SBI Holdings CEO Yoshitaka Kitao has reiterated his trust in XRP, responding directly to concerns from the asset’s community during a volatile period for the token. Asked whether he still believed in XRP, Kitao answered simply and unequivocally: “YES.”
XRP faces steep decline
XRP, the digital asset associated with the payment company Ripple Labs, has experienced a sharp downturn this year. Over the month of October, XRP lost 18% of its value, while overall, the token has fallen more than 70% since reaching its all-time high of $3.65. Market data indicate that sentiment among traders remains subdued, with fear and frustration persisting among long-term holders as the price continues to retreat.
The recent losses have provoked criticism from parts of the XRP community. A user known as CryptoKen directly addressed Kitao, expressing disappointment and describing recent weeks for XRP holders as “truly exhausting.” Ripple executives have faced scrutiny from investors amid the ongoing decline, though the SBI chief’s public vote of confidence has offered some reassurance for supporters.
Asked about his confidence in XRP amid the ongoing sell-off, SBI Holdings CEO Yoshitaka Kitao responded with a direct affirmation, providing a boost in morale to the asset’s embattled community.
SBI’s ongoing XRP commitment
SBI Holdings, a major Japanese financial conglomerate, has actively supported Ripple Labs and the XRP token through multiple business divisions. The company holds an estimated 9% equity stake in Ripple Labs, reflecting its strategic commitment to the blockchain firm. Additionally, SBI has incorporated XRP into a variety of financial products across its subsidiaries.
SBI VC Trade recorded a milestone in March by becoming the first regulated distributor of Ripple’s RLUSD stablecoin in Asia. This effort was followed in May when several SBI subsidiaries, including SBI Shinsei Bank and SBI Insurance Group, initiated programs granting shareholders direct rewards in XRP. The scope of these initiatives later expanded to the group’s mortgage arm, SBI ARUHI, which introduced an XRP rewards program for mortgage customers.
During SBI’s May 2026 shareholder meeting, Kitao emphasized that Ripple should not be seen as merely a company holding XRP in escrow. He noted that Ripple possesses valuable business infrastructure that extends beyond its cryptocurrency holdings.
Mini dictionary: SBI Holdings is a leading Japanese financial institution with operations spanning banking, securities, insurance, and asset management. The group is recognized for its early investments in blockchain technology, particularly its long-standing partnership with Ripple Labs.
Kitao stands firm amid volatility
As of the latest trading session, XRP is priced at $1.02, down 13% over the previous week. Throughout the asset’s downturn, Kitao has maintained a steadfast public position and continued to champion blockchain as a transformative technological advance in modern finance.
At SBI’s November quarterly briefing, Kitao stressed that the value of XRP remains closely linked to its practical applications in payments and the broader network ecosystem, contrasting this with the store-of-value focus often associated with Bitcoin.
In meetings with investors this year, Kitao has highlighted SBI’s consistent support for XRP through new products, rewards programs, and capital commitments, emphasizing that his outlook on the asset remains unchanged despite market headwinds.
SBI Holdings’ commitment to Ripple and XRP continues to shape the company’s digital asset strategy, signaling ongoing institutional support during challenging market conditions.
| Metric | XRP (Current) | XRP (All-Time High) |
|---|---|---|
| Price | $1.02 | $3.65 |
| % Decline from ATH | 70% | – |
| October 2026 Change | -18% | – |
