XRP (CRYPTO: XRP) bulls are eyeing an $8 target as SBI Ripple Asia secured regulatory approval to issue prepaid payment tokens on the XRP Ledger, targeting Japan’s $200 billion prepaid market.

SBI’s Tokyo Approval

SBI Ripple Asia, the Tokyo joint venture between Ripple and Japanese banking giant SBI Holdings, became a registered third-party prepaid payment instrument issuer under Japan’s Payment Services Act on March 26. The platform went live in early April.

The platform turns prepaid balances into blockchain tokens issued on the XRP Ledger and backed by Japanese yen. 

Meanwhile, Tobu Top Tours, a major travel arm of Tobu Railway, will issue tourism payment tokens that travelers can load and spend across hotels, transport, and attractions.

Japan’s prepaid payment instruments handle around 30 trillion yen, roughly $200 billion, in annual volume.

Goldman’s $154 Million Position

Goldman Sachs (NYSE:GS) disclosed a $153.8 million position in spot XRP ETFs through its Q4 2025 13F filing in March 2026. 

Of the top 30 institutional holders controlling just over $211 million in XRP ETF exposure, Goldman accounts for roughly 73%.

Goldman spread the allocation across Bitwise’s XRP ETF at $40 million, Franklin Templeton’s XRPZ (NYSE:XRPZ) at $38.5 million, Grayscale’s GXRP (NYSE:GXRP) at $38 million, and 21Shares’ TOXR (BATS:TOXR) at $36 million.

Standard Chartered’s $8 Target

Standard Chartered bank analyst Geoffrey Kendrick originally set his 2026 XRP price target at $8 before cutting it to $2.80 in February, citing slowing ETF inflows.

Even that lower number nearly doubles the current price. His 2028 forecast still sits at $12.60.

The ETF Numbers

U.S. spot XRP ETFs recorded no net outflow days in their first month. Cumulative inflows crossed $1 billion by December 16, 2025, making XRP the fastest digital asset to reach that milestone since Ethereum’s (CRYPTO: ETH) ETF launch.

“The XRP ETF launch has surprised a lot of people,” said Bitwise CIO Matt Hougan.

“Despite a challenging overall crypto market, we’ve seen consistent inflows into XRP ETFs, including hundreds of millions from institutional and professional investors,” he added.

Why Price Hasn’t Moved

An analysis on the Crypto Express channel said the price hasn’t exploded yet because the market is waiting for a macro liquidity spark, specifically the U.S. Senate’s CLARITY Act.

XRP investor Jake Claver, who posts as @beyond_broke, sees that bet failing. “Everyone waiting on clarity is going to be disappointed,” he wrote in a Saturday post that drew 88,000 views.

“XRP doesn’t need the clarity act to pass to see its day in the sun,” he added.

Other voices go harder. “There’s nothing that will pump it until 2030 now. Clarity act won’t save it. Banks definitely won’t use it,” wrote @hodlmonkey on Saturday.

Image: Shutterstock