Ripple CTO Signals XRP Bullish Surge: New Rally Unleashed?
Recently, XRP trading in the range of $0.52-$0.53.
XRP climbed about 13% in a week.
Ripple CTO David Schwartz confirms in a cryptic tweet that the native cryptocurrency “XRP is ready to take off.” He tweeted a picture of big rocket boom bubble blower—69 Holes Bubbles and raised questions. That buzzed the XRP community on ‘Crypto Twitter,’ and they starts squealing with the price ($9) of the bubble shooter.
Great toy, but I have a few questions about your packaging decisions. pic.twitter.com/KmttnBAciN
— David “JoelKatz” Schwartz (@JoelKatz) June 4, 2023
Also, Ripple’s CTO explained the idea of Automated Market Makers (AMMs) and their profitable trading techniques in a recent Twitter statement. Which would help crypto investors make sense of the underlying ideas. However, the most recent comments highlight David Schwartz’s enthusiasm for the XRP.
Bullish Senorio on XRP
A bullish scenario for XRP in the event of market-wide bearish pressure would be the absence of significant selling volume. Therefore, once XRP can find support, bulls can hope for recovery and not dip sharply even during an XRP sell-off.
While the majority of the market either traded in a range or had a bearish outlook, XRP is in an uptrend with higher timeframe price charts. This event indicates that the XRP bulls were in control of the market’s upward movement from the $0.53 price level.
Further, recently, the altcoin has held the $0.55 mark. Also, the current $0.52-$0.53 resistance loomed large. However, Ripple’s XRP may have a chance to attempt a breakout in the coming days.
The fact that the golden pocket was encouraging for long-term investors meant that the XRP price could jump swiftly higher. According to the analysis, XRP might surpass the high of $0.58 and it will be pushed toward the $0.6 range.
At the time of writing, XRP traded at $0.5328 with a 24-hour trading volume of over $1.2 billion, which surged over 116%. Further, the XRP price soared by about 3% in a day and more than 12% in a week. Also, the cryptocurrency has climbed around 58% since the start of the year. However, the SEC vs Ripple lawsuit results are also one of the main factors in the XRP price rally.
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Filed under: Bitcoin - @ June 5, 2023 9:53 am