XRP Price Decline Amid Macro Sentiment Weakness, SBI Holdings Introduces Crypto Rewards Program

The global cryptocurrency market has been experiencing a decline in recent times, with the XRP price being no exception. Over the last 30 days, the price of XRP has decreased by 22%, reaching an oversold territory according to technical analysis. This decline is largely attributed to negative macro sentiment and a lack of immediate bullish catalysts.

The trend remains bearish below key moving averages, but oversold conditions near major support create a potential zone for stabilization. A daily close below $1.13 would confirm bearish continuation toward $1.00.

Meanwhile, Ripple's partner SBI Holdings is introducing a new crypto rewards program that will offer clients incentives in Bitcoin, Ethereum, and XRP. The program's launch is expected to take place between September and November in Japan. For this, customers will be provided with crypto-based vouchers proportional to the interest on their fiat deposits.