XRP surpasses Ethereum as Japan's most active alternative

This shift not only highlights the continued attractiveness of tokens in Japan, but also shows a larger change in investor sentiment and institutional consistency in the nation’s mature crypto ecosystem.

Recently released data from SBI Group, one of Japan's most outstanding financial institutions, shows that XRP has officially surpassed Ethereum to become the country's most active alternative token.

This shift not only highlights the continued attractiveness of tokens in Japan, but also shows a larger change in investor sentiment and institutional consistency in the nation’s mature crypto ecosystem.

XRP exceeds Ethereum's transaction volume

New data from SBI VC Trade highlights the higher volumes of XRP/JPY pairs last month than ETH/JPY pairs. This milestone marks a significant change in Japan's altcoin landscape, as Ethereum has traditionally been second after Bitcoin.

Solana and Dogecoin also ranked in the top five of the most active altcoins, but XRP’s dominance over Ethereum is by far the most notable trend in the Japanese cryptocurrency market.

This shift in transaction volume suggests that Japanese investors have a strong preference for utility-driven digital assets.

Although Ethereum is known for its smart contract platform and DeFi applications, XRP is widely recognized for its role in facilitating faster and more cost-effective cross-border payments.

This distinction seems to be good for XRP as investors seek clear use cases and vision for the financial future.

Institutions are turning to XRP

One of the main forces driving XRP dominance is its deepening integration with Japan's financial sector. The report shows that nearly 80% of Japanese banks are preparing to integrate XRP into their systems within one year.

This strategic alignment between Ripple and traditional banking institutions has been going on for years and now seems to be paying off.

Ripple positioned XRP as a practical tool for cross-border transactions through partnerships with financial powerhouses like SBI Holdings. The gradual adoption of XRP in Japan's banking industry reflects growing trust in token-based technologies and real-world utilities.

SBI Group’s Role and Kitao Support

SBI Holdings CEO Yoshitaka Kitao has long been one of XRP's most determined supporters. His support stems from the ability of tokens to simplify international remittances, which he often mentions in comparisons with Bitcoin and XRP.

Kitao describes Bitcoin as a lack of “intrinsic value” while praising XRP’s scalable use cases in the areas of banking and fintech. This public criticism of Bitcoin has also led to a relative decline in the currency's existence in the Japanese market, further enhancing the status of XRP.

This continued recognition of key industry leaders plays a key role in XRP’s wide acceptance in Japan’s financial landscape.

Retail access extends via Mercoin

In addition to institutional adoption, XRP also gains appeal among retail users. Japanese e-commerce app Mercoin meets the needs of millions of users and now offers XRP as a supported crypto payment and investment option.

This move introduces XRP to a wider audience, especially first-time crypto buyers.

Former Ripple executive EMI Yoshikawa pointed out that a large portion of the Mercoin user base is composed of new immigrants with digital assets. This development is critical because it allows XRP to grow organically from scratch – not only through institutional support, but also through grassroots interactions with everyday consumers.

Redefine altcoins

XRP’s new status as the most traded altcoin in Japan is more than just a statistical anomaly, reflecting years of foundational work laid through strategic alliances, regulatory clarity and public trust.

As banking institutions and individual users continue to adopt XRP on a large scale, its dominance in the Japanese market is likely to be a model for other countries to explore functional, compliant crypto integration.

With the shift in investor behavior, settlements by financial institutions, and expansion of consumer access, XRP’s trajectory in Japan shows the long-term adoption, infrastructure and markets when they are ready.

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