Blockchain analytics firm Santiment has identified an extreme shift in market sentiment around XRP, with fear, uncertainty, and doubt (FUD) reaching its third-highest level in the past two years. In a post on social media platform X on April 13, the firm highlighted that such extreme bearishness historically precedes short-term price recoveries, presenting a potential buy signal for the altcoin.
Sentiment Ratio Nears Historic Reversal Zone
Santiment's data shows the ratio of bullish to bearish comments on XRP currently stands at approximately 1.02 — meaning there are roughly 1.02 bullish comments for every 1.00 bearish comment. This reading is strikingly similar to two prior instances: a ratio of 0.96 in February 2025, which was followed by a short-term price recovery, and 1.01 in October 2025, which did not produce a clear sustained rally. The analytics firm stated: “Historically, when bullish comments are replaced by an equal number of bearish comments, the probability of a relief rally increases significantly.”
The sentiment map also defines two key zones: a “FOMO zone” where aggressive buying occurs during strong optimism, and a “FUD zone” where pessimism dominates. Current values are near the lower boundary of the FUD zone, reflecting growing retail capitulation.
Retail Capitulation Deepens, Institutions Accumulate
XRP has lost approximately 63% of its value over the past nine months, driving retail investors to sell off their holdings in frustration. Santiment noted: “With retail investors finally turning their backs on XRP after a -63% price drop over 9 months, this type of signal can help you take advantage of their pessimism if you are willing to wait a bit longer. Prices move in the opposite direction of the crowd’s expectations.”
However, institutional positioning tells a different story. On April 10, spot XRP exchange-traded funds (ETFs) recorded net inflows of $9.09 million, the highest single-day inflow since February. Meanwhile, data reveals that wallets holding at least 1 million XRP — so-called “millionaire wallets” — have been increasing, suggesting that large holders are accumulating during the retail sell-off. This divergence between retail fear and institutional accumulation reinforces the case for a potential bottom.
Santiment cautions that while the sentiment signal is compelling, confirmation from broader market conditions remains essential before making trading decisions.
In a related development, Evernorth has filed an amended document with the U.S. Securities and Exchange Commission detailing its XRP-based financing structure and how token contributions translate into equity stakes in the SPAC merger. This move further solidifies XRP’s role in the evolving crypto market infrastructure, particularly within compliant financial frameworks.