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Analysis

XRP vs. Stellar Lumens [XLM] Price Analysis: XLM prices perform better than its rival, XRP

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XRP Vs. XLM Price Analysis: XLM prices perform better than its rival, XRP
Source: Pixabay

XRP and XLM joined other altcoins and pumped on the back of Bitcoin’s sudden surge. XRP and XLM continued the same trend, at press time.

The price of XRP was $0.36 with a market cap of $14.9 billion, while the price of XLM was $0.128 and the market cap was hovering at $2.45 billion, at press time. XRP, the third largest cryptocurrency by market cap, was facing competition from XLM after Stellar and IBM partnered with a vision to develop a cross-border payments system.

Ripple’s xRapid already has 200+ partners signed up to use Ripple’s blockchain technologies. However, a few of these use xRapid technology to transfer funds across borders by leveraging XRP. World Wire, developed by IBM in tandem with Stellar, will do the same things as xRapid, but is currency agnostic and hence, any currency, including XLM, can be used.

XRP 1 Day chart

Source: TradingView

Support 1: $0.3069
Support 2: $0.2587
Resistance 1: $0.5836
Resistance 2: $0.6880
Resistance 3: $0.9041

The Aroon indicator showed a falling downtrend and an uptrend, which indicated XRP prices heading into the consolidation phase or sideways movement.

The Chaikin Money Flow crossed the zero-line to the bottom, indicating that money was flowing out of the market.

The Relative Strength Index was above the 50-line, indicating higher buyers’ momentum.

XLM 1 Day chart

Source: TradingView

Support 1: $0.0964
Support 2: $0.0742
Resistance 1: $0.1239
Resistance 2: $0.1901
Resistance 3: $0.2796

The Aroon indicator for XLM showed a rising downtrend, while the uptrend i.e., the Aroon green line was collapsing. This indicated an increase in the strength of the downtrend.

The Chaikin Money Flow for XLM was above the zero-line, indicating steady money flow into the XLM market since 1 February, 2019.

The Relative Strength Index was above the 50-line, indicating that the momentum was skewed towards the buyers.



Conclusion

XRP indicated that it was going into a consolidation phase after the recent pump, while XLM prices were holding up well and indicated a slightly bullish trend, as confirmed by Aroon, Chaikin Money Flow and Relative Strength index indicators.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX bulls race to the top

Yash Rajan

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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX bulls race to the top
Source: Pixabay

Ethereum [ETH], the second largest cryptocurrency on CoinMarketCap, was priced at $249.71, at press time. The market cap of ETH was $26.5 billion, with the coin falling by 2.62% over 24 hours. At press time, the 24-hour trading volume was just over $11 billion.

With $1.87 billion in market cap, TRX was ranked eleventh and was priced at $0.02, at press time. The 24-hour trading volume was $692.92 million, with the coin falling by 3.87% in value, at press time.

1-Day ETH

ETH saw resistance at $266.14, and its support lines were traced at $150.45 and $104.64. There was an uptrend extending from $153.89 to $261.56. ETH strengthened its value by experiencing a hike in price and retaining continuous growth for the past two weeks.

Source: TradingView

Source: TradingView

Bollinger Bands were diverging and showcased an increase in volatility in the market. As the moving average line was below the candlesticks, a bullish trend was forecast.

Awesome Oscillator conveyed a bullish buying opportunity as the short-term momentum was rising swiftly.

Chaikin Money Flow indicator revealed that the amount of money flowing into the market was greater than the money flowing out of the market.

1-Day TRX

The resistance stood at $0.03 and the support lines stood at $0.02 and $0.01 for TRX. TRX saw its first uptrend from $0.026 to $ 0.031, and the second uptrend was from $0.024 to $0.034.

Source: TradingView

Source: TradingView

Moving Average Convergence/Divergence [MACD] indicator pictured a bullish crossover.

Parabolic SAR indicator conveyed a bullish trend as the dotted markers were traced below the candlesticks

Relative Strength Index indicator showed bullish divergence due to the oversold condition of the market.



Conclusion

The coins were strengthened by the bullish market trend. All indicators showed both coins recording steady and forward movement.





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