SBI Holdings CEO Yoshitaka Kitao has publicly reaffirmed his confidence in XRP. He did so in one of the most direct ways possible. A community member asked him whether he still trusts the ass
SBI Holdings CEO Yoshitaka Kitao has publicly reaffirmed his confidence in XRP. He did so in one of the most direct ways possible. A community member asked him whether he still trusts the asset. He replied with a single word: “YES.”
The exchange comes as XRP holders endure a rough stretch in the market. XRP shed 18% in October alone. It has declined more than 70% from its all-time high of $3.65, and the asset’s price is still falling quickly. Sentiment indicators show widespread fear among traders. The decline has tested the patience of long-term holders.
Community member CryptoKen addressed Kitao directly. He wrote that he and the XRP Army felt “deeply let down by Ripple” and described XRP as “truly exhausting these past few weeks.” Ripple and its executives have received significant criticism in recent weeks because of XRP’s poor performance, but Kitao’s response has encouraged many in the community.
YES.
— 北尾吉孝 (@yoshitaka_kitao) November 12, 2026
SBI’s support for XRP goes well beyond statements. The company owns approximately 9% of Ripple Labs and has integrated XRP across multiple financial products.
In March, SBI VC Trade became the first regulated distributor of Ripple’s RLUSD stablecoin in Asia. In May, six SBI subsidiaries including SBI Shinsei Bank and SBI Insurance Group began distributing XRP rewards directly to shareholders.
SBI also expanded its XRP rewards program to its mortgage subsidiary, SBI ARUHI. At the company’s May 2026 shareholder meeting, Kitao told investors that Ripple should not be viewed merely as a company holding XRP in escrow. He stated that Ripple owns “a whole valuable business ecosystem on top of that massive XRP position.”
XRP trades at $1.02, down over 13% in the past week. Kitao has maintained his position throughout XRP’s current decline. He has previously called blockchain technology the most revolutionary innovation of the century.
At SBI’s quarterly briefing in November, he stated that XRP’s value is tied to its utility in payment applications and ecosystem usage. He distinguished it from Bitcoin, which investors buy primarily to hold.
His response to the XRP community carries the same conviction his company has shown through its products, partnerships, and capital allocation across the year. SBI has consistently backed XRP, and its Chairman has confirmed that his stance has not changed.
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