$XRP

In a recent report from SBI VC Trade, it was highlighted that XRP had surpassed Ethereum in trading volume during the past month. This trend places the altcoin just behind Bitcoin, which remains the leading cryptocurrency globally and in Japan.

The growth of XRP in Japan is not surprising, considering that this cryptocurrency has had significant backing from financial institutions in the country.

The Financial Services Agency of Japan (FSA) has been key in the acceptance of XRP, stating that it does not consider it a security, which has provided vital regulatory clarity for investors. In contrast, Ripple continues to face legal challenges in the United States, creating an uncertain environment for the cryptocurrency in other regions.

Additionally, the presence of XRP on exchanges like Mercoin, one of the most popular cryptocurrency applications in Japan, has been a determining factor. This move allows more investors, mostly first-timers, to access XRP, thereby amplifying its popularity.

Regulation is one of the main differentiators between Ripple's token and other cryptocurrencies like Ethereum. In Japan, the clear and favorable regulation of XRP has allowed more investors to feel comfortable choosing it as a viable option.