Connect with us

Analysis

XRP v. Stellar Lumens [XLM] Price Analysis: Bearish market stalls coins’ momentum

Yash Rajan

Published

on

XRP vs Stellar Lumens [XLM] Price Analysis: XRP and XLM stall due to bearish market momentum
Source: Pixabay

XRP was priced at $0.40 and fell by 1.701%. According to CoinMarketCap, XRP’s market cap was $16.901 billion.

Stellar Lumens [XLM] had a market cap of $2.389 billion and was positioned 10th on the cryptocurrency charts. XLM was priced $0.123, and was falling by 0.41% over the day.

1-Day XRP

XRP registered resistance at $0.461, with support positioned at $0.384. The uptrend for XRP started from $0.402 to $0.457.

Bollinger Bands indicated decreasing volatility in the market as the bands were converging slightly.

Parabolic SAR conveyed a bearish pattern as the dotted markers were positioned above the candles.

MACD exhibited a bearish crossover as the MACD line was under the signal line.

1-Day XLM

XLM saw an uptrend starting from $0.132 to $0.141. Support was positioned at $0.119, with resistance at $0.142.

Parabolic SAR conveyed that the markers were aligned above the candles, pointing towards a bearish market trend for XLM.

Bollinger Bands revealed diminishing market volatility, as the bands were converging.

MACD pictured a bearish crossover.

Conclusion

Both XRP and XLM remained in bearish territory, despite the prices pumping slightly over the day.





Subscribe to AMBCrypto’s Newsletter


Bitcoin

Bitcoin falls by over 5% in an hour as major correction ensues; altcoins follow suit

Namrata Shukla

Published

on

Source: Pixabay

Bitcoin [BTC], the largest cryptocurrency in the world, revisited its glorious highs over the past few weeks. However, it would seem that Bitcoin is falling back to earth since the coin was falling by 5.88% in an hour, at press time.

The coin while falling by 5.88% over the hour, was being traded at $12,251 on Bitstamp exchange. The market cap of the coin was reported to be $224 billion and the 24-hour trading volume was $41.813 billion. Over the past 24 hours, BTC fell by 9.55%, while noting a growth of 35.78% over the week.

Source: Trading view

Source: Trading view

The Bitcoin community was rooting for the coin to cross $14k and after the strong bullish momentum showcased by the coin, the target was not a far fetched one. However, the crash suddenly pulled its price below $13k. Twitter user, @aquinastheory, explained the trend,

“First MA/EMA cross to the downside since June 2nd and the time before May 4th. Either new distribution/accumulation is gonna occur here within the next few days, weeks or we’re going down for sure. #bitcoin $btc #crypto #forexsignals”

Source: Twitter

Source: Twitter

The coin was highly traded on Binance with BTC/USDT pair, reporting a trading volume of $1.881 billion. BW.com followed Binance, noting a volume of $1.686 billion with BTC/USDT pair. The third place was taken by Huobi Global with BTC/USDT pair, with the volume reported to be $1.578 billion.





Subscribe to AMBCrypto’s Newsletter


Continue Reading