$ETH and XRP Sentiment Plummets to Multi-Month Lows Amid Weak Price Movement
The social sentiment for Ethereum ($ETH) and XRP has drastically shifted to bearish territory at the start of October, according to data from Santiment Intelligence.
Both assets have seen a significant drop in their bullish comments per bearish comment ratio. $ETH's ratio has fallen to 0.89, its lowest since June 7, while XRP sits at just 0.67, its lowest since August 17.
The downturn is attributed to the disconnect between positive fundamentals and weak price movement. For XRP, the community's disappointment with recent high-profile institutional adoption successes not translating into a price increase has contributed to the bearish sentiment.
Santiment Intelligence notes that extreme crowd fear can be a contrarian signal, potentially creating an 'Opportunity Zone' for an eventual rebound once selling pressure is exhausted.