XRP Bears Predict $1 Price Rebound in August

XRP has seen significant volatility in recent days, with its price plummeting to levels not seen this month. Despite a brief recovery to the green side of the market, XRP's price decline has led to increasingly bearish sentiment among traders.

According to data from crypto prediction market Kalshi, traders are now predicting that XRP could retest the $1 level in August. This prediction is fueled by XRP's recent price movement, which remained consistently in red territory for a long period.

However, some analysts suggest that traders may be becoming exhausted, and XRP's price is showing signs of recovery. As of the time of writing, XRP has gained 1.61% over the last 24 hours, potentially hedging against negative predictions from traders.