Key Highlights
- XRP currently trades at $1.37, experiencing more than 4% decline across the week with four consecutive down days
- Thursday saw $5.83 million exit US-listed XRP spot ETFs
- Rakuten Wallet activated XRP spot trading and payment features on April 30, 2026
- The platform connects XRP to 44 million Rakuten Pay members and $23 billion worth of loyalty points
- Trading derivatives indicate slight bullish positioning, with long-to-short ratio reaching 1.03
Ripple’s XRP stands at $1.37 this Friday, May 1, following a stretch of four consecutive declining sessions that resulted in weekly losses exceeding 4%.
The token remains positioned beneath all major exponential moving averages. Immediate resistance appears at the 50-day EMA level of $1.40, with the 100-day EMA marking another barrier at $1.51.
Daily chart indicators reveal the RSI resting at 45, positioned under the 50 neutral threshold. The MACD continues its descent into bearish territory, with both metrics signaling ongoing downward pressure in the near term.
Support levels emerge around $1.30, a zone where buying activity has previously materialized. Further decline could test the descending channel’s lower edge near $0.75.
Institutional activity reflected hesitation throughout the week. SoSoValue tracking reveals XRP spot ETFs experienced $5.83 million in withdrawals on Thursday, breaking a two-session inflow pattern.
Rakuten Extends XRP Access to 44 Million Members
Rakuten Wallet introduced XRP spot trading and payment capabilities in Japan on April 30, 2026. Members can now transform Rakuten loyalty points into XRP and deploy the digital asset across more than 5 million merchant outlets globally.
The Rakuten platform manages over 3 trillion active loyalty points in circulation, representing approximately $23 billion in value, all available for XRP conversion. This deployment provides XRP with direct access to 44 million Rakuten Pay members.
Rakuten Wallet launched an incentive program for initial participants. Members purchasing 30,000 yen or more in XRP receive 500 yen worth of XRP bonuses, with purchases exceeding 100,000 yen qualifying for 1,500 yen in rewards.
The feature went live on Android devices as an early access release. iOS compatibility remains in development.
Social Metrics Show Upward Trend
Santiment Intelligence data indicates XRP’s positive social media engagement has climbed to its second-strongest reading across the past nine months, influenced partly by the Rakuten deployment.
Price action has yet to mirror the elevated sentiment. The token has declined approximately 55% throughout the past nine months, according to TradingView records.
Derivatives markets present moderately encouraging signals. CoinGlass tracking places XRP’s long-to-short ratio at 1.03, approaching its peak reading in more than 30 days. The OI-weighted funding rate transitioned to positive territory Friday at 0.0015%, indicating slight preference toward long positions.
The Rakuten platform operates on Android devices currently, with iOS availability scheduled for future release.
