Few of the top cryptocurrencies in the past met expectations, and many others didn't even last long. Just a few of cryptocurrencies managed to hold onto their dominant positions in the crypto industry over the years despite several waves of FUD and market pressures.
Apart from Bitcoin and Ethereum, XRP is one of the few cryptocurrencies to have constantly maintained its supremacy. Notwithstanding the XRP SEC lawsuit's unknowns, the cryptocurrency was supported by a sizable community.
The US Securities and Exchange Commission (SEC) claims that XRP was marketed in the form of unregistered securities, and the litigation is currently in its final stages. The court has yet to issue its summary judgment on this claim. A recent study discovered that there is a reason why the XRP community is stronger in some places than others.
Why XRP has a sizable community base in Japan is still a mystery. The altcoin outperforms Ethereum, which is only the third most popular cryptocurrency in Japan, with popularity levels comparable to those of Bitcoin. There are real reasons for XRP's appeal, according to a study on non-performing assets cases and cryptocurrency in Japan. The main factor in XRP's success in Japan is its connection to the Japanese venture capital firm SBI Holdings.
In the study, it was discovered that 25% of respondents chose XRP as their preferred cryptocurrency, while 26% chose Bitcoin. In terms of popularity, Ethereum is a far-off third coin.
Yoshitaka Kitao, the CEO of SBI Holdings, formerly served on the Ripple board of directors. SBI and Ripple have been working together since 2017, around the time XRP gained popularity in Japan. In reality, in January 2023, news broke about SBI's XRP shareholder bonus. The business has given its stockholders the incentive of getting rewards in XRP.
