Wednesday, June 19, 2024
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SBI CEO States what Impact Victory Against SEC Could Have On XRP Price and Ripple IPO

While a summary judgment by Judge Torres is anticipated in the legal battle between the United States Securities and Exchange Commission (SEC) and Ripple, Yoshitaka Kitao, Chairman and CEO at Strategic Business Innovator (SBI) Holdings Inc, made a disclosure that has spewed good news and excitement for XRP enthusiasts should the legal proceedings end in Ripple’s favor.

In a recent development, Yoshitaka gave an optimistic view of XRP’s future price in his native language, Japanese. Tehol Beddict, a strong advocate of XRP, took it upon himself to get the English and Japanese versions of Yoshitaka’s video, which was quickly spread across the crypto community, sparking excitement among XRP enthusiasts.

Read Also: Ripple Returns Whooping 900 Million XRP after Unlocking 1 Billion Tokens from Escrow: Details

Notably, the SBI CEO outlook for XRP has always been positive and tallies with that of numerous influential figures in the crypto ecosystem.

Yoshitaka’s View Of XRP’s Future Price

Yoshitaka’s futuristic price view for XRP grabbed the crypto community’s attention as his statements contained substantial claims. Notably, Eri, an XRP community influencer, quoted the update with additional context for further clarification.

One of Yoshitaka’s Japanese statements translated into English noted that should the ongoing legal tussle between the SEC and Ripple concludes in Ripple’s favor, the cross-border crypto asset price could spike.

Read Also: Forbes: Ripple CEO’s Confidence is Aiding XRP to Outperform Bitcoin (BTC)

In addition, an extract from Yoshitaka’s speech translation noted that the Initial Public Offering (IPO) under Ripple’s consideration could expose XRP shareholders to substantial capital profits, regardless of investors’ decision to either sell or hold their XRP coins.

Intriguingly, Eri commended the unique communication style of Yoshitaka, relating the SBI CEO’s talking style to that of a Daimyo, a feudal lord in historical Japan. Eri noted that Yoshitaka’s speech style depicts confidence in his assertion for XRP’s future price.


Relationship Between Ripple and SBI

For context, SBI Holdings is a finance provider service firm based in Tokyo, Japan. Since 2016, the finance platform has participated actively in various crypto projects ranging from Ripple, Coincheck, and VC Trade.

The relationship between Ripple and SBI has been a solid one thus far. SBI deems Ripple worthy to serve as a link between traditional financial establishments and the world of digital assets, prompting the Japanese-based financial firm’s constant adoption of Ripple’s ingenious solutions, particularly in cross-border payments.

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Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.

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