XRP breaks out thanks to a series of positive news: Where is the next target?

XRP surged 8% in trading on Friday, shortly after Ripple announced a partnership with Japanese financial group SBI Holdings to introduce the stablecoin Ripple USD (RLUSD) into the Japanese market. This increase is driven not only by expectations of its potential application in the remittance sector but also fueled by the "dovish" remarks of Federal Reserve Chairman (Fed) Jerome Powell at the Jackson Hole Economic Symposium.

Ripple signs partnership with SBI to introduce RLUSD in Japan

According to a press release issued last Friday, Ripple has signed a Memorandum of Understanding (MoU) with the financial group SBI Holdings to introduce the Ripple USD stablecoin (RLUSD) into the Japanese market.

It is expected that the implementation will begin in the first quarter of 2026 through SBI VC Trade – the subsidiary specializing in digital assets of SBI Holdings – with a legally granted distribution license.

"The partnership with SBI is not just limited to technology aspects, but is also a joint effort to build a transparent, reliable, and regulatory-compliant financial future," said Mr. Jack McDonald, Senior Vice President in charge of the Stablecoin segment at Ripple.

On the partner side, SBI stated that they are the first company in Japan to receive a license for Providing Electronic Payment Instrument Exchange Services, and have now officially launched stablecoin services.

"The launch of RLUSD not only expands the stablecoin options in the Japanese market but also marks an important step in affirming the reliability and utility of stablecoins in the national financial system," said Mr. Tomohiko Kondo, CEO of SBI VC Trade.

RLUSD is a stablecoin pegged to the USD, operating simultaneously on both the XRP Ledger (XRPL) and Ethereum.

XRP benefits from expectations of Fed rate cuts

Along with the information about the cooperation agreement, the price of XRP surged by 8% within just 24 hours, indicating a positive signal spreading across the cryptocurrency market. This upward trend emerged right after the speech at Jackson Hole last Friday, when Fed Chairman Jerome Powell hinted at the possibility of an interest rate cut in the upcoming policy meeting scheduled for September.

According to Powell, the weakening of the labor market is becoming a key factor that may force the Fed to adjust its policy stance that has been tightly maintained over the past period.

Technical Analysis: XRP heads towards the 3.39 USD mark

On the technical chart, XRP is currently testing the lower boundary of the symmetrical triangle pattern, after breaking above the 50-day simple moving average (SMA) and the 14-day exponential moving average (EMA).

If it successfully breaks through the upper boundary of the model, XRP could extend the upward momentum towards the important resistance area at 3.39 USD. Maintaining a stable candle close above this level will open up opportunities for the cryptocurrency to challenge the historical peak again.

XRP/USDT daily chart | Source: TradingViewThe relative strength index (RSI) is approaching the neutral zone and is close to the average line, further reinforcing the bullish trend signal.

On the contrary, if the closing price is below 2.78 USD, the bullish scenario will be invalidated, pulling XRP back to the support level of 2.60 USD – a level protected by the 100-day exponential moving average (SMA).

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