XRP has remained in the spotlight since the news of its integration with the Japanese payment platform, Rakuten Wallet, sparking renewed optimism across the crypto community.
The development, which now allows users in Japan to convert loyalty points into XRP, has sparked hype for the leading cryptocurrency.
As such, the crypto community has become increasingly bullish on the fourth-largest cryptocurrency by market capitalization. On Thursday, April 30, Santiment data revealed that social sentiment around XRP has surged to one of its highest levels in the past two years.
Rakuten sparks XRP buzz
While Rakuten is a renowned payment platform in Japan boasting millions of users, its move to bring XRP into its ecosystem will further boost the asset's everyday use.
This has garnered hype around XRP as the move positions it for wider adoption and increased usage, potentially driving its value upwards and strengthening the XRPL network.
While the move is expected to fuel a sharp surge in XRP participation, traders are optimistic that the aftermath of such a move could be a major price breakout for XRP.
XRP price stay negative
Although the XRP social sentiment has seen a sudden spike, hitting its 2-year high, the rapid increase in its social metric has yet to reflect on its price movements.
While XRP is yet to respond to the buzz with any major price move, CoinMarketCap data shows that the asset has slumped by about 2.29% over the last 24 hours, trading at $1.37 as of writing time.
While the divergence in the XRP social metric and trading price may seem surprising at first, it is important to note that such social enthusiasm usually fuel immediate FOMO and the real impact usually comes later, after things settle down a bit.
Dan Burgin
U.Today Editorial Team
