XRP Set for Nationwide Adoption in Japan by 2025

Japan has announced its plans to implement XRP for all payments nationwide by 2025, a move revealed by top financial leaders as a significant step in the country’s digital currency strategy. 

This decision aligns with earlier predictions by SBI CEO Yoshitaka Kitao, who anticipated XRP’s widespread adoption within Japan’s banking sector. With this development, Japan is positioning itself as a leader in the digital payment revolution, driving the anticipated changes on the XRP ledger (XRPL). 

In 2023, Yoshitaka Kitao forecasted XRP’s dominance in Japan’s banking industry by 2025, highlighting its increasing adoption by major corporations and money transfer firms. Kitao also emphasized the growing utilization of Ripple’s xRapid and RippleNet technologies, which have seen significant uptake in international remittance services. Japan’s recent decision further supports Kitao’s vision of XRP playing a crucial role in transforming the country’s payment infrastructure. 

Additionally, Ripple Labs Inc. has recently introduced Ripple USD (RLUSD), a new stablecoin pegged to the US dollar, expanding the utility of the XRP Ledger. 

RLUSD, which is issued on both the XRP ledger and Ethereum blockchains, aims to revolutionize cross-border payments with its stable value and full backing by case reserves. This development is expected to enhance liquidity and accessibility, strengthening the XRP Ledger’s position in global financial markets. 

Meanwhile, Ripple’s ongoing legal battle with the SEC ended with a court ruling that XRP is not a security. Judge Torres’ decision Ripple’s civil penalty to $125 million, significantly lower than the SEC’s initial demand of $2 billion.

This legal victory, combined with Japan’s announcement, further solidifies XRP’s position and paves the way for its nationwide adoption in Japan by next year.

Amid the recent surge of positive news surrounding XRP, analysts are forecasting a bright future for the cryptocurrency. Following a massive price increase of nearly 20%, XRP is predicted it could undergo parabolic growth, potentially reaching a value of $20 to $33 by 2025.