While XRP’s price struggles with key technical levels, significant progress is unfolding behind the scenes in terms of real-world adoption. A major Japanese financial partner is launching a novel digital bond, and a recent network upgrade is specifically designed to attract regulated banks. The growing disconnect between the asset’s current valuation and its expanding institutional utility is becoming increasingly apparent.
Technical Upgrade Paves Way for Regulated Finance
The XRP Ledger recently underwent a pivotal technical enhancement. The activation of the “XLS-81” upgrade on February 18 introduced a new “Permissioned DEX” feature. This innovation allows regulated entities, such as banks and brokerage firms, to conduct trading activities on the ledger while maintaining strict control over participant access and adhering to specific compliance requirements.
This development directly addresses the needs of traditional financial institutions that demand controlled environments. It aligns with Ripple’s broader strategy of building institutional-grade infrastructure, evidenced by its acquisitions of companies like Metaco and Standard Custody.
SBI Holdings Launches Digital Bond with XRP Incentives
In a significant move for cryptocurrency integration, Japanese financial conglomerate SBI Holdings is issuing a novel digital bond. The “SBI START Bonds” will have a total issuance volume of 10 billion yen, equivalent to approximately $64.5 million USD.
A key feature of this financial instrument is its direct incorporation of digital assets. Investors will receive not only a fixed annual interest rate but also additional rewards paid in XRP tokens. The structure guarantees a distribution of XRP valued at 200 yen for every 100,000 yen invested. Trading for these tokenized securities is scheduled to commence on the Osaka Digital Exchange on March 25, 2026.
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This initiative deepens the established partnership between SBI and Ripple Labs. SBI has a history of integrating digital assets, having distributed dividends in cryptocurrency to its shareholders since 2020.
Surging Network Activity Contrasts with Selling Pressure
Despite these foundational advancements, market sentiment remains tense. On-chain data reveals substantial selling pressure, with realized losses hitting $1.93 billion within a single week in late February. Analysts note that this level of realized loss was last observed in 2022 and is often interpreted as a potential sign of market capitulation or a seller washout.
This selling occurs alongside a notable surge in network usage. Daily transactions on the XRP Ledger recently increased by 40%, reaching 2.5 million operations.
Currently, XRP is trading at $1.34, having fallen below a key support level watched by market observers at $1.35. Should the price fail to stabilize at current levels, analysts suggest the next significant support zone to watch would be around $1.20.
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