Crypto analyst Paul Bennett has assessed that investor sentiment toward Ripple (XRP) and Ethereum (ETH) has deteriorated significantly in recent days.

Speaking through the CoinMarketCap community, Bennett cited data from DailyCoin and Santiment, explaining that market sentiment on XRP and Ethereum has returned to previous low levels. However, he cautioned that this should not be treated as a definitive bullish signal, emphasizing that "it should be taken as one signal."

■ Ripple's Bull-Bear Ratio Falls to 0.67, Ethereum to 0.89

According to Santiment data, the ratio of bearish to bullish outlooks on Ripple (XRP) dropped to roughly 0.67, meaning negative opinions now outnumber positive ones. Ethereum's ratio also fell to about 0.89, showing a considerably subdued market mood.

■ Extreme Pessimism Could Be a Point of Interest from a Contrarian View

Bennett noted that while this situation may appear negative on the surface, when investor sentiment tilts extremely to one side, it can become noteworthy from a contrarian perspective. If a large portion of market participants have already turned pessimistic, selling pressure may have been largely reflected in the price. Still, he drew a line, saying that negative sentiment in itself should not be immediately interpreted as a buy signal.

■ Whether XRP Holds $1.32–$1.49 Support Is the Key

For Ripple (XRP), the $1.32–$1.49 range is currently being cited as a major support zone. Bennett explained that if this zone holds and Bitcoin's (BTC) trend remains solid, the recent bearish sentiment could carry more meaning from a contrarian investment standpoint.

However, he believes an actual rebound requires changes in price and trading flows. His analysis is that investors need to watch whether buying volume returns and XRP recovers the resistance level around $1.67 amid rising trading volume.

In short, Bennett's view is far from the simplistic notion that 'growing pessimism equals an immediate rebound.' While a sharp contraction in investor sentiment can serve as one reference signal from a contrarian perspective, an actual bullish reversal can only be judged when support holding, rising volume, and the recovery of key resistance levels appear together. Ultimately, XRP's $1.32–$1.49 support zone and the $1.67 resistance level are expected to be the main points to watch in its upcoming price action.

[Virtual assets are high-risk assets with extreme price volatility. Analyses based on investor sentiment and technical indicators may differ from actual market movements and do not guarantee support at or breakout of specific price levels. Investment decisions and responsibility rest with the investor. This article was written based on publicly available material with the assistance of AI.]