Rakuten Wallet Launches New XRP Features, Bullish Sentiment Surges
- 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 |
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