XRP is back to trading in the red territory after its price slowed significantly, showing a decline of about 4% over the last day. However, traders on the crypto prediction market, Kalshi, are still bullish on the asset.
Per the latest data showcased on the platform, traders are betting on XRP's potential price recovery as they predict a resurgence back to $1.50 before the month runs out.
$1.50 XRP target in view
The current XRP predictions on Kalshi provide a bullish outlook for the asset as traders bet on XRP reaching a high of $1.50 this month despite the ongoing price slump.
Amid the bullish XRP prediction, further data shows that the XRP prediction market has recorded about $89,586 in trading volume. This signals growing interest in XRP's potential price movement among traders.
While the bullish predictions have arrived at a time when XRP is trading sideways, it appears that traders are expecting a price recovery for the asset before September ends.
XRP's price reverses
Although XRP has maintained a positive momentum in the past week, stabilizing around the $1.40 mark, the asset is currently facing renewed selling pressure after failing to sustain its recent gains.
Over the last day, XRP has declined by 4.64%, dropping to $1.35 from a high of $1.43 within the last 24 hours as momentum gradually turns weak.
While activities on the prediction market suggest that traders still see room for a rebound toward the $1.50 mark for XRP this month, this means that XRP would need to rally by over 11% from its current level to reach the target.
U.Today Editorial Team
Dan Burgin
