Key Takeaways
- XRP currently sits at $1.37, declining more than 4% across the week following four straight bearish sessions
- Exchange-traded funds tracking XRP experienced $5.83 million in capital withdrawals on Thursday
- Rakuten Wallet activated XRP spot trading and payment services on April 30, 2026
- This expansion brings XRP to 44 million Rakuten Pay participants and $23 billion worth of reward points
- Futures market indicators display cautiously optimistic sentiment with a 1.03 long-to-short ratio
Ripple’s native token XRP is changing hands at $1.37 this Friday, May 1, following a four-session losing streak that has erased over 4% of its value during the current week.
The digital asset is positioned beneath all major exponential moving averages. The 50-day EMA represents the closest barrier at $1.40, with the 100-day EMA forming secondary resistance at $1.51.
The Relative Strength Index on the daily timeframe registers 45, falling short of the neutral midpoint at 50. Meanwhile, the MACD indicator has descended deeper into bearish territory, collectively signaling persistent near-term downward momentum.
Regarding downside targets, immediate support exists around the $1.30 level, historically a zone where accumulation has occurred. Should that floor break, the lower boundary of XRP’s falling channel extends toward $0.75.
Institutional positioning reflected hesitation during the week. According to SoSoValue metrics, XRP-focused exchange-traded products saw $5.83 million in net withdrawals on Thursday, breaking a brief two-day accumulation period.
Rakuten Brings XRP to 44 Million Customers
On April 30, 2026, Rakuten Wallet launched comprehensive XRP spot trading and payment capabilities across Japan. Customers can now exchange Rakuten loyalty rewards for XRP and deploy the cryptocurrency at more than 5 million participating merchants globally.
The Rakuten platform maintains over 3 trillion loyalty points in circulation, representing approximately $23 billion in value, all of which can now be converted into XRP. This deployment provides XRP with direct access to 44 million active Rakuten Pay accounts.
Rakuten Wallet has introduced an incentive program for initial participants. Customers purchasing 30,000 yen or more in XRP earn 500 yen worth of XRP bonuses, while those exceeding 100,000 yen in purchases receive 1,500 yen in rewards.
The feature is presently accessible on Android devices through an early access release. The iOS version is scheduled for deployment shortly.
Community Enthusiasm Increases
Based on Santiment Intelligence metrics, XRP’s positive social media engagement has climbed to its second-strongest reading across the past nine months, partially attributed to the Rakuten deployment.
Despite elevated enthusiasm, XRP’s valuation hasn’t delivered a substantial upward reaction. The token has surrendered approximately 55% over the preceding nine-month period, according to TradingView analytics.
Derivatives metrics provide modest encouragement. CoinGlass data indicates XRP’s long-to-short ratio stands at 1.03, approaching its peak level in more than 30 days. The open interest-weighted funding rate also turned positive Friday at 0.0015%, indicating a slight tilt toward optimistic positioning.
The Rakuten integration is currently operational on Android platforms, with the iOS implementation awaiting final release.
