Kalshi Traders Bet on XRP's Slide Below $1 Amid Market Volatility

XRP's price has been experiencing mixed action in the current market downturn, with traders showing signs of losing confidence in its potential.

Latest data from prediction market Kalshi indicates a 59% chance of XRP falling below $1 this year, suggesting that traders see this outcome as more likely than not.

XRP has struggled to maintain positive momentum despite frequent expectations of a price breakout. In July, the asset's price broke out of a bearish trend, posting a decent gain of about 6% for the month and extending a seven-year streak of steady positive July returns.