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XRP vs Stellar Lumens [XLM] Price Analysis: Bulls and bears riding together in the long-term

Sarvesh Kumar

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Source: Pixabay

The crypto-sphere has experienced a positive market after a recent downfall, as noted by CoinMarketCap. XRP stood strong at the third position with a 24-hour trading volume at $1.8 billion and a market cap of $16 billion, at press time. The XLM 24-hour trading volume, at press time, was at $4.05 million and the market cap was $2.43 billion.

1-day XRP chart

Source: Trading View

The uptrend, at press time, was from $0.6016 to $0.9723 and the downtrend was from $0.5635 to $0.4676. The resistance was seen at $0.7930 and the support was at $0.6061, at press time.

The Bollinger Band noted increasing volatility in the market.

In the Parabolic SAR, the markers were seen above the candles and indicated a bearish market trend, at press time.

The Awesome Oscillator pointed towards a bullish buying opportunity, but was gradually moving towards the bearish zone.

1-day XLM chart

Source: Trading View

The XLM one-day chart showcased an uptrend from $0.4796 to $0.8379 and a downtrend from $0.7872 to $0.3228. The resistance was at $0.1238 and the support was at $0.2240, at press time.

Chaikin Money Flow was seen coming closer to the zero-mark, but a higher cash inflow was noted.

Aroon indicator, the up-line and the down-line were seen falling, which signified a sideways trend.

Relative Strength Index depicted a buying pressure in the market.

Conclusion

The XRP coin was seen having a combination of bearish and bullish market trends, as shown by the indicators. XLM leans towards a bullish market.





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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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Bitcoin

ErisX goes all hands on deck to launch a Bitcoin Futures market

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ErisX goes all-hands on deck to launch a Bitcoin Futures market
Source: Unsplash

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.





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