Rakuten Moves XRP: Japanese Conglomerates Target Crypto Markets

Rakuten’s recent activity in XRP could generate a modest rebound in the market over the short term. However, a 1.33% decline over the past 24 hours, an RSI of 34.66, and the SMA20 remaining below the SMA50 collectively reinforce a general downtrend. The MACD hovering near zero indicates that the trend has not yet crystallized. Consequently, the impact of the news is likely to be limited in the near term. In the short run, the price is expected to oscillate around current support levels.