XRP and Stellar Lumens [XLM] Price Analysis: XRP shows signs of recovery as XLM continues to fall

2019-5-6 15:30

The cryptocurrency market failed to post any impressive rallies, falling shortly after a brief bull run. The collective digital market registered a market cap of $180.9 billion.

1-day XRP chart

The third largest cryptocurrency on CoinMarketCap, XRP held a market cap of $12.6 billion and was valued at $0.299 after dropping by 1.57% over the last 24 hours. At press time, the crypto-asset recorded a 24-hour trading volume of $864 million.

Source: TradingView

The one-day XRP chart registered a minor uptrend from $0.29 to $0.36, and a significant downtrend from $0.51 to $0.36. The resistance points for the chart were found at $0.41, $0.45 and $0.51, while the support stood firm at $0.29.

Parabolic SAR: The dotted markers were below the candlesticks, indicating a bullish phase for XRP.

MACD: The MACD line was above the signal line, indicating a bullish trend for the digital coin.

Klinger Oscillator: The reading line was also above the signal line, pointing towards a bullish price pattern for XRP.

1-day XLM chart

Stellar Lumens [XLM] held a market cap of $1.86 billion and was priced at $0.097, at press time. The coin recorded a 24-hour trading volume of $205 million. XLM failed to post gains and fell by 1.68%.

Source: TradingView

The one-day Stellar Lumens [XLM] chart registered a downtrend from $0.25 to $0.13. No significant uptrends were observed on the one-day XLM chart. The resistance points were marked at $0.166 and $0.206. The digital asset found support at $0.084.

Bollinger Bands: The bands indicated a stagnant market phase for the coin.

Awesome Oscillator: The closing bar of the indicator was red, suggesting that a period of bearish activity may be in the offing.

Chaikin Money Flow: The CMF was also below the zero-line, indicating that money was flowing out of the coin market. Hence, a bearish price trend for the crypto-asset was recorded.

Conclusion

XRP continued to project a stagnant market phase along with mixed, bullish and bearish signs, while XLM continued to under-perform and recorded strong bearish signals.

The post XRP and Stellar Lumens [XLM] Price Analysis: XRP shows signs of recovery as XLM continues to fall appeared first on AMBCrypto.

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