u.today
$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.