Ethereum and XRP sentiment has suddenly turned very negative

Social sentiment for Ethereum ($ETH) and $XRP has plummeted heavily to kick off October 2026, dropping to some of their lowest marks in months.

Data from Santiment Intelligence reveals that Ethereum’s bullish comments per bearish comment ratio has fallen to 0.89. Meanwhile, $XRP’s ratio dropped to 0.67, reflecting heightened social media pessimism, which Santiment says can create a useful contrarian setup.

Ethereum and $XRP Social Sentiment Turns Bearish to Kick Off October

Ethereum and $XRP sentiment has suddenly turned very negative to kick off October, marking some of the lowest optimism levels seen in months. According to data from on-chain analytics firm Santiment Intelligence, $ETH is down to 0.89 bullish comments per bearish comment across X, Telegram, Reddit, and other social platforms, its lowest ratio since June 7, while $XRP sits at just 0.67, its lowest since August 17.

Meanwhile, Santiment’s sentiment metrics are designed to gauge such shifts in the emotions of the crowd, particularly when the conversation becomes more one-sided, which is the case with these two leading altcoins. If a ratio is below 1.0, that means that negative comments outnumber positive ones on X, Reddit, Telegram, and other crypto communities.

Why $ETH and $XRP Social Sentiment Fell to 0.89 and 0.67

The mood change is due to a disconnect between the positive fundamentals and the weak price movement. For $XRP, the community has been disappointed that the recent high-profile institutional adoption successes, combined with regular inflows into spot ETFs, have not moved the token out of the sideways trading range.

$XRP has dropped back under the $1.50 mark, feeling the macro pressure of rising U.S. Treasury yields alongside a historically weak month for the asset, closing down in 8 of the last 13 Octobers.

Meanwhile, $ETH is facing its own stagnation, with sellers keeping the price tightly range-bound between $2,600 and $2,700, failing to cleanly breach overhead technical resistance. Other drivers include macro headwinds, with a 64% priced-in probability of an upcoming Fed rate hike, and regulatory backlash after the CLARITY Act failed in mid-September.

Could Extreme $ETH and $XRP Pessimism Create a Contrarian Dip-Buy Setup?

Although heavy pessimism is sapping near-term risk appetite, Santiment Intelligence observes that extreme crowd fear can be a potent contrarian signal. Quieter social volumes and dominant fear have historically appeared around market bottoms, clearing out leveraged speculative longs and creating an “Opportunity Zone” for an eventual rebound once selling pressure is exhausted.

Despite the bearish sentiment, some market signals could support a contrarian setup. If there is an increase in retail selling pressure, $ETH may be supported by ongoing institutional ETF accumulation. For $XRP, the fear of escrow releases could already be priced in, so positive news on regulation could be met with an even more pronounced response.

However, trading on extreme fear is a double-edged sword. Before taking the contrarian position, investors need to consider the underlying market mechanics, key structural levels, and execution risks.