Rakuten Wallet Launches New XRP Features, Bullish Sentiment Surges

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

Should l Buy XRP?

Feature Launch: Rakuten Wallet has introduced new XRP features in Japan, allowing users to convert Rakuten loyalty points into XRP via the mobile app, significantly enhancing user payment flexibility and convenience.
Market Access Expansion: Users can now utilize XRP for payments at over 5 million merchant locations across Japan, leveraging Rakuten's extensive retail network, which is expected to significantly boost XRP's market acceptance and usage frequency.
Large User Base: With approximately 44 million active users and over 3 trillion loyalty points in circulation, equivalent to about $23 billion in points convertible to XRP, this development further strengthens XRP's potential user base.
Bullish Sentiment Recovery: According to Santiment, XRP is experiencing its second-highest bullish sentiment on social media in two years; although short-term price fluctuations are minimal, the long-term bullish sentiment may drive market reactions.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 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	1.234	1.29	1.351	1.407	1.467	1.523	1.584
Fibonacci	1.29	1.334	1.362	1.407	1.451	1.479	1.523

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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