TL;DR
- XRP has surpassed Ethereum in trading volume in Japan, becoming the second most-traded cryptocurrency on the SBI VC Trade platform.
- Nearly 80% of Japanese banks are expected to adopt XRP this year, highlighting its growing institutional presence.
- XRP’s inclusion in Mercoin, one of Japan’s top marketplace apps, increases its accessibility to new users.
The cryptocurrency XRP continues to solidify its position in the Japanese market, achieving a significant milestone by surpassing Ethereum in trading volume on the SBI VC Trade exchange. According to the latest report by SBI Group, XRP ranked as the second most-traded cryptocurrency, only behind Bitcoin. In fact, the XRP/JPY trading pair surpassed the ETH/JPY pair, putting Ethereum in third place. This shift highlights the loyalty of Japanese investors to XRP, which has maintained its strong market presence for years.
Impressive Growth in Japan
XRP’s success in Japan is not accidental. Ripple, the company behind XRP, has invested years in building solid relationships with Japanese banks and businesses, which has allowed the cryptocurrency to earn the trust of local users. Unlike other cryptocurrencies that are still struggling to establish themselves, XRP is already familiar to a large portion of Japanese traders. This institutional and business backing has been key to XRP’s steady rise, making it a preferred option for investors in the region.
In addition to institutional adoption, XRP continues to gain attention from individual users. Recently, it was added to Mercoin, one of Japan’s largest marketplace apps, making it more accessible to new users, including many first-time cryptocurrency buyers. This move opens the door to a new wave of adoption, particularly among younger consumers who may see XRP as an accessible and secure way to invest in cryptocurrencies.
Support from Industry Leaders
Yoshitaka Kitao, CEO of SBI Group, has been an outspoken advocate for XRP, emphasizing its use in international remittances via RippleNet. Kitao has also voiced skepticism about Bitcoin, arguing that it lacks intrinsic value, and compared it to XRP, which he believes has real-world demand. This stance highlights the importance of cryptocurrencies with practical applications in daily life, such as XRP, which remains a cornerstone in the Japanese market and is projected to play a significant role in the near future.
With support from both major corporations and individual users, XRP is not only positioned as one of the most traded cryptocurrencies in Japan but also seems set to continue leading the market in the coming years.
