#FOMC July Minutes XRP records a 7% increase following the Federal Reserve's dovish hints and Ripple's partnership with SB:

Ripple has announced a partnership with SB to begin distributing its stablecoin RLUSD in Japan.
Federal Reserve Chairman Powell made dovish comments at Jackson Hole, signaling the possibility of rate cuts.
XRP surpasses the 50-day moving average as it tests the lower bound of a major symmetrical triangle.
XRP rose by 8% on Friday after Ripple announced a partnership with the Japanese company SBI Holdings to start distributing the Ripple USD (RLUSD) stablecoin in Japan. The increase in the remittance-backed currency was also partially fueled by the soft hints from Federal Reserve (Fed) Chairman Jerome Powell in his speech at the Jackson Hole Economic Symposium.
XRP rises after Ripple's partnership to launch RLUSD across Japan and the Federal Reserve's dovish comments.
The payment company Ripple signed a memorandum of understanding (MoU) to introduce RLUSD to the Japanese market, according to a statement on Friday.
It is scheduled to be launched in the first quarter of 2026 through the licensed distributor SBI VC, which is a subsidiary focused on cryptocurrencies under the SBI Holdings group.
"Our partnership with SBI has always been about more than just technology; it’s about building a reliable and compliant financial future," said Jack McDonald, Senior Vice President of Ripple in stablecoins.
SBI claims to be the first company in Japan to obtain a license as a provider of electronic payment instrument exchange services and has already begun offering stablecoin services.
"The introduction of RLUSD will not only expand the options for stablecoins in the Japanese market, but it is also a significant step forward in the reliability and convenience of stablecoins in the Japanese market," said Tomohiro Kondo, CEO of SBI VC Trade.
RLUSD is a dominant stablecoin pegged to the US dollar operating on the XRP Ledger (XRPL) and Ethereum blockchain.
Meanwhile, XRP rose by 8% over the past 24 hours. This increase follows a broader uptick in the cryptocurrency market after Federal Reserve Chairman Powell's speech at Jackson Hole on Friday, which hinted at a possible interest rate cut in the upcoming policy makers' meeting in September.
Powell pointed out that weakness in the labor market may lead the agency to consider a change in policy stance.
XRP is testing a symmetrical triangle trend line and is looking towards the 3.39 level.
XRP tests the lower line of a symmetrical triangle after surpassing the 50-day simple moving average (SMA) and the 14-day exponential moving average (EMA).
A strong move above the upper boundary may push the XRP triangle towards a resistance of $3.39. The transfer-based currency may test its highest historical resistance if it maintains a strong close above $3.39.
The Relative Strength Index (RSI) is about to cross the neutral level and the moving average line, indicating a potential shift towards an upward trend.
A sustained close below $2.78 would invalidate the bullish hypothesis and could send XRP to the support level at $2.60, which is reinforced by the simple moving averages of 100 days.
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