XRP tokens linked to Ripple have seen a resurgence in positive discussions on social media, a trend that has historically preceded a reversal in 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 decline.
This spike is largely attributed to the integration of XRP with Rakuten Pay, allowing users to convert their points into XRP, which has sparked significant excitement among traders. The partnership, which went live in early April, enables an estimated 44 million Rakuten users to spend XRP at over 5 million merchant locations and convert their Rakuten points, valued at approximately $23 billion, directly into XRP. Despite the fervor on social media, XRP's price has remained relatively stable, trading at $1.37 on Thursday, down 2.1% over 24 hours and 3.7% over the week.
Santiment data suggests that crowd sentiment often leads price movements by 24 to 72 hours and that extremes in sentiment have frequently marked reversals rather than continuations.