XRP Shows Second Highest Bullish Sentiment in 2 Years: What It Means for Price
Bullish social sentiment for XRP
XRPUSD
on social media has now reached the second highest level in the past two years, according to Santiment.
According to the analytics firm, the latest announcement from Rakuten is one of the main drivers of this surge.
XRP Community Becomes Very Bullish
BeInCrypto reports that Rakuten Wallet listed XRP on April 15, allowing 44 million users in Japan to access it directly. This move opens up a loyalty pool potential of US$23 billion from over 3 trillion Rakuten Points that can be converted into the token.
“Partly due to the new integration of XRP with Rakuten, which allows points to be converted into XRP, this asset is experiencing the second highest bullish sentiment on social media in the past two years!” said Santiment.
The company states that traders reacted enthusiastically when the fourth-largest cryptocurrency by market cap regained adoption momentum. However, they also note that,
“When it comes to price, events like this usually don’t cause immediate large price surges. Usually, after the initial wave of euphoria, when FOMO starts to subside, news like this begins to show bullish results.”
The sentiment peak on April 29 caused the positive comment ratio to negative comments for XRP to reach 3.9, very high in what the company calls the FOMO Zone. This level often signals a local peak, not a breakout.
Chart patterns reinforce this argument. A similar FOMO spike on March 19 was followed by a price correction for XRP, while sharp FUD on February 5 and March 29 actually triggered recovery rallies.
“XRP investors and traders have been waiting quite a while for a price reversal after seeing its market value drop around -55% over the past nine months. With patience after the euphoria subsides, key integrations with major companies like this are indeed factors that support long-term price growth,” the company explained.
XRP’s price movements clarify the situation. The token is predicted to close April on a positive note, ending a six-month downtrend. This period matches its longest streak of red months since early 2014, according to CryptoRank data.
However, seasonal patterns in May give mixed signals. The average historical return is around +25%, which may be skewed by the +378% surge in May 2017. Meanwhile, the median return for May is -2.6%.
Additionally, over the past twelve years, seven Mays have ended in the red. This means that, historically, the probability leans more toward corrections or stagnant performance than price increases.
On the other hand, overall market conditions remain a key factor that could determine XRP’s price performance in the coming weeks. Although geopolitical tensions are easing and market sentiment is improving, macroeconomic uncertainties still persist.
