Japan may be "upgrading" XRP through regulation, not code: The FSA is said to be considering reclassifying XRP as a financial product under the Financial Instruments & Exchange Act. If true, XRP will move closer to the standard of an investment asset in a notoriously conservative capital market.
The important point is: the "securities" management style will lead to stricter disclosure, stricter compliance with exchanges, and a clear legal framework — conditions often required for pension funds/insurance/large institutions to consider participation.
Currently, the market remains silent due to the lack of official confirmation from Ripple/FSA; volume decreased by >20%, price around $1.90 and downward pressure still persists.
Technical: needs to reclaim $2.05–$2.10 to reverse; below that, $1.80 is critical support.
If Japan really does it, this is not only a short-term catalyst but also sets a legal precedent — and in crypto, precedents are often more valuable than sensational news.