[Digital Today reporter Yoonseo Lee] XRP has regained a three-month high, fueling expectations it could top $1.70 within August.

On Aug. 22 (local time), blockchain outlet U.Today reported that users on prediction market platform Kalshi are betting on the chance that XRP will exceed $1.70 by the end of this month. The contract is structured to settle if XRP trades above $1.70 at least once by Aug. 31, rather than based on the month-end closing price.

The expectations stem from a recent sharp rise in price. XRP has jumped more than 52 percent in a week, marking one of its strongest rallies this year. On Aug. 22, it rose as high as $1.69 intraday, returning to its highest level since May. That leaves it just $0.01 short of the $1.70 target.

The surge appears to be easing somewhat. After topping 20 percent over the previous two days, the daily gain has slowed to about 9 percent, and it is now hovering around $1.50 after setting an intraday high. The uptrend remains intact, but it is seen as entering a pause along with short-term profit-taking.

On Kalshi, the implied probability of XRP exceeding $1.70 within August stood at 49 percent as of Aug. 24. The chance of topping $1.60 was 70 percent, and trading volume in the related market was about $275,500. That suggests optimism about a break above $1.70 is evenly matched by the view that it will be difficult.

Prediction market probabilities, however, are not forecasts that guarantee the target will be reached, but figures that reflect participants' real-time bets. The probability can also change quickly if XRP's price and market supply-demand conditions shift.

The key question going forward is whether XRP can hold the $1.50 level while regaining $1.60 and its previous peak of $1.69 in sequence. If the rally continues, it could exceed $1.70 within the month, but if buying weakens it may give back part of the recent surge. Ultimately, whether it breaks $1.70 is expected to be a short-term test of the rally's staying power. With an additional rise of about 13 percent needed from the current price, whether spot demand and trading volume are sustained is seen as setting the next direction.