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Analysis

XRP and Stellar Lumens [XLM] remain firmly in bearish territory

Sarvesh Kumar

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XRP taking a bear ride while XLM seen piggy backing
Source: Pixabay


Internet’s most-hyped cryptocurrency, XRP, made news recently after Ripple announced that XRP sales in the second quarter of 2019 will be lowered in an attempt to address inaccurate reported volume concerns. Its mortal enemy, Stellar Lumens [XLM] remained steady on cryptocurrency charts.

1 Day XRP chart

Source: TradingView

XRP held a market cap of $16 billion and recorded a 24 hour trading volume of over $2 billion.

XRP witnessed an uptrend from $0.3089 to $0.3938 and a downtrend from $0.5067 to $0.3636. Resistance was recorded at $0.5514, while support was sighted at $0.2794.

The Aroon indicator indicated sideways movement in the market.

Bollinger Bands pointed towards squeezing volatility in the market.

Klinger Oscillator denoted a bearish market.

1 Day XLM chart

Source: TradingView

The market cap for the coin stood at over $2 billion, while its 24 hour trading volume was recorded at over $445 million.

An uptrend was witnessed from $0.0880 to $0.1203 and a downtrend from $0.2754 to $0.1390. The resistance was sighted at $0.275, with the support at $0.0739, at press time.

Awesome Oscillator indicated a bearish selling opportunity.

Chaikin Money Flow pointed towards money inflow into the market, after a period of money outflow being greater than the inflow.

Relative Strength Index denoted an equilibrium in buying, selling pressure in the market.

Conclusion

Both coins were firmly in the bears’ territory.





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I am a journalist here at AMBCrypto. I cover news on prices of various coins in the crypto-verse and also work on the latest news of coins like - Bitcoin| Ethereum| Litecoin and more.

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