Crypto traders are growing increasingly bearish on Ethereum and XRP as the market heads into the fourth quarter following a volatile September 2026.
According to data from Santiment, social media discussions across platforms like X, Reddit, and Telegram show rising pessimism for both altcoins. Ethereum currently registers 0.89 bullish comments for every bearish comment, marking its lowest sentiment ratio since June 7. XRP's sentiment has dropped further to 0.67 bullish comments per bearish comment, its lowest level since August 17. Readings below 1.0 indicate that bearish commentary outweighs bullish views.
Santiment noted that heavy pessimism does not guarantee an immediate bounce, but high fear can sometimes present opportunities for contrarian traders as much of the selling pressure may have already occurred.
Meanwhile, on-chain metrics show notable activity for both assets. Over the past week, Ethereum whales accumulated 60,000 units valued at approximately $162 million. Additionally, Arthur Hayes expressed confidence in Ethereum reaching $10,000 by the end of the year from its price near $2,700, citing the network's scale and security as factors that reduce long-term exploit risks.
XRP has experienced significant outflows from exchanges, with daily transactions involving 1 million tokens or more spiking above 320 million tokens. Binance has led these withdrawals alongside Coinbase, Upbit, Bybit, and Bitget. Traders are closely monitoring the trend, as a similar outflow spike in August was followed by a 42% increase in the asset's price, potentially reducing immediate selling pressure by lowering the supply of tokens held on exchanges.
