The post XRP News Today: SBI’s Report Shows XRP’s 7X Surge & Growing Market Presence appeared first on Coinpedia Fintech News
SBI Holdings, a major Ripple partner, has just dropped a financial report that reveals eye-opening details about XRP. From its circulation supply to its soaring market value, the report highlights XRP’s impressive rise. Even more surprising, XRP’s value has multiplied over time, reflecting its strong position in the market.
XRP Supply Breakdown: Circulation, Escrow, and Burn Mechanism
According to SBI’s financial report for the fiscal year ending March 2025, as of February 2, 2025, about 57.76 billion XRP are circulating in the market. With a maximum supply of 100 billion XRP, this means a significant portion is still held in reserve.
The report also states that Ripple currently holds 4.79 billion XRP, while 37.43 billion XRP remains locked in escrow. This escrow system ensures that XRP is released gradually to prevent excessive market supply.
Another key aspect discussed in the report is the burning of XRP through transaction fees. So far, 0.01 billion XRP have been burned, reducing the total supply over time.
Meanwhile, this burning mechanism helps in maintaining the efficiency and security of the XRP Ledger by preventing spam transactions.
SBI’s XRP Rewards for Shareholders
The report also provides insights into SBI’s shareholder benefits distributed in XRP. Since March 2020, SBI has rewarded its shareholders with XRP on five occasions, amounting to a total of 796 XRP per shareholder.
Initially, the value of these distributions was around 8,000 Japanese Yen, calculated at an average of 50.2 Yen per XRP. However, as of February 6, 2025, the value surged to 354.6 Yen per XRP, nearly seven times the original value. This increase reflects XRP’s strong market performance and growing adoption.
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Growing Partnership with Ripple
Furthermore, the long-standing partnership between SBI and Ripple continues to expand. SBI, which owns a 9% stake in Ripple, has been instrumental in promoting XRP adoption. The two companies formed SBI Ripple Asia in 2016 to enhance cross-border payments in the Asia-Pacific region.
In 2021, SBI Remit introduced Japan’s first international remittance service using XRP. The collaboration is now set to extend into the NFT space, with plans to issue NFTs on the XRP Ledger at Expo 2025 in Osaka, Japan.
Additionally, SBI recently launched RLUSD, a stablecoin linked to the US dollar, further strengthening its presence in the digital asset space. The strong partnership between SBI and Ripple continues to push XRP forward, making it a key player in the evolving crypto landscape.
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