SBI CEO: XRP Powers Global Wealth Transfer, Eyes $3 Break
SBI Global Asset Management CEO Tomoya Asakura hails XRP as a generational wealth transfer catalyst, noting its market cap has surged to around $180 billion amid rising institutional adoption in cross-border payments. He highlights Ripple’s partnership with BNY Mellon as custodian for the RLUSD stablecoin and Ripple’s bid for a U.S. banking license as key drivers for deeper financial integration. Supported by SBI Group’s 9% stake and services like SBI VC Trade, XRP has rallied from $2.00 to test the $2.90 resistance. A clean break above the 0.786 Fibonacci level near $3 could pave the way for retesting prior highs above $3.40, signaling a potential new bullish phase.
Bullish
This news underlines growing institutional backing and technical momentum for XRP. In the short term, the token’s rally from $2.00 to challenge the $2.90 and 0.786 Fibonacci resistance suggests a new bullish phase if it clears $3, potentially driving a retest of $3.40. Long term, integration with major banks via Ripple’s collaboration with BNY Mellon on RLUSD, SBI’s continued support, and Ripple’s pursuit of a US banking license strengthen XRP’s use case in cross-border payments, boosting demand and market stability.