XRP has emerged as one of the strongest-performing cryptocurrencies among the top 10, consistently outperforming market leaders Bitcoin and Ethereum. Despite ongoing price volatility across the crypto market, institutional investors are increasingly shifting their focus toward XRP. According to CoinShares data, XRP investment products recorded $67.6 million in inflows, marking a sharp 70% increase compared to the previous week, while Bitcoin and Ethereum products collectively lost billions. A major portion of the inflows came from U.S. spot XRP ETFs, which accounted for nearly $60.5 million of the total investments. This rotation comes amid heightened geopolitical uncertainty, which has triggered billions in outflows from broader crypto investment products, but XRP continues attracting fresh capital, signaling growing institutional confidence.
SBI Holdings has filed for Japan's first spot Ripple XRP ETF, deliberately skipping Ethereum and targeting $32 billion in assets under management within three years of launch. According to reports, the filing reveals two distinct products: a Crypto-Assets ETF tracking Bitcoin and XRP together, and a Digital Gold Crypto ETF allocating more than 50% to gold with added crypto exposure for risk-sensitive investors. The plan was formally filed with Japan's Financial Services Agency in August 2025, with SBI laying out the proposal in its Q2 2025 financial results presentation. However, the ETF cannot list before fiscal 2028, as Japan's FSA is targeting that window for the first crypto ETF approvals.
On April 10, 2026, Japan's cabinet rewrote the framework through a cabinet-approved amendment to the Financial Instruments and Exchange Act, reclassifying 105 cryptoassets including Bitcoin, Ethereum, and XRP as financial instruments. This represents a fundamental shift from Japan's Payment Services Act that treated crypto as payment tools rather than investment products, preventing pension funds and insurance companies from holding crypto-backed ETFs through regulated channels. The bill still needs parliamentary approval in the current session for the framework to take effect in fiscal year 2027, with the FSA targeting fiscal 2028 for the first crypto ETF approvals.
SBI's competitive advantage stems from its decade-long Ripple partnership and established infrastructure. SBI holds roughly 9% of Ripple, making it the company's biggest external shareholder since 2016, and operates Japan's only live XRP-powered remittance corridor through SBI Remit since 2021. SBI VC Trade started distributing Ripple's RLUSD stablecoin in Japan on March 31, 2026, marking a first for any Asian market. In July 2024, SBI and Franklin Templeton formed a joint crypto ETF management company in Japan, bringing Franklin Templeton's roughly $1.7 trillion in assets under management and XRPZ, the lowest-fee spot XRP ETF in the U.S. at 0.19% fees. The XRP rails are already in place, with SBI processing most of Ripple's global On-Demand Liquidity volume.
XRP price continues to trade within a broader consolidation range despite facing repeated rejections near the crucial resistance zone around $1.50. The recent pullback has pushed the price below the 50-day SMA near $1.40, suggesting short-term weakness. However, XRP continues to hold above the ascending trendline support that has remained intact since April, indicating the broader bullish structure is still valid. The RSI has also cooled after multiple failed breakout attempts, dropping below the mid-range level, suggesting bullish momentum has weakened in the short term. If XRP manages to reclaim the 50-day SMA and break above the $1.44 to $1.50 resistance range, bullish momentum could accelerate toward higher targets. However, failure to hold the ascending support trendline may trigger a deeper correction before the next major move unfolds.
