According to recent data provided by analytics platform Santiment, the XRP token has managed to overcome fear, uncertainty and doubt (FUD) within the retail industry.
After the token’s price dropped significantly recently, retail investors sold at a loss, expecting the price to continue to fall.
However, XRP price has bucked retail sentiment and recently crossed the $2.5 milestone for the first time in more than a week.
Just before the recent price spike, the ratio of positive to negative comments was at its lowest level in about nine months.
evernorth catalyst
XRP’s recent price recovery came after Ripple-backed medical services company Evernorth announced that it would raise a total of $1 billion through a public offering, with Japanese financial giant SBI Holdings as one of the main backers.
This funding will primarily be used to create the XRP Treasury by purchasing Ripple-linked tokens on the open market.
Tokens will also be used in various revenue generation strategies to scale your revenue.
However, a fed-up market is already slamming the XRP treasury company, so despite the sheer bullishness of the announcement, price action has been fairly muted.
Although XRP has performed slightly better than the broader market, the token is still down 0.5%.
