Kalshi Sees XRP Reaching $1.70 in September, But Traders Are Skeptical

Kalshi's September XRP market is showing a $1.70 forecast, but traders are only willing to pay 32 cents for each contract that bets on this price level. The current XRP price is near $1.55, and there are just five days left until the contract settles.

XRP has already cleared Kalshi's $1.40, $1.50, and $1.60 strikes this month, with the last one settling on September 22. However, traders are still cautious about betting on XRP reaching $1.70, which would require a gain of around 9.8% in just over four days.

The backdrop for XRP is not favorable, as bitcoin's price has stalled near $84,000 after failing to break above $87,000 this week. XRP's pullbacks have historically tracked bitcoin's movements, and traders are also keeping an eye on the $157 million in XRP stolen in the Bitget hack.

Despite these challenges, Kalshi's full-year XRP market has warmed up, with the contract on XRP topping $2.00 in 2026 rising to 59% from 53% a day earlier. This suggests that traders are more confident about XRP's long-term prospects than its short-term price action.