XRP's Sentiment Hits Two-Year High But Why is Price Stuck?

XRP's recent surge in social media sentiment is a significant development for the cryptocurrency market. According to Santiment's Positive/Negative sentiment indicator, XRP has seen a 240% increase in positive mentions over the last 30 days, reaching levels not seen since early 2024.

The integration of Rakuten Pay with XRP has been instrumental in driving this optimism. With over 44 million users, Rakuten's platform allows for seamless conversion of loyalty points into XRP, trade it in-app, and spend it at millions of merchant locations via the Rakuten Pay app. This marks one of the largest retail deployments of XRP as a payment method to date.

However, despite this positive sentiment, XRP's price remains stuck due to overhead resistance at $1.40. According to cost-basis distribution data, investors hold approximately 2 billion XRP at an average cost of $1.40-$1.45, creating a potential resistance zone. A break above this supply area could open the way for a rally toward the measured target of the triangle at $2.10.