While traders grumble, on-chain data shows crowd mood tipping toward worry, and Santiment points out that when retail panic grows, markets have a habit of moving in the opposite direction.
Based on reports from the blockchain analytics firm, the bullish-to-bearish ratio reached 3.21 on Sept. 17 during a wave of euphoria, then fell to 0.74 on Oct. 4 as frustration rose.
The ratio moved slightly to 0.86 on Oct. 6. Over the last three days tracked, bearish commentary outweighed bullish views for two days, which Santiment interprets as a possible bottom signal.
Traders should note that these mood swings are being measured by crowd talk, and when optimism climbed too high earlier, that was flagged as a reliable top signal.
Reports have disclosed key price points that traders are watching closely. XRP is trading at $2.85 and still has not cleared the $3 barrier that it reached briefly in the past few weeks.
Support is placed around $2.60–$2.80, and analyst CryptoInsightUK says the $2.72 to $2.75 zone remains a major structural level.
Holding above that range shows buyers have stepped in repeatedly since the rally from $0.50, the analyst added. Breaks above $3.17 and $3.65 would be seen by some as confirmation of stronger upside momentum.
Based on technical notes from CryptoInsightUK, a move following the 4.236 Fibonacci extension could reach $6.90, with a larger wave potentially taking prices toward $8–$12.
This one is pumpy
Patterns like a descending triangle can break either way, so traders are watching for a clear close above the stated targets.
Yet XRP has struggled to push past $3. That contrast has left some investors scratching their heads. At the same time, XRP has not fallen below $2.60 since the breakout that took it to $3.66 in July, which supports the view that buying interest exists underneath current levels.
For now, data and sentiment point toward a possible setup where fear fades before prices rise.
Featured image from Fingerlakes1.com, chart from TradingView
