#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 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 expect XRP to reach $3.35 in the near term, especially if the currency manages to break through the current resistance levels. However, these expectations depend on several factors, including regulatory developments and institutional adoption of the currency.

Investors are advised to monitor global political and economic developments, as well as technical and regulatory developments in the cryptocurrency market, as these factors can significantly impact future price movements. $XRP