Ripple Lover Spotted: Japanese Internet Giant GMO Says XRP Most Likely Crypto to Grow in 2019
The market seems to be turning bullish for XRP and its future in the space. According to the Japanese internet giant GMO, which operates the cryptocurrency exchange GMO Coin, has released the results of a web questionnaire that took place from January 30 and February 20.
The results show that XRP could be the most likely cryptocurrency to grow in 2019.
Could XRP Grow During 2019?
As per the survey, almost 50% of the 10,964 respondents said that XRP is the cryptocurrency that is the likeliest to rise in price during 2019. At the same time, 70% of the respondents believe in the future of virtual currencies and the space as a whole.
Additionally, more than 70% of those surveyed said that they are holding digital currencies as a long-term investment and roughly 90% of them started trading Bitcoin (BTC) and other digital assets after the bull market in 2017. 20% of the respondents mentioned that they started trading in 2019.
Most of the respondents said that they entered the market in order to obtain large returns in the future. Investors have also mentioned that market volatility, exchange security, and cryptocurrencies themselves are sources of anxiety.
Another study that was released by the Japanese Financial Services Agency (FSA) showed that there are over 3.5 million cryptocurrency traders in the country. In order to receive this information, the FSA gathered data from 17 different crypto exchanges in the market.
Bitcoin, Ethereum (ETH), Bitcoin Cash (BCH), XRP and Litecoin (LTC) are the most popular digital currencies in Japan, as per the data provided by the FSA. It is also worth mentioning that the Japanese yen (JPY) dominates the virtual currency market with 40% to 60% of global trades being made between JPY and digital assets.
Indeed, according to data provided by Coinhills, the Japanese yen has surpassed the US dollar in Bitcoin trading around the world.
GMO Internet Group has launched its own virtual currency exchange that is called GMO and is a subsidiary of GMO Coin. XRP seems to be a popular digital asset in the country. Indeed, there are some institutions in Japan that are using Ripple’s services. That means that, in the future, firms could start using XRP as a means to send and receive cross-border payments.
At the time of writing this article, XRP is the third largest virtual currency in the space. According to CoinMarketCap, XRP has a market capitalization of $13.07 billion and each XRP coin can be purchased for $0.315.