In a surprising turn of events, Ripple CEO Brad Garlinghouse has confirmed that XRP will be delisted from all major cryptocurrency exchanges in Japan, citing newly issued guidelines from Japan’s Financial Services Agency (FSA). This development comes shortly after Ripple's partial legal win in its battle against the U.S. SEC.
The announcement sent shockwaves through the crypto market, causing XRP's price to fall by 16%. Prominent Japanese platforms like BitFlyer, Coincheck, and Liquid have already suspended XRP trading activities. This is particularly startling as Japan was once viewed as one of Ripple’s strongest markets in terms of XRP adoption.
Experts estimate that this move could lead to an 11% decline in global XRP liquidity, a significant setback for the token’s international footprint. Interestingly, Stellar (XLM)—considered a direct competitor to XRP—has surged by 6% in the wake of the news.
Ripple Labs has stated that they intend to challenge the FSA’s decision through legal channels, but the damage to investor sentiment may already be done. Many are now questioning whether this is just an isolated regulatory issue—or the start of a wider retreat from Asian markets $XRP
