XRP's Bull-Bear Ratio Hits 0.67 — Bears Finally Out-Number the Hype 🐻

Blockchain analytics firm Santiment reported on October 1 that XRP's bullish-to-bearish comment ratio fell to 0.67 across X, Reddit, and Telegram, its lowest reading since August 17. A ratio below 1.0 means bearish commentary now outnumbers bullish posts, and the current 0.67 figure places XRP deeper into pessimist territory than Ethereum, whose own ratio slipped to 0.89, its weakest since June 7. Santiment framed the extreme pessimism as a potential contrarian entry point for traders monitoring crowd sentiment.

The mood shift coincided with a stall in price action. XRP had rallied to roughly $1.60 in late September before pulling back, closing October 1 near $1.49 and trading in a narrow $1.47–$1.53 band as the new month opened. The price slip arrived alongside a wave of social pessimism and was compounded by Ripple's scheduled 1 billion XRP unlock, which added short-term supply overhang to an already cautious market.

Fundamentals, however, remained constructive. Santiment pointed to a 94% approval rating for Evernorth, continued growth in Ripple's RLUSD stablecoin near $2.5 billion in circulation, and the x402 payment protocol surpassing 10 million transactions as evidence that on-chain and ecosystem metrics had not deteriorated alongside social sentiment. The divergence between crowd tone and underlying activity was central to the firm's contrarian framing.

Santiment's data captures commentary ratios rather than direct price forecasts, and the firm has historically cautioned that extreme bearish readings can signal local bottoms when fundamentals remain intact. The current 0.67 print now stands as the weakest bullish-to-bearish reading for XRP since mid-August, when the token traded near prior consolidation levels. With social pessimism at a two-month extreme and on-chain usage continuing to expand, the gap between narrative and network activity remains the focal point for market participants watching $XRP into the fourth quarter.