XRP and Stellar Lumens [XLM] Price Analysis: XRP records feeble bull resistance while bears control XLM

2019-5-3 11:30

Even though the collective cryptocurrency market is on a recovery spree, Ripple’s XRP has been one of the worst-performing digital assets on the long-term chart. While XRP maintains its recently downgraded third position by market capitalization on CoinMarketCap, Stellar Lumens [XLM] gained prominence among investors. This is mainly due to the coin’s impressive partnership strategies and increased adoption rate in 2019.

XRP

Ripple’s XRP experienced an extremely bearish market, resulting in the coin’s value maintaining a horizontal trajectory throughout the year. The strong sideways trend has retained concrete support at $0.289 since December 2018. Similarly, XRP also continued to occasionally break the weak resistance, which was at $0.341, at press time.

The second largest altcoin gained 0.53% in value over the past 24 hours, placing its price at $0.3051, at press time. Additionally, XRP sported a trading volume of $94 million and a market cap of $12.8 billion.

Source: TradingView

Support 1: $0.288

Resistance 1: $0.341

Awesome Oscillator: The consecutive green lines with a downward projection suggested that the XRP market was recording some minor bullish movement

Relative Strength Indicator: RSI also suggests that XRP’s value will hold its current position as the selling and buying pressures were cancelling each other out.

Parabolic SAR: The dotted markers had formed above the candles, indicating a growing bearish trend.

Stellar Lumens [XLM]

Following the consistent declining value amidst the crypto-winter, Stellar Lumens [XLM] shocked crypto enthusiasts with a stellar performance after the first week of February 2019. The bullish momentum portrayed by the coin was prominent as the coin was valued at $0.1011, at press time.

Positioned ninth by market capitalization, the coin’s trading volume stood at $21 million and its market cap was $1.9 billion. Additionally, Stellar’s XLM token lost 0.36% value within 24 hours.

Source: TradingView

Resistance 1: $0.135

Klinger Oscillator: The blue plot maintained a lower position compared to the green plot, suggesting a bearish trend.

MACD: As the MACD line was under the signal line, a bearish market was in the offing.

Bollinger Bands: The constricting bands indicated reducing market volatility.

Conclusion: 

While XRP saw some bullish resistance as it struggled against the bear market, XLM was ravaged by the bears.

The post XRP and Stellar Lumens [XLM] Price Analysis: XRP records feeble bull resistance while bears control XLM appeared first on AMBCrypto.

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xrp xlm lumens stellar control bears market

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