Ripple network's founder Arthur Britto made a post for the first time in 14 years, while today there was a significant increase in the price of XRP.
In the last 24 hours, XRP gained about 9% in value, while the trading volume only increased by 3%.
Following U.S. President Donald Trump's announcement of a ceasefire between Israel and Iran, a general recovery was observed in the crypto market.
Arthur Britto, who launched the Ripple blockchain in 2011 with David Schwartz and Jed MacCaleb, had been out of the public eye for a long time. However, about 20 hours ago, he broke his silence by sharing just an emoji on his X (formerly Twitter) account.
This post was met with great excitement by the Ripple community, and many investors think that today's increase in the price of XRP may be related to Britto's move. Ripple CTO David Schwartz also confirmed that Britto's account has not been hacked.
So what does Britto's reappearance mean for Ripple? The community sees this as a positive sign for XRP.
XRP Price Expectations: Rise Towards $2.60 Possible
When the daily chart is examined, it is seen that XRP has formed strong support above the $2 level. Trading volumes have been above average for the last three days, so the increase in 24-hour volume alone may not fully reflect investor interest.
Since XRP has managed to stay above the $2 support, it has the potential to retest the resistance point at $2.33. Additionally, the 14-day Relative Strength Index (RSI) is supporting the upward momentum by rising above the average.
The 9-day and 21-day exponential moving averages are also above the 200-day EMA. This situation is a positive sign indicating that the buying pressure below $2 is quite strong.
If the rise continues in the coming days, short positions may get squeezed, and the price of XRP could rise to $2.60 by the weekend.
Although it doesn't seem likely for XRP to reach the $5 level for now, promising pre-sale crypto projects like SUBBD (SUBBD) are expected to perform well in the future.
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