SBI Holdings Stands Firm on Ripple Despite XRP Price Weakness

Japanese financial giant SBI Holdings has reaffirmed its confidence in Ripple and XRP despite the recent slowdown in price. During the company's first-quarter earnings presentation, Director Yasuo Nishikawa stated that the value of SBI's holdings in Ripple remains at 6.6 trillion yen (approximately $45 billion).

This figure is significant, as it underscores SBI's continued commitment to Ripple and XRP despite market volatility. Nishikawa attributed XRP's recent weakness to uncertainty surrounding the U.S. CLARITY Act, which has yet to pass.

SBI reported record first-quarter earnings across every level of profitability, with quarterly profit attributable to shareholders reaching 148.1 billion yen. The company's private equity business, which includes its investment in Ripple, was a strong performer during the quarter, with profit surging 328% year-over-year to 119.9 billion yen.