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XRP and Stellar Lumens [XLM] Price Analysis: Bear looms over XLM coin as XRP exhibits mixed signals

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Source: Pixabay


The cryptocurrency market witnessed more tumultuous movement, as prices of leading coins continued to tumble down. At press time, Stellar Lumens [XLM] held a market cap of $2.21 billion, and was priced at $0.11. The ninth largest cryptocurrency listed on CoinMarketCap accounted for a 24-hour trading volume of $19.30 billion. It registered a fall of 4.58% over the last 24 hours, owing it to the latest market slump.

XRP, the third leading cryptocurrency, also fell by 4.06% over the day and was priced at $0.32, at press time. The market cap was recorded to be $13.57 billion, while the 24-hour trading volume was $41.79 billion.

XRP 1 day

Source: TradingView

The candlestick arrangement for XRP’s one-day chart exhibited an uptrend from $0.29 to $0.26, along with a downtrend from $0.58 to $0.45. The resistances for this chart were marked at $0.38, $0.45 and $0.38, while points of support were found at $0.29 and $0.26.

Bollinger bands: The parallel bands depicted low volatility and a stagnant price forecast for XRP.

Awesome Oscillator: The closing bars in red predicted fall in price momentum for the coin market.

Chaikin Money Flow: The CMF was above the zero-line. Hence, a capital pump was predicted.

XLM 1 day

Source: TradingView

XLM’s one-day chart exhibited an uptrend from $0.27 to $0.48 and a downtrend from $0.56 to $0.37. Resistance for this chart was marked at $0.38, $0.45 and $0.58. Support points for XLM stood at $0.29 and $0.26.

Parabolic SAR: The dotted markers were above the candlesticks, suggesting a bearish pattern forming for XLM.

MACD: The MACD line was below the signal line post a bearish crossover.

Klinger Oscillator: The reading line was also below the signal line and pictured a bullish pattern for the coin.

Conclusion

XRP projected mixed signals with low volatility, while XLM showed the coin’s price siding with the bear.





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

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