Investor sentiment toward XRP has fallen to its lowest level in the past month.

U.Today, a blockchain outlet, reported on Oct. 1 that on-chain and social data analytics firm Santiment estimated the ratio of positive to negative comments on XRP dropped to 0.67.

Pessimism around XRP dominated not only on X, formerly Twitter, but also across crypto communities such as Telegram and Reddit. XRP sentiment has shown high volatility in recent months, similar to its price moves. Optimism briefly returned during a rebound in September, but by early October it slid back to the lower end of its recent range.

Disappointment over price stagnation underlies the spread of pessimism. Some investors have grown more dissatisfied because the token price has not shown a clear response despite recent major gains by XRP Ledger (XRPL) in institutional adoption. Investors believe these key advances are not being properly reflected among market participants.

A similar trend was seen in Ethereum. Ethereum's bullish-to-bearish comment ratio fell to 0.89. Santiment viewed it as the weakest level since early June. It also noted the situation was not as bad as XRP's.

Santiment saw room to interpret this extreme bearish sentiment as a contrarian signal. The logic is that as more traders on social media (SNS) predict further declines, many who would sell may have already completed a significant share of their selling. In that case, there is also room for the market to move against expectations. Still, sentiment indicators can change quickly, and the possibility remains that prices may continue to fall as pessimism spreads rapidly.

That has also focused attention in the XRP market on whether investor sentiment will recover along with a price rebound. With negative reactions persisting across the community despite the recent rebound, whether pessimism spreads further or whether excessive bearish sentiment becomes a catalyst for a rebound is cited as a variable that will determine the next direction.

In particular, the fact that the price response was limited despite XRP Ledger's institutional adoption gains suggests positive factors have not sufficiently led to improved investor sentiment. But it is hard to conclude that selling pressure has been exhausted based only on an increase in negative comments. Pessimism seen online and actual trading flows may differ, meaning there are limits to judging a trend reversal based only on sentiment indicators.

Ethereum and XRP sentiment has suddenly turned very negative to kick off October. $ETH is down to 0.89 bullish comments per bearish comment across X, Telegram, Reddit, and other social platforms. This is its lowest ratio since June 7. $XRP sits at just 0.67, its lowest since… pic.twitter.com/ajxBKBVewE