- Ripple has surpassed Ethereum in trading volume on SBI VC Trade, reflecting its growing popularity among Japanese investors.
- The integration of XRP on Mercoin, Japan’s top resale platform, has significantly expanded its reach to new, first-time crypto buyers.
Ripple has made an exciting leap in the cryptocurrency market, with its digital asset, XRP, surpassing Ethereum in trading volume on SBI VC Trade, the crypto exchange of Japan’s SBI Holdings. This shift marks a significant milestone in XRP’s journey, as it continues to gain momentum among Japanese investors.
Ripple Overtakes Ethereum: Here’s Why.
According to CoinPost, XRP/JPY trading volume exceeded Ethereum’s (ETH/JPY) for the first time in the past 30 days, pushing Ethereum into third place on the platform. Bitcoin, as expected, maintained its dominance in trading volume, holding the top position. However, XRP’s rise to second place highlights a growing trend: the altcoin is gaining substantial traction in the Japanese market.
The increase in XRP trading activity is largely attributed to the platform Mercoin, which integrated XRP under Mercari, Japan’s top resale marketplace. This integration has enabled over 20 million active users to purchase XRP easily, using loyalty points, bank transfers, or as little as 1 Japanese Yen.
Ripple’s Reach Expands with New Investors.
Former Ripple executive Emi Yoshikawa pointed out that many of these new XRP buyers are likely first-time cryptocurrency investors, marking an important shift. Mercoin’s listing provides a user-friendly entry point into the world of crypto, helping to introduce a wider audience to XRP beyond the traditional crypto-savvy crowd.
Ripple Position in Japan’s Financial Ecosystem
Japan’s clear and favorable regulatory environment for cryptocurrencies has played a crucial role in XRP’s rising popularity. The country’s structured framework has made it an attractive market for digital assets, with XRP benefiting from its strong ties to SBI Holdings and Ripple. These relationships have instilled trust in the asset, further fueling its demand.
What’s Next for XRP?
XRP’s recent dominance on SBI VC Trade and increasing accessibility through platforms like Mercoin signal that the coin is making substantial inroads into the Japanese cryptocurrency space. As more mainstream users discover the benefits of XRP, its influence in the market is poised to grow, making it a coin to watch in the coming months.
