$XRP has recovered from its recent volatility, posting one of the biggest price breakouts seen this year as market sentiment suddenly flips bullish.
Amid the bullish momentum, $XRP traders on prediction market platform Kalshi are betting on more upside movement for $XRP after it just reclaimed its three-month high.
$XRP to $1.70?
The latest data provided by the prediction market firm shows that its traders are betting on $XRP's chances of hitting $1.70 before the end of August.
This shows that the traders are becoming more optimistic about $XRP's potential of reaching a major milestone this month, as the latest breakout saw $XRP skyrocket by over 58% within just one week.
This prediction from Kalshi traders has proven accurate, as $XRP's recent rally saw $XRP recovering to May highs, offering it a good chance of hitting $1.70 before August runs out.
Following the rally, $XRP surged to reclaim $1.69 as of Saturday, August 22, providing a high possibility of actually reaching $1.70 this August.
$XRP rally cools
The rapid price surge seen over the last few days has begun to cool, as $XRP's daily price gains dropped modestly to around 9% compared to gains of over 20% seen in the last two days.
While it still maintains its momentum, trading on a bullish trajectory, $XRP is currently hovering around the $1.5 mark, despite recording an intraday high of $1.69.
It remains uncertain if $XRP has wrapped up its recent price breakout, but analysts predict a move past $1.70 is still possible this month if the rally extends.