All banks in Japan are set to integrate Ripple’s XRP Ledger next week, marking a significant development in financial technology. The announcement comes from SBI CEO Yoshitaka Kitao, highlighting the transformative potential of Ripple’s hybrid remittance system.
By combining the XRP Ledger with the Interledger Protocol (ILP), the solution aims to streamline international payments and reduce currency conversion complexities.
The efficiency and cost-effectiveness of the XRP Ledger position it as an ideal tool for facilitating international remittances. As financial institutions in Japan adopt Ripple’s technology, the move could set a precedent for global banking systems looking to modernize their international payment structures.
📢How High Will XRP Price Go If Japanese Banks Use XRP
Japan’s banking sector, valued at $6.372 trillion in market cap, could inject substantial investment into the price of XRP. Conservative estimates suggest that a 1% adoption could increase XRP’s market cap by $63.72 billion, pushing its price to $3.50.
More aggressive projections, based on 10% industry-wide adoption, estimate a rise in Ripple’s price to $13.48. These numbers underscore the potential ripple effect this adoption could have on the broader crypto ecosystem.
🎯 XRP Price Targets: What to Expect Next?
Technical indicators highlight $2.37 as immediate support, while $3 serves as a psychological level to watch. A breakout beyond $3 could propel the price towards $3.84.
If Japanese banks use XRP, there will be a 57.81% rally from current prices. However, failure to sustain momentum could see XRP revisit the $2 support zone.
🕛 Final considerations
If Japanese banks fully embrace XRP, its price could rise significantly, setting a new standard for cross-border payments. With strong fundamentals and growing adoption, the future of XRP looks increasingly optimistic.
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