XRP More Likely to Hit $1.70 This August as 58% Rally Shifts Sentiment on Kalshi

XRP has recovered from its recent volatility, posting one of the biggest price breakouts seen this year as market sentiment suddenly flips bullish.

Amid the bullish momentum, XRP traders on prediction market platform Kalshi are betting on more upside movement for XRP after it just reclaimed its three-month high. 

XRP to $1.70?

The latest data provided by the prediction market firm shows that its traders are betting on XRP’s chances of hitting $1.70 before the end of August.

This shows that the traders are becoming more optimistic about XRP’s potential of reaching a major milestone this month, as the latest breakout saw XRP skyrocket by over 58% within just one week.

This prediction from Kalshi traders has proven accurate, as XRP’s recent rally saw XRP recovering to May highs, offering it a good chance of hitting $1.70 before August runs out.

Following the rally, XRP surged to reclaim $1.69 as of Saturday, August 22, providing a high possibility of actually reaching $1.70 this August.

XRP rally cools

The rapid price surge seen over the last few days has begun to cool, as XRP’s daily price gains dropped modestly to around 9% compared to gains of over 20% seen in the last two days.

While it still maintains its momentum, trading on a bullish trajectory, XRP is currently hovering around the $1.5 mark, despite recording an intraday high of $1.69.

It remains uncertain if XRP has wrapped up its recent price breakout, but analysts predict a move past $1.70 is still possible this month if the rally extends.