SBI Holdings reaffirms $41.2B Ripple stake as XRP trades near $1.08

SBI Holdings confirmed a ¥6.6 trillion ($41.2 billion) Ripple stake on July 31 as XRP trades near $1.08, down 70% from its peak.

The Tokyo-based financial conglomerate confirmed it remains invested in Ripple despite recent XRP price declines, according to a company statement. The reaffirmation comes as XRP holders face a stalled CLARITY Act in the US Senate, with Polymarket odds of passage this year near 30%, down from 82% in February. The Senate set the bill aside on July 27 to clear a Russia sanctions package and a backlog of nominations.

SBI's position, valued at roughly 60% of XRP's entire market capitalization of about $67 billion, represents one of the largest single institutional holdings in any digital asset. The firm has partnered with Ripple since 2016, operating the SBI VC Trade exchange and integrating Ripple's payment infrastructure across its banking network in Japan.

The reaffirmation could help stabilize sentiment around XRP, which has held above $1 since its June 26 low of $1.009 despite the CLARITY Act delay and a Federal Reserve that held rates on July 29 with three officials voting to raise. A Senate floor vote on the CLARITY Act remains the key event, with September the next opportunity.

Institutional conviction during a 70% drawdown

SBI's commitment stands in contrast to broader market conditions. XRP has fallen for a full year, and its weekly RSI hit 29.6 on June 26, dropping below 30 for only the second time in the token's history. Santiment data puts the average XRP holder about 45% below their purchase price, the deepest loss on record.

Spot XRP ETFs have taken in $1.49 billion since launching in November 2025, though nearly 80% of that arrived in the first two months. The funds added just over $13 million in July, with inflows slowing to a trickle.

Ripple has spent the past three years expanding into institutional finance, paying $1.25 billion for prime broker Hidden Road (now Ripple Prime), launching the RLUSD stablecoin, and acquiring custody firms serving banks. Ripple Prime holds a BBB investment-grade rating from KBRA, allowing pension funds and insurers to do business with it.

CLARITY Act vote in September sets the next floor

SBI's reaffirmation carries weight beyond sentiment. As one of Japan's largest financial groups, its continued commitment to Ripple could encourage other institutional investors to maintain or increase crypto exposure. The firm's stake, if liquidated, would represent a significant supply overhang on XRP's market.

The CLARITY Act, which would codify XRP's digital commodity status into law, remains the primary event to watch. The bill cleared the Senate Banking Committee 15-9 on May 14, and every step it has taken this year has moved the XRP price within a day. Congress returns for a few weeks in September before the November midterms, with a lame-duck session after the elections as the last chance of the year.

If the bill passes, June's $1.009 could stand as the year's bottom. If it fails, XRP could close below $1 and print its 2026 low between $0.85 and $0.95, according to on-chain cost-basis data showing almost no buyers between $1.00 and $0.80.

This article is for informational purposes only and does not constitute investment advice.