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The Bank of Japan plans to launch an XRP-based payment system before the end of 2025, signaling massive upward potential for the XRP price.
The Bank of Japan has announced plans to introduce XRP-based payment systems in all domestic banks by the end of 2025.
SBI Holdings, one of the largest financial groups in Japan, is leading this initiative. CEO Yoshitaka Kitao believes that XRP can improve international money transfers by lowering costs and speeding up the process.
Japan is set to use XRP to improve its $6.37 trillion banking sector, introducing faster and more efficient transactions. SBI Holdings is making XRP a bigger part of its company beyond just banking. Shareholders can now choose to receive XRP as a reward in their benefits package.
Projected Impact On XRP’s Valuation
The market is buzzing with predictions about XRP’s future price. Analysts say that if 1% of Japan’s banks adopt XRP, the price could rise to about $3.50. If 10% of banks adopt it, the price could reach around $13.48.
Currently, XRP is trading around the $2 mark, and analysts are setting its next target at $2.50.
[…] at the market sentiment, Ripple’s XRP has surged 4.76% over the past month, signalling rising investor confidence. Additionally, Whales have been accumulating XRP in the same […]