XRP is experiencing a surge in positive social media discussions, a phenomenon that has often been a contrarian indicator for the token's price. The sentiment ratio, which measures positive to negative comments, spiked into what Santiment refers to as the "FOMO zone" on April 29, reaching 3.9, the highest level since March 19.
This spike in sentiment is largely attributed to the recent integration of XRP with Rakuten Pay, allowing users to convert their points into XRP. Historically, such extreme levels of optimism have been followed by a correction or consolidation in the token's price, as the buying momentum driven by social media enthusiasm begins to wane. The Rakuten Pay integration, which enables an estimated 44 million users to spend XRP at over 5 million merchant locations, has sparked significant interest, with traders expressing excitement over the potential implications for the token.
Despite the positive sentiment, XRP's price has remained relatively stable, trading at $1.37 on Thursday, down 2.1% over 24 hours and 3.7% on the week. Santiment's data suggests that crowd sentiment has consistently led price movements by 24 to 72 hours, with extreme sentiment levels often marking reversals rather than continuations.