The XRP community is buzzing again as the seemingly endless SEC lawsuit inches closer to a final resolution. Amid this renewed optimism, an old clip of Yoshitaka Kitao, Chairman and CEO of the Japanese financial powerhouse SBI Holdings, is making the rounds once again. In it, Kitao boldly claims that XRP’s price could skyrocket once Ripple’s legal battle with the U.S. Securities and Exchange Commission officially ends.
Ripple’s Legal Saga Nears the Finish Line
For nearly five years, the Ripple vs. SEC case has loomed large over XRP’s price action and reputation. Now, signs indicate that a resolution is just around the corner. In the resurfaced video, Kitao says the drawn-out fight is almost done, echoing statements from Ripple’s leadership that a final ruling could arrive within weeks.
Kitao stresses that if XRP emerges from this case classified as a digital currency rather than a security, investors should brace for a major market reaction. His simple message: once the regulatory cloud lifts, XRP could reach a “very high price.”
SBI Holds Its XRP Strong
As one of Ripple’s biggest global partners and its largest external shareholder, SBI Holdings has skin in the game. Kitao underlines that SBI will not be offloading its XRP bags anytime soon. Instead, the company views its XRP position as a strategic asset that could unlock significant value post-lawsuit.
Back in June 2023, Kitao made these statements just before Judge Torres ruled that XRP did not meet the criteria to be labelled a security. That decision triggered a sharp price rally, but the excitement didn’t last long. XRP soon slipped back into a tight range, mainly hovering between $0.50 and $0.60.
Related article: XRP Slips Below $2.90: Is a Breakout or Breakdown Next?
November Breakout Rekindled the Fire
Momentum for XRP reignited in November 2024 when then-SEC Chairman Gary Gensler unexpectedly stepped down. That shift fueled fresh optimism that the case could soon close for good. XRP used the moment to smash through long-standing resistance, surging from under $0.50 to over $3 in a matter of weeks.
Following this breakout, the token entered a consolidation phase that lasted for six months. Now, with Ripple signalling plans to withdraw its appeal and close the case, the community believes XRP is on the cusp of its next big move. Traders are waiting for an official joint statement from the SEC and Ripple confirming the final settlement of the lawsuit.
Ripple’s IPO and Expansion Plans Remain a Wild Card
Kitao’s old video also hinted that Ripple might move forward with an IPO after the legal clouds clear. However, more recent comments from Ripple’s leadership show they’re leaning toward expanding through mergers and acquisitions for now, rather than rushing into a public listing.
SBI’s commitment to XRP stretches far beyond the courtroom drama. Through its joint venture SBI Ripple Asia, the company has actively promoted XRP-powered payment solutions across Asia for years. Kitao remains one of the most outspoken corporate champions of XRP’s real-world utility for cross-border settlements.
Interestingly, SBI recently received a proposal from its own shareholders suggesting the company should adopt an “XRP treasury” strategy, similar to how MicroStrategy aggressively holds Bitcoin on its balance sheet.
The Big Question: Will Kitao’s Prediction Come True?
With the lawsuit’s final chapter likely around the corner, XRP holders are watching closely to see if Kitao’s bold prediction will finally come true. A favourable ruling, fresh regulatory clarity, and Ripple’s continued expansion could all set the stage for XRP to reach that “very high price” the SBI chairman expects.
