Ethereum and XRP Sentiment Turns Bearish as October Begins, Santiment Data Shows

Ethereum (ETH) and XRP sentiment turns bearish as Santiment data shows rising negative investor sentiment in October 2026.

Sentiment surrounding Ethereum (ETH) and XRP has turned sharply negative at the start of October, with bearish commentary outweighing bullish discussion across major social platforms, according to data from crypto analytics firm Santiment.

BSCN highlighted the shift in an X post citing Santiment data, which showed that investor sentiment toward both crypto assets had deteriorated as the new month began. Santiment’s own Oct. 1 market insight described the move as a potential “opportunity zone” for the two altcoins.

Ethereum and XRP Sentiment Falls Below Neutral

Santiment tracks the ratio of bullish to bearish commentary across platforms including X, Telegram and Reddit. A reading below 1 indicates that bearish comments outnumber bullish ones.

For Ethereum, the ratio fell to 0.89, its lowest level since June 7. XRP recorded an even lower reading of 0.67, marking its weakest sentiment level since Aug. 17. The figures indicate that negative discussion had become more prevalent than positive commentary around both assets as October opened.

The deterioration was concentrated in ETH and XRP rather than representing a uniform shift across major cryptocurrencies. Bitcoin's corresponding sentiment reading stood at 1.37 in Santiment's data, indicating that bullish commentary remained ahead of bearish discussion for BTC.

Santiment Cautions Against Reading Bearish Sentiment as a Direct Sell Signal

Despite the negative readings, Santiment noted that extreme pessimism does not necessarily represent a bearish signal for prices.

“When traders become convinced prices are heading lower, much of the panic selling may already have happened,” Santiment said, according to the post highlighted by BSCN.

Santiment's broader assessment similarly pointed to the possibility of a contrarian setup when sentiment becomes heavily negative, while cautioning that depressed sentiment does not guarantee an immediate rebound.

The distinction is important because sentiment data measures how market participants are discussing an asset rather than directly measuring future price movements. A sustained period of negative commentary can therefore coexist with different outcomes in the underlying market.

2026 Highs Remain an Open Question

The bearish shift comes as traders enter October, a month sometimes referred to as “Uptober” within crypto markets. Recent market data showed ETH trading around $2,715.50 and XRP around $1.51 when the sentiment readings were reported, with both prices little changed on the day.

BSCN ultimately raised the question of whether Ethereum and XRP could reach new all-time highs in 2026. The Santiment data, however, does not establish such an outcome. For now, the clearest development is the sharp deterioration in social sentiment for both assets at the beginning of October.

Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.