30.04.202614:50 Forex Analysis & Reviews: Surge of optimism in XRP

According to the latest data from Santiment, XRP has seen a strong surge of optimism, driven by the token's recent addition to the wallet of Japanese tech giant Rakuten.

XRP came into focus after Rakuten announced it would include XRP in its eponymous crypto wallet. This development triggered a sharp uptick in optimism among XRP holders, as the data indicate. Although it did not produce an immediate price spike for XRP, integration with one of Japan's largest technology conglomerates is a notable step that could significantly increase XRP's accessibility and utility for a broad audience.

Adding XRP to Rakuten Wallet opens new possibilities for Japanese users, allowing them to easily store, send, and receive the cryptocurrency alongside other digital assets. This not only simplifies interaction with XRP but also lends it additional weight and legitimacy amid efforts to expand the digital currency ecosystem. Given Rakuten's reputation and scale of operations, the move could act as a catalyst for attracting new investors and users to the XRP space.

Some enthusiasts believe that the event could become an important driver for further price appreciation in XRP, because it demonstrates tangible steps toward integrating the cryptocurrency into major technology platforms and enhancing its practical value.

Trading recommendations:

Regarding Bitcoin's technical picture, buyers are currently targeting a return to $76,300, which opens a direct route to $77,700, and from there to $79,100. The most distant target is the high around $80,900, breaching which would signal attempts to return to a bull market. In case of a decline, I expect buyers at $74,700. A drop below that area could quickly push BTC toward $73,100. The furthest target there would be around $71,400.

Regarding Ethereum's technical picture, a clear consolidation above $2,290 opens a direct route to $2,353. The most distant target is the high near $2,409, breaching which would indicate strengthening bullish sentiment and a return of buyer interest. In case of a decline, I expect buyers at $2,225. A return of the instrument below that area could quickly send ETH toward $2,162. The furthest target there would be around $2,114.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.