XRP Social Sentiment Hits 5-Week High—BTC, ETH Mood Still Off

Data shows the social media sentiment toward XRP has surged to a 5-week high even as mood around Bitcoin and Ethereum remains dull.

The metric works by filtering social media posts/threads/messages for terms related to the cryptocurrency and putting them through a machine-learning model that separates between positive and negative sentiments. It then counts up the number of posts in each category and determines the ratio between them.

When the value of the Positive/Negative Sentiment is greater than 1, it means bullish comments outnumber the bearish ones. On the other hand, the indicator being under this level could indicate the dominance of a negative sentiment among social media users.

Now, here is the chart shared by Santiment that shows the trend in the Positive/Negative Sentiment for three top cryptocurrencies: Bitcoin, XRP, and Ethereum.

As displayed in the above graph, Bitcoin and Ethereum have both seen the Positive/Negative Sentiment decline to near-neutral levels recently. Bullish and bearish comments are almost exactly canceling out for the former with the metric sitting at 1.05, while the latter is seeing a slight dominance of positive sentiment with a value of 1.4.

The analytics firm noted:

Crypto markets have struggled to maintain momentum, and social data indicates there are far less bullish comments toward Bitcoin and Ethereum compared to last week.

XRP has also struggled like the rest of the market recently, so what’s behind the divergence? According to Santiment, it’s likely to lie in the recent partnership expansion announcements.

The wave of bullish comments over the last couple of days has pushed the Positive/Negative Sentiment to 2.35, the highest level in five weeks. If past pattern is to go by, though, this excitement around the asset may not necessarily translate to the cryptocurrency’s price.

At the time of writing, XRP is floating around $1.39, up around 5% in the last seven days.