The $23 Billion Catalyst: Why XRP Social Sentiment Just Hit a 2-Year High

XRP is generating some of the loudest online buzz it has seen in two years, according to on-chain analytics firm Santiment, after Japanese retail giant Rakuten launched the ability for users to convert loyalty points directly into the token.

The move gives 44 million Rakuten Pay users access to the digital asset across a loyalty network carrying more than $23 billion in points, and Santiment says the resulting social media reaction ranks as XRP’s second-highest bullish sentiment reading in the past 24 months.

What the Rakuten Deal Actually Means

Starting today, Rakuten Wallet users in Japan can convert Rakuten Group points into XRP, trade the asset in-app, and spend it at over five million merchant locations nationwide. RippleX, the developer arm behind the XRP Ledger, confirmed the launch on X, describing 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 30,000 yen or more in XRP with bonus tokens, with larger prizes available through a lottery for those who invest 100,000 yen or more. An iOS version of the updated app is also planned, following the Android early release.

The scale here matters. Loyalty points are a consumer product that almost everyone already uses but rarely thinks about critically. As one observer noted on X, “points are familiar; crypto still isn’t,” and the ability to move seamlessly from a rewards balance into a digital asset that spends at real stores removes one of the bigger psychological barriers to crypto adoption.

Ripple has been building momentum around its broader ecosystem in recent weeks, with its RLUSD stablecoin getting listed for trading across more than 280 pairs on OKX, and the firm announcing a partnership with South Korean internet bank KBank to explore real-world blockchain remittances through its network.

That collaboration built on Ripple’s ongoing expansion across Asia, which also includes a deal with life insurance company Kyobo Life Insurance focused on tokenized government bond settlements.

Sentiment Is Running Hot, But Santiment Urges Patience

Despite the excitement, Santiment offered a note of caution alongside its data.

The firm added that integrations with major companies are “exactly what drives prices over the long term” and that XRP investors have been waiting through a rough stretch, with the asset down roughly 55% over the past nine months.

That context matters when you look at where XRP is trading right now. The token was sitting at around $1.37 at the time of writing, representing a drop of over 2% in 24 hours, as well as a nearly 4% dip over the past week per CoinGecko. However, it has recovered 3% in the last month, although that has done little to move it any closer to its July 2025 all-time high of $3.65.

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