XRP Sentiment Sinks to Two-Month Low Amid Fading Optimism

Bearish sentiment around Ripple's XRP token has intensified in early October, with its bullish-to-bearish social media comment ratio dropping to 0.67, its lowest reading since mid-August.

This decline comes despite a September price rally that briefly lifted trader enthusiasm, and it has been accompanied by a similar downturn in Ethereum's sentiment, which has fallen to 0.89, the worst reading since June 7.

Santiment, a blockchain analytics firm, tracks posts and comments across various crypto-focused forums to gauge shifts in crowd psychology. According to Santiment, when the ratio falls below 1.0, it indicates bearish remarks outnumber bullish ones.

The current XRP sentiment reading of 0.67 translates to approximately 67 bullish comments for every 100 bearish remarks. This development underscores a disconnect between price performance and social expectations, as the broader market context has actually improved with Bitcoin approaching $86,600 on Friday and the global Crypto Fear & Greed Index climbing to 72.