Ripple / Japanese Yen Price XRPJPY

This cryptocurrency/fiat currency pair displays the value of a single XRP token measured in Japanese Yen. XRP by Ripple Labs is a blockchain platform designed for quick transactions and the exchange of various forms of payment, such as cryptocurrencies, fiat currencies, frequent flyer miles and more. Due to its adoption by several mainstream financial institutions, XRP reached an overall market cap which positioned it as one of the largest cryptocurrencies in the world. The Yen is Japan’s national currency and is one of the most popular currencies traded in the foreign exchange market. The XRP JPY pair pins the two against each other.
Many factors could impact the XRP price. For example, if a well-known financial establishment partners with RIpple Labs, that could have a positive impact on the XRP price. Being a mainstream fiat currency, the JPY is also exposed to a variety of factors that could affect its value. One prominent example could be the fact that the Japanese economy is heavily dependent on exports, which is why the Yen often moves in the opposite direction of Japan’s leading index, the Nikkei.