Next week, every bank in Japan is set to integrate Ripple’s $XRP ledger, marking a major development in fintech. The announcement comes from SBI CEO Yoshitaka Kitao, highlighting the transformative potential of Ripple’s hybrid remittance system.
By combining the XRP ledger and the Interledger Protocol (ILP), the solution aims to simplify cross-border payments and reduce the complexities of currency conversion.
The efficiency and cost-effectiveness of XRP’s ledger make it an ideal tool for facilitating international remittances. With Japanese financial institutions adopting Ripple’s technology, the move could set a precedent for global banking systems looking to modernize their cross-border payment frameworks.
📢How high would the price of XRP go if Japanese banks used XRP?
The Japanese banking sector, with a market cap of $6.372 trillion, could be a major player in XRP’s price. Conservative estimates suggest that a 1% adoption could boost XRP’s market cap by $63.72 billion, pushing its price to $3.50.
The most aggressive forecast, based on 10% adoption across the industry, sees Ripple’s price rising to $13.48. These numbers underscore the potential impact 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 acts as a psychological level to watch. A breakout beyond $3 could push the pair towards $3.84.
If Japanese banks use XRP, the rally is 57.81% from current prices. However, failure to maintain the momentum could see XRP revisit the $2 support zone.
🕛 Final Thoughts
If Japanese banks fully embrace XRP, its price could skyrocket, setting a new standard for cross-border payments. With strong fundamentals and growing adoption, the future of XRP looks increasingly bullish.