#MileiMemeCoinControversy

On February 17, 2025, Ripple (XRP) saw its value drop by 3.24%, reaching $2.987.

This decline is attributed to several factors, most notably recent political developments, such as Argentine President Javier Milei’s announcement of a new cryptocurrency that raised concerns about its potential to be a scam, which has led to a decline in investor confidence in the cryptocurrency market.

Technically, XRP is facing resistance at $2.50, with strong support at $2.36. The Relative Strength Index (RSI) is showing a neutral reading of 52, indicating a balance between buying and selling forces.

Looking ahead, some analysts are predicting that XRP could reach $3.35 in the near term, especially if the currency manages to break through the current resistance levels. However, these forecasts depend on several factors, including regulatory developments and institutional adoption of the currency.