Santiment reports that social sentiment for Ethereum and XRP has reached multi-month lows as of early October. The ratio of bullish to bearish commentary for Ethereum dropped to 0.89, marking its lowest point since June 7. XRP saw a sharper decline, with its ratio falling to 0.67, the weakest level recorded since August 17.
Despite the negative social sentiment, broader market indicators remain in the greed territory, with the Crypto Fear & Greed Index at 72. On-chain data for Ethereum shows a 193% weekly increase in mean base fees and a rise in the staking rate from 35.53% to 35.92% over a 14-day period. However, the Coinbase Premium Index for Ethereum has remained negative for 14 consecutive sessions.
Institutional activity shows mixed results for Ethereum and XRP. Ethereum spot ETFs recorded net outflows totaling $117.8 million over three days ending October 1, following a period of inflows amounting to $850.7 million. Conversely, XRP spot ETFs added $4.07 million on October 1 and have not recorded net outflows since September 18.
Historical data from CryptoRank indicates that XRP has closed lower in October in 8 out of the last 13 years. Market participants are now looking toward upcoming events in late October, including the Ripple Swell conference and the Federal Reserve meeting scheduled for October 27–28, as potential catalysts for future price movements.
