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XRP was trading at $1.3764 on May 1, up 0.66%, as the price converged at the apex of a narrowing symmetrical triangle. Market sentiment strengthened to its highest level in 24 months following a partnership announcement involving Rakuten Wallet, a major Japanese payments platform.
Ripple said Rakuten Wallet users can convert loyalty rewards into XRP. The announcement stated that Rakuten’s user base includes 44 million individuals, with loyalty rewards totaling more than $23 billion in value that can be redeemed for XRP.
The integration is designed to let users trade XRP within the application and spend XRP at more than 5 million participating merchants through the Rakuten Pay platform.
Ripple described the development as “one of the largest retail deployments of XRP as a payment method to date.” The announcement was followed by a 2% price increase over the subsequent 24 hours, though XRP remained 62% below its multi-year peak of $3.66 set in July 2025.
Analytics provider Santiment reported that XRP’s sentiment metric reached 3.9 on its Positive/Negative scale, a level not seen since early 2024. Santiment said this was a 240% increase from a 1.135 reading recorded on March 29, after a 20% price decline.
Santiment also noted that such announcements do not always immediately trigger major price moves, adding that favorable price action often follows after the initial surge of FOMO fades.
The symmetrical triangle on daily timeframes has been forming since February’s bottom at $1.11. With the upper and lower trendlines converging near current levels, chartists said the pattern is approaching a directional resolution.
Chartist Ali Charts said XRP is “coiling” within the triangle and that a validated breakout could produce a 26% move. Ali Charts identified $1.35 as the support threshold and $1.45 as resistance, labeling the area between them a “no-trade zone.” The analysis suggested that a daily close above $1.45 could target $1.82, while a close below $1.35 could point to $1.00.
Glassnode’s cost-basis analysis indicated that roughly 2 billion XRP tokens are held by market participants at an average acquisition cost between $1.40 and $1.45. The report said this accumulation range can generate selling pressure within that band.
The MACD histogram was described as showing a bullish crossover at the triangle’s apex, noted as the most favorable configuration since March. Parabolic SAR was reported at $1.4606, cited as an initial overhead resistance level.
Polymarket prediction contracts assigned a 34% likelihood that XRP closes today’s session at $1.40 and a 28% probability of a $1.35 close. The probability of closing above $1.45 was listed at 2% or lower.
At the XRP Las Vegas conference on April 30, Ripple’s CTO emeritus David Schwartz responded to the widely discussed $10,000 XRP price hypothesis. He argued that if rational market participants assigned even a 1% probability to such an outcome within a decade, the current price would already be above $20, emphasizing that markets efficiently price collective expectations.
The event also included the official announcement of the Ripple-OKX strategic partnership and the listing of Ripple’s RLUSD stablecoin product.
A measured-move projection from the symmetrical triangle suggested potential upside toward $1.55–$1.60, aligning with prior range highs recorded in March.
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