XRP has generated some of the strongest online buzz it has seen in two years, according to on-chain analytics firm Santiment, after Japanese retail giant Rakuten enabled users to convert loyalty points directly into the token.
The new feature gives 44 million Rakuten Pay users access to XRP across a loyalty network containing more than $23 billion in points. Santiment reports that the social media response ranks as XRP’s second-highest bullish sentiment reading in the past 24 months.
What the Rakuten Deal Actually Means
Beginning today, Rakuten Wallet users in Japan can convert Rakuten Group points into XRP, trade the asset in-app, and spend it at more than five million merchant locations nationwide. RippleX, the developer arm behind the XRP Ledger, confirmed the launch on X and described it as “one of the largest retail deployments of XRP as a payment method to date.”
Rakuten Wallet is running a launch campaign that rewards users who purchase at least 30,000 yen in XRP with bonus tokens. Larger prizes are available via a lottery for customers who invest 100,000 yen or more. An iOS update is planned after the Android early release.
The scale of this rollout is significant. Loyalty points are a familiar consumer product that most people use without much thought. As one commentator noted on X, “points are familiar; crypto still isn’t.” Allowing customers to move seamlessly from a rewards balance into a digital asset that can be spent at real stores removes a major psychological barrier to crypto adoption.
Ripple has been accelerating activity across its broader ecosystem. Its RLUSD stablecoin was recently listed for trading across more than 280 pairs on OKX, and the company announced a partnership with South Korean internet bank KBank to explore real-world blockchain remittances through its network.
That expansion across Asia also includes a deal with Kyobo Life Insurance focused on tokenized government bond settlements, further demonstrating Ripple’s growing presence in regional financial infrastructure.
Sentiment Is Running Hot, But Santiment Urges Patience
Despite the excitement, Santiment cautioned that such events do not always produce immediate price spikes.
“These events don’t often instantly lead to major price outbreaks,” the analytics firm wrote. “It is usually after the initial wave of euphoria, after FOMO calms down, that the impact of this kind of news sees the bullish outcome.”
Santiment emphasized that integrations with major companies are the kinds of developments that drive prices over the long term. XRP investors have weathered a difficult stretch recently, with the asset down roughly 55% over the past nine months.
That context is important when examining XRP’s current market position. At the time of writing, the token traded around $1.37, down more than 2% in 24 hours and nearly 4% over the past week, according to CoinGecko. It has recovered roughly 3% over the last month, but remains well below its July 2025 all-time high of $3.65.