XRP Rebounds on Rakuten Payment-App Hopes, but Trend Reversal Is Not Yet Confirmed

XRP is rebounding on expectations it could be added to Japanese e-commerce company Rakuten's payments ecosystem, but analysts say more confirmation is needed before calling it a full trend reversal.

CoinDesk reported on Aug. 15 that investor sentiment improved after Rakuten moved a day earlier to pursue adding XRP to its payment application. The move raised expectations for broader real-world use if XRP payments are enabled on a platform with about 44 million users and more than 5 million merchants.

The price has already responded. XRP climbed to $1.38 from $1.32, breaking above resistance in the $1.325 to $1.33 range. The advance was driven by steady buying rather than a one-off spike, a constructive sign for market demand.

On-chain and derivatives indicators have also improved. CoinDesk said whale accumulation is increasing and futures open interest is expanding, showing positions are building. Longer-term sentiment, however, remains mixed as ETF outflows continue and realized losses widen.

Even so, the outlet said XRP is still trading within a descending channel on technical charts, making it too early to call a structural bullish reversal. In the near term, $1.37 is the key support level, and holding that line could keep the rebound going.

On the upside, the $1.40 to $1.42 range is the main resistance band for judging whether the trend is turning. If XRP fails to clear that zone, the move may prove to be only a short-term rebound. A drop back below $1.32 to $1.30 could also send the token back into its previous rangebound pattern.