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XRP Surpasses Ethereum on Leading Japanese Exchange: A Significant Milestone for Ripple

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Joe M
  • XRP has surpassed Ethereum in trading volume on Japan’s SBI VC Trade, securing the second spot behind Bitcoin.
  • This milestone highlights XRP’s growing popularity and strong presence in the Japanese market.

In a remarkable turn of events, XRP has surged ahead of Ethereum (ETH) on one of Japan’s top cryptocurrency exchanges, SBI VC Trade. According to a recent report, XRP’s trading volume now ranks second only to Bitcoin (BTC) on the exchange, surpassing Ethereum for the first time in spot trading volume.

SBI VC Trade, the cryptocurrency exchange arm of the influential Japanese financial conglomerate SBI Holdings, revealed that the XRP/JPY pair outpaced ETH/JPY in terms of trade volume last month. This new development underscores XRP’s growing influence, especially in Japan, where it has long maintained a strong presence. Following Bitcoin, which remains the most traded cryptocurrency, XRP has now cemented its position ahead of Ethereum, Solana (SOL), and Dogecoin (DOGE), which hold the fourth and fifth spots, respectively.

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This achievement is hardly surprising given XRP‘s widespread adoption across Japan. Recently, XRP also made its debut on Mercoin, a leading marketplace app in Japan. As highlighted by former Ripple executive Emi Yoshikawa, Mercoin’s user base primarily consists of crypto newcomers, further highlighting XRP’s reach into mainstream markets. With this expansion, the cryptocurrency is gaining momentum among first-time buyers, a demographic that could drive even greater market participation.

XRP’s success on SBI VC Trade signals its potential for future growth, especially considering the broader context of cryptocurrency markets in Japan. As the country continues to embrace digital currencies, XRP stands poised to benefit from its early establishment in the region, outpacing even major players like Ethereum.

As the crypto landscape continues to evolve, it will be interesting to see if XRP can maintain this newfound position and whether its momentum will push it to new heights in the global market.