27 Apr

Following the announcement of a subsequent decline in the Japanese Yen, which alarmed investors, SBI CEO Yoshitaka Kitao's earlier remarks regarding the potential of XRP gained traction once again.

A cryptocurrency enthusiast known on X as Amelie shared a post on X reflecting Kitao's preference for Ripple's XRP. Amelie offered her thoughts on the recent decline in the Yen and noted that it could be made up for by the establishment of an XRP payment system in Japan. She further stated, "We need to totally update the system!"

Disregarding Bitcoin as an asset, Yoshitaka Kitao, CEO of Strategic Business Innovator Group (SBI), a prominent financial services company, spoke in 2023 on the impact of XRP. He predicted that by 2025, all Japanese banks would be using XRP. Kitao emphasized how big businesses are increasingly using XRP. He continued,

"Big fund transfer firms have also started to implement it; additionally, the use of $XRP for "xRapid" is expanding, and the number of businesses taking part in RippleNet is rapidly rising. Thus, I believe that "XRP" and the international remittance industry will eventually employ Ripple's technology.  

Amelie reiterated Kitao's assertion, arguing that further XRP usage will mitigate the Yen's depreciating value relative to the dollar and the euro. "It fits the narrative that every bank in Japan will be using XRP by 2025, according to the SBI CEO," the woman said. In the meantime, XRP is on a downward trend, with a price drop of 3.18% to $0.5175. In one week, XRP increased by 0.18%, but in one month, there was a notable decline of 17%.

April 2024, Cryptoniteuae 

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