XRP surged toward $1.38 on Monday, marking a 12% weekly gain as Japan’s Rakuten announced integration of the cryptocurrency for payments on its platform. The rally follows weeks of institutional accumulation and heightened whale activity, with analysts citing the Rakuten adoption as a key demand catalyst.
Rakuten, Japan’s largest e-commerce company by market share, confirmed the integration in a statement to Bloomberg, though specifics on rollout timing remain undisclosed. The move aligns with Japan’s progressive stance on digital asset regulation, where XRP holds legal tender status under the Payment Services Act.
“This is institutional validation at scale,” said a Tokyo-based fintech analyst who requested anonymity due to employer restrictions. “When a $15B revenue company adopts a token, it changes the liquidity profile.” Blockchain data shows 46M XRP moved to known institutional wallets last week, per CryptoQuant.
The rally comes despite ongoing legal uncertainty around Ripple Labs’ SEC case, with a final judgment expected in Q3 2026. Some traders remain cautious. “Price action looks strong, but regulatory overhangs could trigger profit-taking,” cautioned Markus Thielen, head researcher at Matrixport.
Market observers now watch whether other Asian e-commerce giants follow Rakuten’s lead. “If LINE or Mercari adopt similar measures, we could see XRP test its 2021 highs,” predicted Standard Chartered’s crypto research team.