TLDR
- XRP currently sits at $1.37, declining more than 4% over the week following four straight losing sessions
- Thursday saw $5.83 million exit from US-based XRP spot ETFs
- April 30, 2026 marked Rakuten Wallet’s official rollout of XRP spot trading and payment capabilities
- This partnership connects XRP with 44 million Rakuten Pay active users and approximately $23 billion worth of loyalty points
- Trading derivatives indicate modest bullish outlook with a 1.03 long-to-short ratio
XRP from Ripple is currently valued at $1.37 this Friday, May 1, following a streak of four consecutive declining sessions that resulted in weekly losses exceeding 4%.
The token’s value remains beneath all major exponential moving averages. Immediate resistance appears at the 50-day EMA positioned at $1.40, with the 100-day EMA at $1.51 presenting additional overhead pressure.
The daily chart’s RSI registers at 45, beneath the neutral threshold of 50. Meanwhile, the MACD indicator has slipped deeper into bearish territory, with both metrics signaling ongoing near-term downward momentum.
For support levels, approximately $1.30 represents a zone where previous buying interest emerged. Should that level fail, XRP’s descending channel lower boundary near $0.75 becomes relevant.
Institutional flows reflected hesitation during the week. According to SoSoValue tracking, XRP spot ETFs experienced $5.83 million in withdrawals on Thursday, breaking a two-session inflow pattern.
Rakuten Expands XRP Access to 44 Million Users
Rakuten Wallet launched XRP spot trading and payment services in Japan on April 30, 2026. The platform now allows users to exchange Rakuten loyalty points for XRP and utilize the cryptocurrency across more than 5 million merchant locations globally.
The broader Rakuten network contains over 3 trillion loyalty points in circulation, representing approximately $23 billion in value, all now convertible to XRP. This deployment provides XRP with direct access to Rakuten Pay’s 44 million active user base.
Rakuten Wallet has introduced incentive programs for initial users. Participants purchasing 30,000 yen or more in XRP receive 500 yen worth of XRP bonuses, while purchases exceeding 100,000 yen qualify for 1,500 yen in rewards.
The service launched initially on Android devices as an early access version. Apple iOS compatibility is scheduled for a subsequent release.
Social Sentiment Shows Strength
Data from Santiment Intelligence reveals that XRP’s positive social media discussion has reached its second-highest point over the last nine months, partially attributed to the Rakuten deployment.
However, the favorable sentiment hasn’t translated into significant price action. The token has declined approximately 55% during the past nine months, based on TradingView metrics.
Derivatives metrics provide some encouraging signals. CoinGlass data indicates XRP’s long-to-short ratio stands at 1.03, approaching its peak level in more than a month. Additionally, the OI-weighted funding rate turned positive Friday at 0.0015%, indicating a slight tilt toward bullish trader positioning.
The Rakuten platform currently operates on Android devices, with iOS availability awaiting future deployment.
