The Japanese Yen Hits New Lows in Decades


When compared to the US dollar and the Euro, the Japanese yen hits multi-year lows. Amelie restates the SBI CEO’s forecast that all Japanese banks would use XRP by the year 2025.

Investors are understandably worried after recent news of a further drop in the value of the Japanese yen. Yoshitaka Kitao, CEO of SBI, reaffirmed his earlier comments on the potential of XRP when the yen touched a multi-year low.

Amelie, a crypto enthusiast on X, uploaded a post that showed Kitao’s liking for Ripple’s XRP. While Amelie did discuss the current decline of the yen, she did say that a new XRP payment system might help Japan recover. “We really must upgrade the system!” she said.

Yoshitaka Kitao, CEO of the prominent financial services business Strategic Business Innovator Group (SBI), made a statement on the impact of XRP in 2023, ignoring Bitcoin as an asset. According to his prediction, all Japanese banks would be using XRP by the year 2025. Major corporations are increasingly using XRP, which Kitao brought attention to. Furthermore, he stated,

“In addition, major fund transfer companies have begun to implement it, and the number of businesses participating in RippleNet is substantially increasing. Moreover, the use of “xRapid” with $XRP is becoming more prevalent. Thus, I believe that Ripple’s technology, together with “XRP,” will find its way into the international remittance industry in due time.

Amelie reiterated Kitao’s claims, arguing that increasing XRP use will mitigate the negative impact of the yen’s depreciation against the dollar and the euro. “According to the SBI CEO, every bank in Japan will be utilising XRP by 2025,” she said. At the same time, XRP’s price is falling, and it has fallen 3.18 percent to its current level of $0.5175. In spite of a little uptick of 0.18% over the last week, XRP has seen a steep decline of 17% over the past month.

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