XRP (XRP) bullish social sentiment on social media has reached its second-highest level in the past two years, according to Santiment.
According to the analytics firm, Rakuten’s recent announcement was a key driver behind the surge.
XRP Crowd Turns Most Bullish
BeInCrypto reported that Rakuten Wallet listed XRP on April 15, giving 44 million users in Japan direct access. The move unlocks a $23 billion loyalty pool of more than 3 trillion Rakuten Points convertible into the token.
“In part due to the new integration of XRP with Rakuten, allowing points to being converted into XRP, the asset is seeing its 2nd highest bullish sentiment across social media in the past 2 years!” Santiment said.
The firm noted that traders are reacting with enthusiasm as the fourth-largest crypto by market cap secures another adoption win. However, it said that,
“As far as price goes, these events don’t often instantly lead to major price outbreaks. It is usually after the initial wave of euphoria, after FOMO calms down, that the impact of this kind of news sees the bullish outcome.”
The April 29 sentiment spike pushed XRP’s positive-to-negative comment ratio to 3.9, deep into what the firm labels its FOMO Zone. Readings of this scale often mark local tops rather than breakouts.
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The chart pattern reinforces the point. A similar FOMO spike on March 19 was followed by a pullback in XRP price, while sharp FUD readings on February 5 and March 29 preceded relief rallies.
“XRP investors and traders have waited a long time for a turnaround in price action after watching its market value decline approximately -55% over the past 9 months. With patience after the euphoria calms, these types of key integrations with major companies are exactly what drives prices over the long term,” the firm argues.
XRP’s price action adds context to the case. The token is on track to close April in green, snapping a six-month losing streak. That stretch tied its longest monthly red run since early 2014, per CryptoRank data.
Nonetheless, May seasonality sends mixed signals. The historical average return sits near +25%, potentially skewed by 2017’s +378% outlier. The median May return is actually -2.6%.
Furthermore, seven of the past twelve May have closed in the red. Thus, the probability historically favors downside or muted performance rather than gains.
In addition, the broader market remains a key factor that could dictate XRP’s price performance in the weeks ahead. While easing geopolitical tensions have acted as a tailwind, and overall market sentiment has improved, uncertainty still lingers around macro conditions.
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The post XRP Sees 2nd-Highest Bullish Sentiment in 2 Years: What It Means for the Price appeared first on BeInCrypto.
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