XRP has seen a resurgence in positive social media chatter, which has historically served as a contrarian indicator for its price. The token's sentiment ratio on social media spiked to 3.9 on April 29, the highest since March 19, when a similar surge was followed by a sharp price correction.
This spike in sentiment was largely driven by the recent integration of XRP with Rakuten Pay, allowing users to convert their points into XRP and use it for payments across the platform. The partnership has generated significant excitement among traders, with XRP experiencing its second-highest bullish sentiment on social media in the past two years. Despite the surge in sentiment, XRP's price has remained relatively stable, trading at $1.37 on Thursday with a 2.1% decline over 24 hours and a 3.7% drop over the week. According to Santiment, crowd sentiment has consistently led price movements by 24 to 72 hours, with extreme sentiment levels often marking reversals rather than continuations.
The recent price action suggests that XRP may be due for a correction or consolidation in the coming days.