According to BroadChain, at 00:00 on April 23, NewsBTC reported that XRP has gained a clear regulatory status in Japan. Crypto analyst UnknowDLT pointed out that Japan has reclassified crypto assets as financial instruments, meaning XRP has legally obtained a status equivalent to stocks or bonds. This move occurred in one of the world's most strictly regulated markets, providing XRP with a legal foundation parallel to traditional financial assets.
The application ecosystem of XRP in Japan continues to expand. Through cooperation with the SBI Group, Ripple early on launched the ODL (On-Demand Liquidity) solution in Japan, utilizing XRP as a bridging asset. Recently, SBI collaborated with Tobu Top Tours to issue prepaid payment tokens on the XRP Ledger, tapping into a market worth 30 trillion yen. Additionally, Rakuten Wallet has listed XRP for its 44 million users, who can use points to purchase and spend at over 5 million merchants nationwide.
Despite recent price movements forming a descending triangle, analyst Egrag Crypto maintains a bullish outlook. He believes the current trend is a liquidity wash within a macro uptrend channel, not a trend failure. As long as XRP continues to rise within this macro channel, the trend remains intact. He predicts that after a 14-month accumulation period, XRP is poised for explosive growth, with a target range of $9 to $13.
As of press time, XRP is trading at $1.45, up within 24 hours. Analysts emphasize that the triangle is a short-term pattern, while the channel defines the cycle. The long-term structure, the "Rainbow Bridge," remains bullish, indicating that the upward trend is not yet over.