XRP's price has barely budged in recent weeks. SBI Holdings director Yasuo Nishikawa, speaking during the company's Q1 FY2027 earnings call, pinned the blame squarely on one thing: investors holding their breath for the U.S. CLARITY Act.
Nishikawa, representing chairman and CEO Yoshitaka Kitao, was blunt about it. "XRP price is sluggish, remaining subdued, as if waiting to assess the status of the CLARITY Act," he said. The remark cuts to the heart of what's paralyzing the token right now. The market isn't selling off. It's not rallying. It's frozen, waiting to see what American regulators actually do with digital assets.
SBI's own crypto business felt the chill. The company's earnings took a hit as trading activity flatlined across the board. Yet there's a telling detail in Nishikawa's message: SBI still believes in Ripple. The firm's stake in the blockchain company is worth approximately 6.6 trillion yen right now, and management isn't backing away from that bet despite the market doldrums.
Betting on Recovery While Building Out Services
What SBI is actually doing is positioning itself for when the regulatory fog clears. The company launched new stablecoin services through SBI VC Trade and is acquiring Bitbank, a move that will vault its customer base to roughly 3 million accounts and push assets under custody to about 870 billion yen. Japan already has a solid regulatory framework in place, which gives SBI room to keep investing while waiting for trading to pick back up.
The global crypto market-making desk at SBI stayed profitable even as everything else slowed, suggesting there's still money flowing somewhere. But for XRP specifically, the token seems trapped until American legislators make their move. Whether the CLARITY Act passes, gets shelved, or transforms into something else entirely could be the spark that finally moves the needle.
This article is informational only and does not constitute financial advice. Crypto markets remain highly volatile and regulatory developments can significantly impact asset valuations.
