a center of cryptocurrency adoption.
Japan’s Financial Services Agency recently proposed reclassifying cryptocurrencies as legitimate financial products. This regulatory shift supports the launch of exchange-traded funds and proposes lowering the nation’s crypto tax rate from up to 55% to a flat 20%. These developments make it a more attractive operating environment for institutions such as SBI Holdings and Ripple, which are keen to increase the use of XRP as the intermediary currency in cross-border payments.
Significant transfers of XRP by SBI Holdings ahead of the escrow unlock are planned, indicating a positive regulatory trend in Japan and increasing institutional interest in crypto assets. The company also keeps exploiting XRP as a bridge currency, aided by a clear legal description of XRP as a crypto asset in Japan.
Following the transfer, XRP’s price remained volatile, briefly falling below $2.20 after earlier gains. Within the last 24 hours, the token has traded between $2.18 and $2.22. Although the Relative Strength Index slipped to 50.68, market traders continued to hold strong trading positions. Concurrently, the daily price of XRP remained under the 50, 100, and 200 simple moving averages, showing that further consolidation is taking place.
Market observers note that the timing of the transaction and the regulatory developments in Japan might be indicators of renewed confidence in the use of XRP to enable institutional and cross-border payments. The rising volume of trades and further interest of key investors such as SBI Holdings showcase a change in the token's market dynamics, particularly in the future, as Ripple plans to release another major escrow release.