The founder of the Ripple network has posted his first tweet in 14 years and the XRP price has exploded as a result.
The token has accumulated 24-hour gains of nearly 9% even though volumes have gone up by just 3% during this period.
This uptick accompanies a strong recovery seen across the entire crypto market after President Donald Trump managed to get Israel and Iran to agree to a cease-fire that seems to be already hanging on a balance.
Arthur Britto created the Ripple blockchain in 2011 alongside his partners David Schwartz and Jed MacCaleb. However, he has been away from the spotlight for more than a decade.
Twenty hours ago, his X account published an emoji – the first post that Britto has made after this long period of silence.
The Ripple community went crazy after they saw the post and retail traders are probably behind today’s strong uptick in XRP.
Britto’s partner, Schwartz, who is currently the project’s Chief Technology Officer (CTO), confirmed that his account has not been hacked.
What could Britto’s reappearance mean to Ripple’s future? The community seems to agree that it favors a bullish XRP price prediction.
XRP Price Prediction: XRP Could Spike to $2.6 If FOMO Makes Its Magic
Looking at the daily chart, the market’s recovery alongside this “Britto boost” has pushed XRP back above its key psychological support of $2 per token.
Trading volumes have been above the average in the past 3 days, which could be the reason why this 24-hour volume register is not reflective of how high traders’ interest is at the time.
Now that the price has moved above this support level, it seems poised to retest the nearest resistance at $2.33. Momentum indicators favor a bullish XRP price prediction as well since the Relative Strength Index (RSI) has moved above the 14-day moving average.
Despite the latest drops, the 9-day and 21-day exponential moving averages (EMAs) have managed to stay above the 200-day EMA. This is a positive sign that buying interest below $2 remains quite strong.
Britto’s reappearance could ignite a short squeeze if this bullish momentum continues to gain traction in the next few days and could end up propelling the token to $2.6 by the end of the week.
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