Despite being criticized as one of the "worst-performing" major cryptocurrencies globally, Ripple's XRP has emerged as Japan's second most popular digital asset, surpassing Ethereum (ETH) in local preference according to recent surveys.
XRP's Dominance in the Japanese Crypto Market
BITMAX, the cryptocurrency exchange operated by messaging giant LINE, conducted a Twitter survey with 1,498 Japanese traders:
- 26% preferred Bitcoin (BTC)
- 25% favored XRP
- 9% chose Ethereum (ETH)
👉 Discover why XRP remains resilient in Asian markets
This aligns with the Japan Virtual Currency Exchange Association's (JVCEA) 2019 findings, which ranked XRP as the second-most-held cryptocurrency in yen-denominated portfolios, followed by ETH.
Global Decline vs. Regional Strength
While XRP maintains strong adoption in Japan, its global traction has waned:
- Twitter followers dropped 82% since January 2018 (per eToro/The Tie report)
- Q1 2020 saw a 16% decline in XRP-related discussions
- Messari labeled it the "worst-performing major crypto" of 2019
- Market cap fell from $130 billion** (2018) to **under $9 billion
Key Factors Behind XRP's Japanese Appeal
- Strategic partnerships with Japanese financial institutions
- Fast transaction speeds appealing to high-volume traders
- Regulatory clarity compared to other altcoins
FAQ: XRP's Market Position
Q: Is XRP still the third-largest cryptocurrency by market cap?
A: As of recent data, Tether (USDT) has overtaken XRP for third place behind BTC and ETH.
Q: Why does XRP perform better in Japan than globally?
A: Japan's regulated crypto environment favors XRP's bank-friendly use cases, while global traders often prioritize speculative assets.
Q: Can XRP regain its 2018 market dominance?
A: Market analysts remain divided, though its strong institutional adoption in Asia suggests regional growth potential.
👉 Explore institutional crypto adoption trends
Conclusion: A Tale of Two Markets
XRP's dichotomy highlights how cryptocurrency valuation drivers vary regionally. While Western markets prioritize decentralized applications (favoring ETH), Japan's emphasis on payment efficiency and regulatory compliance creates unique opportunities for XRP.
Note: This content is for informational purposes only and does not constitute financial advice. Always conduct independent research before investing.
### SEO Keywords Integrated:
1. Ripple XRP
2. Japanese cryptocurrency market
3. Ethereum ETH
4. Crypto adoption
5. BITMAX survey
6. Altcoin performance
7. Market capitalization