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XRP and Stellar Lumens [XLM] Price Analysis: Cryptos slip and fall into the bear’s trap

Namrata Shukla

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XRP and Stellar Lumens [XLM] Price Analysis: Cryptos slip the growth ladder to fall in the bear's trap
Source: Pixabay

The cryptocurrency market saw a sudden rise in the prices of most cryptocurrencies, including XRP and Stellar Lumens [XLM], on April 15. However, the two did not register any significant gains and had started to correct themselves, at press time.

XRP

At press time, XRP was valued at $0.3290, with a market cap of $13.75 billion. It noted a 24-hour trading volume of $804 million and witnessed a growth of 1.09% over the past day. Over the past seven days, XRP fell by 8.58% and continued to dip by 0.15% over the past hour.

Source: Trading view

Source: TradingView

According to XRP’s long-term graph, a downtrend was noted from $0.5551 to $0.3660. However, no significant uptrend was traced for the coin. It marked a resistance at $0.3892 and a support at $0.2895.

Bollinger Bands appeared to be converging, reducing the volatility in the market. The moving average line was over the candles and marked a bearish trend.

Awesome Oscillator noted a weakened bearish trend.

Chaikin Money Flow was crawling below the zero line, marking a bearish market.

Stellar Lumens [XLM]

Source: Trading view

Source: TradingView

According to the one-day graph of XLM, a massive downtrend was noted from $0.2775 to $0.1340. However, no uptrend was marked on the graph. The resistance was marked at $0.1349 and the support was at $0.0751.

Parabolic SAR indicated a bearish trend as the markers aligned above the candlesticks.

MACD line was under the signal line, noting a bearish reign.

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

Conclusion 

The long-term graphs for both XRP and XLM predicted a bearish future for the coins.





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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.

Altcoins

Tron [TRX] surges by over 6% as token storms back into the top 10

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Tron [TRX] price surges by over 6% as token back in top 10 as bulls take control
Source: Pixabay

Tron’s [TRX] price was surging, even as the cryptocurrency market cooled down following a brief rally anchored by Bitcoin [BTC]. The collective market cap stood at $324 billion. Following the surge, the token was back among the top 10 coins of the cryptocurrency market, a month after CEO Justin Sun promised the same. His tweet had said,

“#TRON will be back to Top 10 in June! #BitTorrent will be Top 30 in Q2! Let’s wait and see! #BTT $BTT $TRX #TRX”

However, despite the fact that Tron’s native token was prospering, BitTorrent [BTT] was still down at the 35th position on CoinMarketCap.

Despite low trading volume lately, TRX gradually climbed to break its resistance at $0.035. The latest bullish swing was speculated to lead TRX to breach the much-awaited $0.04 resistance.

Tron’s climb up the charts and into the top 10 is a surprise for some, especially since Tron overtook Cardano. The Charles Hoskinson-led crypto is still on a high after recent updates in its ecosystem, including the Shelly testnet going live.

Tron however, has not being standing idly. Recently, CEO Justin Sun revealed that Tron’s DApp trading volumes has exceeded those of EOS and Ethereum. Further, the Tron Foundation recently released a version of the Odyssey update on its mainnet. Further, Tron’s blockchain saw the release of a USD-backed stablecoin by Carbon recently.

Tron [TRX] 1-hour chart

Source: TradingView

Tron was up by 6.40% over the past 24 hours, driving its valuation to $0.039. Additionally, the digital asset rose by 3.7% over the last hour, at press time. TRX registered a market cap of $2.58 billion and a 24-hour trading volume of $900 million. The exchange with the highest TRX trading volume was BW.com, contributing 9.52% to the volume via the TRX/USDT trading pair.





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