Ethereum, XRP Sentiment Hits Multi-Month Lows Amid Broader Market Greed
The social sentiment for Ethereum (ETH-USD) and XRP (XRP-USD) took a downturn as October started, according to data from Santiment. The number of bearish posts on platforms like X, Telegram, and Reddit now exceeds the number of bullish ones for both altcoins.
The Crypto Fear and Greed Index stands at 72, indicating market-wide greed despite the decline in social media chatter around these two tokens. Santiment tracks the ratio of positive to negative comments across major social platforms, with ETH's sentiment ratio dropping to 0.89 on October 1 - its lowest reading since June 7.
XRP's ratio fell even further to 0.67, marking its weakest level since August 17. However, Santiment notes that heavy pessimism can often create a contrarian setup where panic selling ends early.