Overseas cryptocurrency media outlet Coingape reported that there is a growing sentiment that whales and institutions are buying the dip for XRP. On-chain analysis firm Santiment presented data indicating a possibility of an XRP rebound and a buy signal. According to Coingape, Santiment stated that on May 26 (local time), the ratio of positive to negative comments regarding XRP on social networking services dropped to 1.1 to 1. Coingape explained that this means investor fear psychology reached its highest level in the past three weeks. Santiment analyzed, "When investors are overly fearful across social networking services, there is a high possibility that many weak hands have already sold." Coingape reported that amidst this fear and doubt, if XRP whales and institutions engage in buying the dip, selling pressure could decrease and conditions for a price rebound could be created. Coingape noted that in the past, there were many instances where XRP entered the so-called 'fear zone' and subsequently experienced short-term price stabilization or a rebound. Coingape reported that Santiment viewed the fact that fear on social networking services reached a three-week high as a good buy signal. However, Santiment also noted, "In periods when extreme excitement and anticipation appear, an opposite effect can occur." According to Coingape, if the XRP positive-to-negative comment ratio rises to the 'FOMO zone,' it means that many investors have already taken positions on the long side, in which case whale movements could decrease and the price could drop. Meanwhile, Coingape reported that interest grew within the XRP community that day due to a circulating rumor that Ripple could acquire stablecoin issuer Circle for $11 billion. However, Coingape added that executives from both companies have not yet confirmed the rumor. Coingape stated that the rumor spread after the XRP Ledger Foundation posted on X, "Tomorrow is going to be a great day." Coingape explained that while this speculation connects to a previously raised acquisition proposal rumor worth $4 to $5 billion, the post is highly likely related to a major XRP Ledger upgrade. According to Coingape, last year Ripple CEO Brad Garlinghouse denied a Bloomberg report that Ripple was pursuing the acquisition of Circle. At the time, the $4 to $5 billion acquisition proposal rumor was also dismissed, and Circle also stated that it was not for sale and was focusing on an initial public offering. Coingape reported that the price of XRP rose 1% from its 24-hour low of $1.33 to trade at $1.34 at the time of writing. Trading volume increased by 5% over the last 24 hours. Coingape reported that while various on-chain data pointed to a bullish sentiment, the wallet of Ripple co-founder Chris Larsen also moved again ahead of the US midterm elections. On a daily basis, the price of XRP was trading below its 50-day, 100-day, and 200-day moving averages at the time of writing, Coingape reported. The relative strength index (RSI) is hovering around 41. Coingape also relayed a forecast that if it breaks above the trendline sustained over several months, it could climb back towards $1.50. Coingape cited CoinGlass data to report that a buying sentiment also emerged in the derivatives market. At the time of writing, XRP futures open interest increased by more than 1% on a 24-hour basis to reach $2.86 billion. Coingape reported that the 4-hour XRP futures open interest on CME and Binance also increased by more than 0.32% and 1.13%, respectively, demonstrating the bullish psychology of derivatives investors. [This article is by no means an investment solicitation. The relevant content may merely be an opinion, so please do not use it as an investment reference or reflect it as data. All investments are made by individual choice and judgment, and the final responsibility lies with the investor. This publication assumes absolutely no responsibility.]