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XRP News: Ripple Ally SBI Holdings Moves $703M in XRP Ahead of Major Escrow Event
In a recent move, SBI Holdings has transferred an astonishing $703 million worth of XRP on June 30, sparking speculation about potential strategic custodial moves. The transaction took place just one day prior to Ripple’s scheduled 1 billion XRP escrow unlock.
Whale Alert identified three large transactions involving a total of 640 million XRP. Notably, the destination wallet for one major transfer was newly created on the same day. Analysts have begun to speculate about the possibility of custodial restructuring or institutional positioning driving this massive transaction.
SBI Holdings’ significant involvement in Ripple’s ecosystem has raised eyebrows among market observers. The Japanese financial giant’s digital asset strategy centers around XRP as a bridge currency for its payment systems in Asia. Given Japan’s regulatory clarity, SBI can now expand its crypto-asset offerings without constraints. This development may be closely tied to the ongoing institutional activity and growth of XRP in cross-border transactions.
The transaction’s timing has led to theories about potential future integrations or custodial framework expansion for XRP-based applications. Despite this massive transfer, the XRP price experienced a 2.5% increase over the past week, accompanied by an astonishing 37% surge in trading volume.
Source: coincentral.com
