XRP News Today: Ripple Co-Founder Britto's Post Sparks 9% XRP Surge

Arthur Britto, a co-founder of Ripple, recently made his first post on X in 14 years, sparking significant interest and a surge in the price of XRP. The token experienced a 9% increase in value within a 24-hour period, despite a modest 3% rise in trading volumes. This price movement coincided with a broader recovery in the cryptocurrency market, influenced by geopolitical developments.

Britto, along with David Schwartz and Jed MacCaleb, created the Ripple blockchain in 2011. His sudden reappearance after a decade of silence has generated considerable excitement within the Ripple community. The community's enthusiasm is likely driven by retail traders who are optimistic about the potential impact of Britto's return on the future of Ripple and XRP.

David Schwartz, the current Chief Technology Officer (CTO) of Ripple, confirmed that Britto's account had not been compromised, adding credibility to the post. The community's reaction has been overwhelmingly positive, with many speculating that Britto's reappearance could have bullish implications for XRP's price.

Analysts have noted that the recent market recovery, combined with Britto's post, has pushed XRP above its key psychological support level of $2 per token. This movement suggests that XRP is poised to retest the next resistance level at $2.33. Momentum indicators, such as the Relative Strength Index (RSI), also support a bullish outlook, as the RSI has moved above the 14-day moving average.

Despite recent fluctuations, the 9-day and 21-day exponential moving averages (EMAs) have remained above the 200-day EMA, indicating strong buying interest below the $2 mark. If this bullish momentum continues, it could potentially trigger a short squeeze, driving XRP's price to $2.6 by the end of the week. However, reaching $5 in the near term remains uncertain.

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