Social media sentiment for Ethereum (ETH) and XRP has plunged to multi-month lows at the start of October, even as prices remain stable at $2,715.50 and $1.51 respectively.
Social Sentiment Drops While Fear & Greed Index Stays High
Data from market intelligence platform Santiment shows that the positive-to-negative sentiment ratio across platforms like X, Telegram, and Reddit dropped to 0.89 for ETH—its lowest level since June 7. The sentiment ratio for XRP fell further to 0.67, its weakest reading since August 17. In contrast, Bitcoin (BTC) social sentiment registered at 1.37, demonstrating that recent bearish chatter is concentrated primarily in altcoins.
Despite the negative crowd mood, the broader Crypto Fear & Greed Index by Alternative.me stands at 72 in "Greed" territory, up from 63 last month. Addressing the divergence, Santiment noted: "Heavy pessimism can create a useful contrarian setup. When traders become convinced prices are heading lower, much of the panic selling may already have happened," though the firm noted low sentiment does not guarantee an immediate price reversal.
On-Chain Activity Surges as Institutional Flows Diverge
On-chain data provided by analyst CryptoOnchain reveals growing activity on the Ethereum network, with mean base fees surging 193% week-over-week and the staking rate rising from 35.53% to 35.92% over 14 days. However, the Coinbase Premium Index printed negative across all of the last 14 sessions, pointing to subdued US institutional buying.
Spot Ethereum ETFs tracked by SoSoValue logged three consecutive days of net outflows through October 1 totaling roughly $117.8 million, snapping a seven-day inflow streak worth $850.7 million. Conversely, spot XRP ETFs added $4.07 million on October 1 and have avoided outflows since September 18.
This trend follows news that XRP achieved a historic bullish milestone by finishing July, August, and September in the green, gaining over 43% in Q3. Historical data from CryptoRank shows XRP closed October lower in 8 of 13 years, including 2024 and 2025. Upcoming events for XRP include Ripple's Swell conference and the Federal Reserve's meeting on October 27 to 28.
Why It Matters
The drop in retail sentiment creates a classic contrarian backdrop for ETH and XRP as October begins. While US spot Ethereum ETF outflows and a negative Coinbase Premium Index highlight short-term institutional hesitation, rising base fees and staking rates signal firm underlying network utilization. Whether social pessimism marks a market bottom will depend on macroeconomic triggers late in the month and a potential rebound in institutional ETF demand.
- ETH social sentiment hit a multi-month low of 0.89, while XRP dropped to 0.67.
- Ethereum base fees jumped 193% week-over-week, but US spot ETFs saw $117.8 million in three-day outflows.
- Spot XRP ETFs gained $4.07 million on October 1, having recorded zero net outflows since September 18.
