XRP Traders Bet on 59% Chance of Price Plunge Below $1

XRP's price has been struggling to gain momentum in the face of market volatility. A recent survey from Kalshi, a crypto prediction market, suggests that traders are losing confidence in its potential.

The data shows that there is a 59% chance of XRP dropping below $1 this year, with some traders predicting it as more likely than not. However, it's essential to note that these predictions do not guarantee the outcome, but rather reflect the collective expectations of traders willing to risk capital on the outcome.

XRP has been experiencing mixed price action, and its inability to retain positive momentum has led to consistent losses despite frequent expectations of a potential price breakout. However, in July, XRP did manage to break a bearish trend, delivering a 6% gain this month and extending a seven-year streak of steady positive July returns.