SBI Makes Strategic 320M XRP Transfer Ahead of Ripple’s 1 Billion Tokens Unlock

Key Points

1. SBI Holdings, a long-standing partner of Ripple, transferred 320 million XRP (valued at over $703 million) just days before Ripple's planned release of 1 billion tokens.

2. The timing and scale of the transfer have led to speculation that SBI may be attempting to mitigate potential downward price pressure from Ripple's token release.

3. XRP's price has remained range-bound between $2.10 and $2.20, with analysts suggesting a possible breakout to $2.45 if support levels hold.

4. Technical analysts, including Lingrid, remain optimistic about XRP's potential for a bullish surge, citing strong support levels and consolidation phases.

5. The market remains cautious ahead of Ripple's 1 billion XRP release, with SBI's large transfer highlighting the strategic and market dynamics influencing XRP's price.