XRP Bulls Eye $1.70 as Kalshi Traders Bet on Further Upside

XRP has experienced one of the biggest price breakouts this year, with its value surging by over 58% in just one week. This sudden volatility shift has caused market sentiment to flip bullish, as XRP traders on prediction market platform Kalshi are now betting on more upside movement for XRP.

The latest data from Kalshi shows that its traders believe XRP's chances of hitting $1.70 before the end of August are high. This optimism is based on XRP reclaiming its three-month high and surging to a new intraday high of $1.69 as of Saturday, August 22.

Although the rapid price surge has begun to cool, with daily price gains dropping modestly to around 9%, analysts predict that a move past $1.70 is still possible this month if the rally extends.