Social sentiment for Ethereum ($ETH) and XRP ($XRP) has turned sharply negative at the start of October, according to data from on-chain analytics firm @SantimentData. Bearish comments are no
Social sentiment for Ethereum ($ETH) and XRP ($XRP) has turned sharply negative at the start of October, according to data from on-chain analytics firm @SantimentData. Bearish comments are now outpacing bullish ones for both tokens across major platforms including X, Reddit, and Telegram, marking some of the lowest optimism readings in months.
Santiment tracks the ratio of positive to negative commentary across social platforms. A reading below 1.0 signals that bearish posts are in the majority. According to its latest data, $ETH's bullish-to-bearish ratio has fallen to 0.89, its lowest level since June 7. $XRP is weaker still, sitting at just 0.67, a level not seen since August 17. That translates to roughly 67 bullish comments for every 100 bearish ones for @Ripple's token.
The sour mood arrives at the start of a month traders often call "Uptober," a nod to October's historically positive seasonal performance for crypto. Adding to the pressure on $ETH, Ethereum spot ETFs recorded three consecutive days of net outflows totalling around $117.8 million through October 1. $XRP funds have remained relatively more stable, though the token is not immune to the broader negative sentiment sweep.
Notably, Bitcoin ($BTC) sentiment stands in contrast, with its ratio sitting at 1.37, meaning the pessimism is concentrated squarely on the two altcoins rather than the broader market.
@SantimentData is not sounding the alarm just yet. The firm has long argued that extreme crowd pessimism can set up a contrarian opportunity, noting that when traders become convinced prices are heading lower, much of the panic selling may already have happened. The underlying logic, widely observed in behavioral finance, is that the crowd tends to be most wrong at market turning points.
That said, @SantimentData cautioned that bearish sentiment alone does not guarantee a price recovery. Investors would still need to weigh market structure, technical support levels, and broader macro conditions before acting on any contrarian view. Upcoming catalysts for $XRP include Ripple's Swell conference and a Federal Reserve meeting later in October, either of which could shift the mood quickly.
Whether $ETH and $XRP can reclaim bullish momentum and challenge new all-time highs before year-end remains an open question. For now, the crowd is firmly in the bearish camp.
Sources:BeInCrypto: Welcome to Uptober: ETH and XRP Sentiment Just Hit Multi-Month LowsBitcoin.com News: XRP Sentiment Turns Bearish as Bullish-to-Bearish Ratio Hits 0.67Coin Edition: Ethereum and XRP Sentiment Has Suddenly Turned Very Negative
