Rakuten Point Conversion Introduced…XRP Demand Expected to Increase

▲ Source: RippleX X

XRP (Ripple) is fostering expectations for a large influx of real-world usage demand, catalyzed by its integration with Rakuten, Japan's largest retail platform.

According to the cryptocurrency media outlet Bitcoinist on May 1st (local time), Japan's Rakuten officially introduced a function allowing its points to be converted into XRP, thereby fully incorporating XRP into its payment and reward ecosystem. Users can convert Rakuten points into XRP and then trade them within the app or use them for actual payments at over 5 million affiliated stores via Rakuten Pay.

This new feature is noteworthy because it goes beyond simply expanding cryptocurrency services; it creates a structure that directly draws existing general consumers into the cryptocurrency market. The Rakuten ecosystem has accumulated approximately 3 trillion points, equivalent to about 23 billion dollars in rewards, and 44 million Rakuten Pay users are considered potential users of this feature.

Market reaction was swift. Social sentiment indicators related to XRP in Japan rose to their second-highest level in the past two years following this announcement. However, experts believe that sustained actual user participation is a more crucial variable than short-term price increases.

Meanwhile, the Japanese government is also considering reforming its cryptocurrency tax system. Discussions are underway to lower the digital asset capital gains tax, currently up to 55%, to around 20%. This is considered a significant factor that could change investor perceptions regarding the holding and use of cryptocurrencies, including XRP.

Ripple has been expanding its presence in the Japanese market since starting its collaboration with SBI Group in 2016 and is also pursuing the future introduction of the RLUSD stablecoin. Currently, XRP is trading at approximately $1.36, having risen by about 3.25% over the past month.

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