Market attention is focused on whether XRP could retest the $1 level in August.

U.Today, a blockchain outlet, reported on Aug. 9 that traders on the Kalshi prediction market have recently leaned toward XRP slipping back to around $1 this month.

The backdrop is a sharp recent bout of price weakness. XRP returned briefly to a rising range after experiencing extreme volatility for several days, but then slid to levels not seen so far this month. As the slowdown continues, confidence in a short-term recovery has also weakened, and market sentiment is gradually tilting bearish.

The latest data on Kalshi also showed that trend. Traders are betting on the possibility of a retest of the $1 range as they weigh how far XRP could fall in August. XRP has already fallen to around its previous low of about $1.02, prompting market participants to take a more cautious stance on the risk of further declines.

Money is also moving. Related trading volume on the prediction market was tallied at about $13,374. The size is not large, but it is clear that traders are actively positioning for downside risk in August. That also suggests the recent sharp drop is not just a temporary adjustment but is feeding into worsening sentiment.

Spot price action is not moving fully in the same direction as the prediction market. XRP stayed in a prolonged weak range, but has recently been signaling some recovery from its downtrend. Some market analysts also mentioned growing seller fatigue, meaning an oversold rebound attempt could emerge in the short term after a sustained run of declines.

XRP rose about 1.61 percent over the past 24 hours. The gain is not large, but the rebound after a prolonged drop is being read as a sign the market is not in a one-way collapse. If XRP maintains this pace, it could partly offset traders' negative outlook.

The XRP market is ultimately sending two signals at the same time. Bets in the prediction market on a retest of $1 are increasing, while the spot price is attempting a short-term rebound. That is likely to keep attention on whether XRP can defend support in the low $1 range and whether it can extend its 24-hour rise to reverse bearish sentiment.

If XRP comes under renewed threat near $1.02, where it previously dipped, bearish bets among prediction market participants could gain more traction. If the current recovery continues, the August downside view could weaken somewhat. With market views divided on near-term direction, XRP may continue to see high volatility for the time being.