#MarketPullback (XRP) decreased in value by 3.24%, bringing its price to 2.987 US dollars.
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 the possibility of it being a scam, leading to a decline in investor confidence in the cryptocurrency market.
Technically, XRP's price is facing resistance at the $2.50 level, with strong support at $2.36. The Relative Strength Index (RSI) shows a neutral reading at 52, indicating a balance between buying and selling pressures.
Looking ahead, some analyses predict the possibility of XRP's price reaching $3.35 in the near term, especially if the currency can break through current resistance levels. However, these forecasts depend on several factors, including