XRP surged 8% in Friday's trading session, shortly after Ripple announced its partnership with the Japanese financial group SBI Holdings to introduce Ripple USD stablecoin (RLUSD) into the Japanese market. This rally is not only driven by expectations of its application potential in the remittance sector but also boosted by the "dovish" remarks from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Conference.
Ripple partners with SBI to bring RLUSD to Japan
According to a press release issued on Friday, Ripple has signed a Memorandum of Understanding (MoU) with financial group SBI Holdings to introduce Ripple USD stablecoin (RLUSD) into the Japanese market.
It is expected that the deployment will begin as early as Q1/2026 through SBI VC Trade – the digital asset subsidiary of SBI Holdings – with a legal distribution license already granted.
"The partnership with SBI is not only limited to technology but also a joint effort to build a transparent, reliable, and compliant financial future," emphasized Jack McDonald, Senior Vice President in charge of Ripple's Stablecoin division.
On the partner's side, SBI stated that they are the first company in Japan to receive a license for providing electronic payment instrument exchange services, and they have officially launched stablecoin services.
"The launch of RLUSD not only expands the choice of stablecoins in the Japanese market but also marks an important step in affirming the reliability and utility of stablecoins in the national financial system," said 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 Fed rate cut expectations
Along with the news of the partnership agreement, the price of XRP surged 8% within 24 hours, signaling a positive trend across the cryptocurrency market. This increase came right after the speech at Jackson Hole on Friday, when Fed Chairman Jerome Powell hinted at the possibility of interest rate cuts in the upcoming policy meeting scheduled for September.
According to Powell, the weakening labor market is becoming a key factor that may force the Fed to adjust its policy stance, which has been tightly maintained over time.
Technical Analysis: XRP aims for the 3.39 USD mark
On the technical chart, XRP is currently retesting the lower boundary of the symmetrical triangle model, after surpassing the 50-day simple moving average (SMA) and the 14-day exponential moving average (EMA).
If successfully breaking through the upper boundary of the model, XRP could extend its upward momentum towards the important resistance zone at 3.39 USD. Maintaining stable candle closes above this level will open up opportunities for the cryptocurrency to challenge the historical peak again.
The Relative Strength Index (RSI) is approaching the neutral zone and closely following the average line, further reinforcing the bullish trend signal.
Conversely, if the closing price falls below 2.78 USD, the bullish scenario will be invalidated, pulling XRP back to the support level of 2.60 USD – which is protected by the 100-day simple moving average (SMA).