XRP tokens, linked to Ripple, have seen a resurgence in positive discussions on social media, a trend that has often been followed by a contrarian price signal. On April 29, the positive-to-negative sentiment ratio on social media spiked into the 'FOMO zone', reaching 3.9 on Santiment's tracker, the highest since March 19.
This level of sentiment is considered a contrarian signal by Santiment, as it indicates overwhelmingly positive crowd commentary. Historically, when sentiment reaches these levels, the token tends to consolidate or correct in the following days as demand from buyers driving the social wave dwindles. The recent integration of XRP with Rakuten, allowing users to convert points into XRP, has contributed to the asset's second-highest bullish sentiment on social media in the past two years.
The Rakuten Pay integration, which went live in early April, added XRP as a payment method across the Japanese wallet application's ecosystem, enabling an estimated 44 million Rakuten users to spend XRP at over 5 million merchant locations. Despite the social media buzz, XRP traded at $1.37 on Thursday, down 2.1% over 24 hours and 3.7% on the week.
According to Santiment, crowd sentiment has led price movements by 24 to 72 hours in either direction, with crowd extremes often marking reversals rather than continuations.