XRP Gains 3% on SBI, Remit, Tottori Bank Payment Activation
Ripple’s XRP inched higher by 3% to $1.44, reflecting the broader crypto market on Tuesday. Trading volume is down 18% over the past 24 hours to $2.5 billion, data from a crypto exchange showed.
XRP’s price movement is primarily driven by beta lift from sustained institutional inflows into crypto via exchange-traded funds (ETFs), with no clear coin-specific catalyst over the last 24 hours.
SBI Remit and Tottori Bank activated a new international remittance service, leveraging Ripple’s payment rails. The model allows XRP to act as a bridge currency for faster, cheaper settlements, providing a regulated alternative to SWIFT for specific transactions.
This expands the utility of Ripple’s longstanding partnership with Japan’s SBI Group, CoinMarketCap said in a report.
This is bullish for XRP because it embeds the asset directly into a live, institutional payment corridor, demonstrating tangible utility and adoption in a major financial market. It strengthens the case for XRP as a settlement tool beyond speculation, crypto platform acknowledged,
XRP’s modest gain mirrors the broader market, where the total crypto cap rose 0.69%. Bitcoin spot ETFs saw $238.37 million in net inflows on April 20, marking a fifth consecutive day of positive flows.
This institutional demand, coupled with easing geopolitical tensions, provided a rising tide for major assets like XRP. The token price move was more about general market strength than unique alpha.
Crypto analysts said there is no major new catalyst emerged in the last 24h, but recent developments continue to support sentiment. These include Ripple’s quantum-resistant XRP Ledger roadmap and four consecutive days of XRP ETF inflows last week, totalling $38.86 million.
Whale accumulation also remains a theme, with large wallets buying over 11 million XRP daily recently. This suggests that underlying institutional and large investor interest is providing a floor, amplifying beta moves.
The immediate path hinges on macro events and key technical levels. The ceasefire in the Middle East expires on April 22; a lapse could trigger risk-off selling.
Technically, XRP is trading above its 30-day average of $1.39, with immediate resistance at the 23.6% Fibonacci retracement level of $1.45.
The bullish structure remains intact but is vulnerable to external shocks. Watch for: A daily close above $1.45 on high volume to signal a breakout toward $1.57.
XRP is consolidating recent weekly gains within a rising market, supported by institutional flows but capped by overhead resistance. UK Bonds on Alert as Starmer Scrutiny Deepens, Truss Echoes Grow
