XRP Bearish Sentiment Builds as Traders Predict $1 Rebound

XRP has seen a significant price drop in recent days, causing traders to become increasingly bearish on its short-term prospects.

Following a brief period of recovery, XRP's price plummeted back to levels not seen this month, raising concerns among market analysts.

According to data from crypto prediction market Kalshi, traders are predicting that XRP could retest the $1 level this August, with a possible trading volume of about $13,374.

The bearish sentiment is fueled by XRP's recent price movement, which has remained consistently in red territory for an extended period.