Rakuten Wallet Integrates XRP for Payments

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

Should l Buy XRP?

User Base Expansion: Rakuten Wallet's addition of XRP as a payment method allows approximately 44 million Rakuten Pay users to directly utilize the token, significantly enhancing XRP's accessibility and acceptance in the Japanese market.
Innovative Points Redemption: Users can now purchase XRP with Rakuten loyalty points and spend it at Rakuten's online and offline merchants, breaking the traditional closed-loop of rewards and creating a new avenue for everyday spending.
Market Penetration Advantage: By tying XRP to Rakuten Points, the company transforms this widely used loyalty currency into a liquid cryptocurrency payment tool, bolstering its competitiveness in Japan's retail market.
Digital Asset Distribution Potential: This move illustrates how loyalty programs and payment super-apps in Asia can serve as powerful distribution engines for digital assets, rapidly introducing new tokens and use cases to tens of millions of existing users.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 3 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.132	1.214	1.291	1.372	1.45	1.531	1.608
Fibonacci	1.214	1.274	1.312	1.372	1.433	1.47	1.531

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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