Japanese Yen Falls To Multi-Year Lows: Will Banks Adopt XRP By 2025?

Recent reports revealed a subsequent decline in the Japanese Yen, keeping investors anxious. While the Yen dropped to a multi-year low, SBI CEO Yoshitaka Kitao’s previous statement on the potential of XRP once again gained traction.

A crypto enthusiast, known on X as Amelie shared an X post reflecting Kitao’s preference for Ripple’s XRP. While Amelie shared insights on the recent downfall of the Yen, she stated that it could be compensated with the establishment of an XRP payment system in Japan. She added, “We need to totally update the system!”

In 2023, Yoshitaka Kitao, the CEO of Strategic Business Innovator Group (SBI), a leading financial service firm, commented on the influence of XRP, disregarding Bitcoin as an asset. He forecasted that XRP would be used by every Japanese bank by 2025. Kitao highlighted the increasing adoption of XRP by major companies. He added,

“Major fund transfer companies have also begun to introduce it, and the use of “xRapid” using $XRP is becoming more widespread, and the number of companies participating in RippleNet is increasing significantly. Therefore, in that sense, I think that Ripple’s technology will gradually be used in the international remittance field, as well as “XRP.”

Reiterating Kitao’s words, Amelie posited that the declining price of the Yen against the dollar and euro would be eased with the growing adoption of XRP. She stated, “It fits the narrative that every bank in Japan will be using XRP by 2025, according to the SBI CEO.”Meanwhile, XRP is experiencing a downtrend, with its price currently at $0.5175, down by 3.18%. Despite a slight increase of 0.18% in one week, XRP has marked a significant decrease of 17% in one month.