SBI’s Acceptance of XRPL Shows XRP’s Wider Reach Beyond the US

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SBI’s Acceptance of XRPL Shows XRP’s Wider Reach Beyond the US
  • SBI VC Trade launches validator node on XRP Ledger (XRPL), revealing the firm’s support for XRP.
  • JackTheRippler reveals Japan’s use of XRP, highlighting the acceptance of XRP outside of the US.
  • Despite the major development, XRP is trading at a downward trend, marking a 2%+ dip over the last day.

Ripple’s native token, XRP, has secured a historic achievement with the SBI VC Trade’s validator node launch on XRP Ledger (XRPL). JackTheRippler, a prominent figure in the crypto sector, recently shared an X post, revealing Japan’s use of XRP as a bridge currency.

On May 10, SBI VC Trade, a subsidiary of SBI Holdings, one of the leading financial institutions in Japan, announced the platform’s decision to become a validator on XRPL. The financial giant’s move demonstrates the industry’s unwavering support of XRP, hinting at the potential adoption of the token on a larger scale.

Despite the major development in the XRP ecosystem, the token, currently at $0.4925, is trading in a downward trend. Over the last 24 hours, XRP has seen a marginal decline of 2.99%. Meanwhile, the token has shown significant declines of 7.9% and 9.6% over the last week and month, respectively.

Notably, validators are crucial in verifying transactions and securing the network. Reinforcing the trust on XRP, SBI VC Trade is set to become a default Unique Node List (dUNL) validator on the Ledger. Reflecting on the XRP ecosystem’s new development, JackTheRippler wrote, “Ripple already conquered the financial system outside the United States of America!”

In a recent X post, JackTheRippler forecasted a potential uptick in XRP’s value, driven by the ecosystem’s major events, including financial institution integrations. He asserted that a new all-time high (ATH) for XRP is just a matter of time. Other major events spotlighted by JackTheRippler were the SEC-Ripple lawsuit’s final judgment, Ripple IPO, and potential XRP ETFs.

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