XRP (CRYPTO: XRP) bulls are optimistic about a target price of $8 following SBI Ripple Asia's regulatory approval to issue prepaid payment tokens on the XRP Ledger, aimed at Japan's $200 billion prepaid market. SBI Ripple Asia, a collaboration between Ripple and SBI Holdings, became a registered issuer under Japan's Payment Services Act on March 26 and launched its platform in early April, allowing users to convert prepaid balances into blockchain tokens backed by Japanese yen. Additionally, Tobu Top Tours will issue tourism payment tokens usable across various services.

In a notable development, Goldman Sachs (NYSE:GS) disclosed a $153.8 million position in XRP ETFs, representing about 73% of the top 30 institutional holders' total XRP ETF exposure. Despite this significant investment, Standard Chartered's analyst Geoffrey Kendrick reduced his XRP price target from $8 to $2.80 in February, citing slowing ETF inflows. However, Kendrick's 2028 forecast remains at $12.60.

XRP ETFs have shown strong performance, with cumulative inflows surpassing $1 billion by December 16, 2025, marking the fastest growth for a digital asset since Ethereum's ETF launch. Despite these positive indicators, some market analysts believe that XRP's price will remain stagnant until macroeconomic factors, particularly the U.S. Senate's CLARITY Act, provide clearer direction. Skeptics argue that XRP does not require the passage of this act to gain traction in the market.