XRP Traders Predict $1 Price Rebound in August

XRP's price has been experiencing extreme volatility, but it appears to be trending downward. Following its recent decline, traders are becoming increasingly bearish on its recovery prospects in the short term.

According to Kalshi, a crypto prediction market, traders are predicting that XRP could retest the $1 level this August. This sentiment shift is largely fueled by the asset's recent price movement, which remained consistently in red territory for an extended period.

XRP has shown some recovery momentum over the past 24 hours, with a decent gain of about 1.61%. However, market analysts suggest that traders are becoming exhausted and may be unable to sustain this positive trend.