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XRP and Stellar Lumens [XLM] Price Analysis: Bear tightens grasp over crypto-verse

Namrata Shukla

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Ethereum [ETH] and Tron [TRX] Price Analysis: Bears dominate market as tokens bleed
Source: Pixabay


The third largest cryptocurrency, XRP, has been fighting the bear market, along with Stellar Lumens [XLM]. XLM managed to level up and take the eighth position, but is yet to let go of the bears.

XRP

At press time, XRP was valued at $0.3101 with a market cap of $12.93 billion. The cryptocurrency noted a 24-hour trading volume of $833 million, while managing to register a growth of 2.42% over the past day. XRP fell by 1.91% over the week.

Source: Trading view

Source: Trading View

According to the one-day chart of XRP, an uptrend was noted from $0.3465 to $0.5639, but since this uptrend, XRP has been gradually falling. The downtrend was traced from $0.5821 to $0.3243. The resistance was marked at $0.3397 and the support at $0.2933.

Bollinger Bands appeared converged, forecasting a bearish trend as the moving average line was above the candlesticks.

Awesome Oscillator indicated a bearish market, however, the trend did not appear to be a strong one.

Chaikin Money Flow also marked a bearish trend, but the marker was approaching the zero-line.

Stellar Lumens [XLM]

At press time, XLM was valued at $0.1064, with a market cap of $2.04 billion. It registered a 24-hour trading volume of $275 million as it noted a growth of 4.26% within the past day. XLM fell over the past seven days by 5.57%.

Source: Trading view

Source: Trading View

According to the 24-hour chart of XLM, an uptrend from $0.2323 to $0.2813 was recorded, however, the prices fell massively post this uptrend. One downtrend was noted from $0.1902 to $0.0966, and another downtrend was observed from $0.2775 to $0.1187. The resistance marked by XLM was at $0.1187 and support was at $0.0751.

Parabolic SAR noted a bearish trend as the markers aligned over the candlesticks.

MACD line is under the signal line, pointing towards a bearish market.

Relative Strength Index indicated that the buying and the selling pressures had evened out.

Conclusion

XRP and XLM faced a similar fate as their markets were collectively falling.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

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