XRP’s chances of reaching a new price record have taken a hit, according to data from crypto prediction platform Polymarket. The platform shows that bettors now put the odds of XRP surpassing previous records before the end of the first half at 26%, down from 56% earlier this month.
The decline in investor optimism follows the US government’s decision not to stockpile altcoins, including XRP, for a proposed crypto reserve. The move was seen as a potential catalyst for increased demand and price gains.
However, there are still bullish signals for XRP. A Kelshi prediction market shows bettors putting odds of Ripple outperforming Bitcoin at 48%. Additionally, JPMorgan predicts that XRP ETFs will draw in $8 billion in inflows from investors in the first year after launch.
Retail interest in XRP remains significant, particularly in South Korea, where whale wallets acquired $700 million worth of the cryptocurrency last week. Traders on Deribit are also betting on a $5 price for XRP this year, with the call option holding a notional value of $3.9 million.
Meanwhile, Bitcoin and Ethereum have seen gains over the past 24 hours, trading at $83,269 and $1,915 respectively.
Source: https://www.dlnews.com/articles/markets/xrp-chances-of-reaching-record-price-in-june-slump