The XRP price is testing a long-term trendline that has historically supported major market cycles since 2020. A confirmed breakout above resistance could strengthen bullish momentum, while SBI Shinsei Bank is offering XRP rewards to customers depositing at least ¥300,000 (approximately $2,100) in six-month yen time deposits. XRP trades at $605.16 with a market capitalization of $80.58 billion.
The XRP price is testing a long-term trendline that could support a bullish recovery if buyers maintain control. A breakout above resistance may strengthen momentum, while SBI Shinsei Bank’s XRP rewards campaign could further boost retail exposure and connect traditional banking with digital assets.
XRP is trading at $605.16 with a 24-hour trading volume of $600.35 million and a market capitalization of $80.58 billion. Despite signs of stability over the last 24 hours, the XRP price structure and institutional adoption point to a bullish reversal ahead, according to crypto analyst STEPH IS CRYPTO.
The analyst noted that XRP is retesting a long-term trendline that has provided support since 2020. Its latest interaction with this level is drawing attention as buyers attempt to rebuild momentum.
If the trendline continues to hold, XRP could establish a stronger foundation for recovery. Any breakout above the key resistance level is bound to boost the bullish view on the coin and may take the XRP price to the area of $6 to $10 in the long run.
Those levels will require a lot of buying power and market momentum. At the moment, it is important for XRP to hold onto the trend line.
Meanwhile, SBI Shinsei Bank is bringing together savings and cryptocurrency by giving out XRP rewards to qualified customers participating in a deposit promotion scheme. Customers must deposit at least ¥300,000 (approximately $2,100) for six months in a yen time deposit account.
As the amount deposited rises, the rewards will also increase. The program helps enhance the relationship between Japan’s banking system and cryptocurrencies, especially since SBI already has long-term relations with Ripple and its XRP network.
Statements regarding Shinsei having converted billions in savings to XRP are a little far-fetched. However, this program might help increase acceptance of cryptocurrencies through banking systems in Japan.
The next step for the XRP price will be determined by the level of buyers’ resistance to the long-term trendline and ability to overcome resistance. The successful breakout may add impetus to bulls and reactivate higher targets, whereas a breakdown can lead to increased sell-offs.
The ongoing rewards program from SBI Shinsei Bank is positive for retail adoption in Japan.
