XRP Reaches 44 Million Users in Japan, But Is This a Breakout Moment?

Rakuten Wallet will add XRP for spot trading on April 15, connecting this token to Japan's largest loyalty and payment ecosystem.

Rakuten Group's crypto division announced this listing along with four other assets, including Stellar
XLMUSD
, Dogecoin
DOGEUSD
, Shiba Inu
SHIBUSD
, and Toncoin (TON).

XRP Enters Rakuten's Consumer Ecosystem

Rakuten Wallet's announcement confirms that these five new tokens will support exchanges with Rakuten Points. This largest loyalty program in Japan has issued over 3 trillion points, valued at approximately US$23 million.

This integration allows users to convert points directly into XRP without needing fiat deposits. Afterwards, holders can top up XRP into Rakuten Cash and use it via Rakuten Pay at over 5 million merchants across Japan.

Currently, Rakuten Pay serves around 44 million users, making it one of the largest retail crypto on-ramps in a regulated economy.

To celebrate the XRP listing, Rakuten Wallet is running a promotion with XRP prizes up to ¥100,000 (US$630) for qualifying purchases until May 15.

XRP Price Faces Technical Resistance

Although there is a positive catalyst, XRP's price remains around US$1.37, trapped in a descending triangle pattern that has limited its trend since February.

A descending triangle is a bearish chart pattern used in technical analysis to indicate potential continuation of a downtrend.

The token faces immediate resistance at US$1.40 and needs to break through US$1.45 to signal a meaningful recovery.

A daily candlestick closing above US$1.43 would confirm the invalidation of the bearish trend, indicating that this chart pattern no longer holds back XRP's price. A breakout above the upper trendline of this triangle could change XRP's short-term outlook.

Support is around US$1.29. If the price drops below this level, selling pressure could intensify. Traders looking to short XRP should wait for a daily candlestick confirmation closing below US$1.31.

Whether this Rakuten integration truly impacts XRP demand will heavily depend on user adoption levels in the weeks following the April 15 launch.

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