XRP Sentiment Turns Bearish as Bullish-to-Bearish Ratio Hits 0.67

The sentiment surrounding $XRP has turned bearish, with the token experiencing its most negative balance of social discussion since August 17. According to Santiment, the crypto analytics firm, the $XRP ratio stood at 0.67 bullish comments for every bearish comment, indicating a majority of negative commentary. This is a weaker reading than the 0.89 ratio for ether, Ethereum's native cryptocurrency, which also turned negative but showed a smaller imbalance between optimistic and pessimistic discussion.

The bearish mood surrounding $XRP has drawn a contrarian interpretation, suggesting that much of the panic selling may have already occurred when traders became convinced prices would fall. Santiment's analysis favors subdued optimism and heightened fear over widespread excitement about buying a dip. The firm cautioned that neither asset is guaranteed to bounce immediately, and that the current mood is different from periods when widespread expectations favored continued gains.

The pessimism surrounding $XRP follows a September rebound that left a group of $XRP holders facing substantial average paper losses. Santiment's September 23 comparison put $XRP's average unrealized return at minus 11.75% for coins active within the past year, representing gains or losses before a sale.