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XRP vs Stellar Lumens Price Analysis: XRP chases bulls as XLM struggles with bears

Sarvesh Kumar

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XRP v Stellar Lumens [XLM] Price Analysis: XRP chasing the bulls as XLM struggles with the bears.
Source: Pixabay

The 24-hour trading volume for XRP was recorded at $1.57 billion, while its market cap was recorded to be over $17 billion, XRP was priced at $0.4184. The 24-hour trading volume for XLM was almost $4.25 million, with it’s market cap recorded at $2.4 billion. XLM was priced at $0.1263, at press time.

1 Day XRP chart

Source: TradingView

A downtrend was noted from $0.4461 to $0.3666, with resistance at $0.4609 and support at $0.2801.

Parabolic SAR the markers for the indicators were seen above the candle which projected a bearish market.

Chaikin Money Flow pointed towards a money inflow market situation, at press time.

Klinger Oscillator indicated towards a bearish divergence.

1 Day XLM chart

Source: TradingView

A downtrend was noted from $0.2493 to $0.1386, XLM saw two notable resistances $0.2488 and $0.1427, and support was sighted at $0.0721.

Bollinger Band indicated squeezing volatility in the market.

The MACD indicator suggested a bearish crossover, at press time.

Relative Strength Index pointed towards a buying pressure in the market.

In conclusion, the bulls caught hold of XRP, even as XLM struggled with the bears.  

 





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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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Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report

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Ampleforth could help create next gen synthetic commodities for diversification of portfolios claims new Blockfyre report
Source: Unsplash

Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.

The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.

Synthetic Commodity

Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.

In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.

The report stated,

“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”

Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,

“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”

The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.





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