This week in the cryptocurrency market, Ripple, Shiba Inu, MoneyGram, and Bitcoin stood out amid significant developments. SBI Holdings CEO Yoshitaka Kitao reaffirmed their long-term commitment to the Ripple ecosystem, stating the company is prepared to invest between $626 million and $1.25 billion in Ripple Labs shares when the company goes public. However, Kitao cautioned that the anticipated IPO timeline could stretch up to 12 years.
Long-term outlook dominates Ripple discussion
Kitao’s comments sparked varied reactions within the XRP community. Some investors voiced concern that this means the main growth trigger for Ripple could be delayed significantly, while others argued that Ripple is already establishing robust financial independence. SBI Holdings, a major financial group based in Japan, has maintained close ties with the Ripple ecosystem for years.
Yoshitaka Kitao emphasized that SBI Holdings has a long-term focus on the Ripple ecosystem and confirmed the company’s readiness to allocate up to $1.25 billion to Ripple Labs shares once it goes public.
Meanwhile, private secondary market pricing does not fully reflect this extended wait. Ripple Labs shares have soared 376 percent to $136.90, buoyed by IPO speculation. A $750 million buyback in spring pushed the company’s valuation to $50 billion—25 percent higher than the funding round involving Citadel and Pantera Capital in November.
Shiba Inu trapped in narrow range
Shiba Inu’s price settled into a tight corridor near $0.00000544 at the start of June 2026, declining 1.45 percent on the day. According to TradingView data, this movement unfolded just above the historical defense zone between $0.00000504 and $0.00000499. A notable narrowing in Bollinger Bands now suggests a strong directional breakout may be on the horizon.
Mini glossary: Bollinger Bands are a technical analysis tool used to measure price volatility. When the bands contract, it often signals an imminent sharp price move.
A key technical factor highlighted was the lack of strong sell orders above current prices in the order books. The Volume Profile indicator shows that large sell limits up to $0.00000973 are sparse. Analysis suggests any short-covering or sudden buying wave could push SHIB first to $0.00000680, then toward the primary resistance at $0.00000973.
The analysis notes the main factor for SHIB is the order book gap above current prices; limited sell orders could accelerate upside pressure.
The weekly RSI indicator falling to between 36.50 and 37.09 further supports this technical view. Additionally, SHIB reserves on exchanges have dropped to a multi-year low of 80.03 trillion tokens, interpreted as evidence of weakening sell-side pressure.
MoneyGram launches MGUSD stablecoin on Stellar
MoneyGram, the global payments company, has introduced its dollar-pegged stablecoin MGUSD on the Stellar blockchain. This move marks a shift away from Ripple to establish a proprietary payments infrastructure. MoneyGram is recognized as one of the major companies in global money transfers.
MGUSD is issued via Stripe’s Bridge platform, with smart contracts managed by M0 and wallet security handled by Fireblocks. The product is integrated into MoneyGram’s app as a non-custodial wallet. The pilot launch began in the US, with the next phase aiming for global rollout through MoneyGram’s 500,000-location network. The report also listed Ripple’s RLUSD stablecoin and PayPal’s products among the leading competitors in this space.
| Product | Network/Platform | Key Data |
|---|---|---|
| MGUSD | Stellar | US pilot launched, integrated into app with 60 million users |
| RLUSD | Network info not provided | Reached $1.7 billion market cap |
Bitcoin falls below $70,000
Bitcoin dipped below $70,000 after peace talks in the Middle East ended without resolution, raising geopolitical risks. Lack of conditions to support lower oil prices further accelerated the exit from risk assets. The Fear and Greed Index also plunged to 23, entering the “extreme fear” zone.
The report indicated Bitcoin has slipped 45 percent from its all-time high, falling into the $69,000-$70,000 liquidity zone. Selling pressure was attributed in part to MicroStrategy’s first sale in 3.5 years, unloading 32 BTC at $77,000, and a $731 million transfer from wallets linked to Mt. Gox. Moreover, Bitcoin ETFs have seen $3.45 billion in net outflows over the last 10 days, with $6.6 billion in total withdrawals in the past three quarters. Meanwhile, $60.5 million flowed into XRP on a weekly basis, and Solana recorded $4.13 million in net inflows on June 1.
Attention now turns to upcoming US macroeconomic data. The Federal Reserve’s Beige Book and ISM Services PMI will be key on June 3 and 5, while Friday’s May nonfarm payrolls and unemployment figures are expected to add volatility. With Brent crude trading above $94, strong jobs data may dampen hopes for Fed rate cuts and add further pressure on crypto assets.
