XRP and Stellar Lumens [XLM] Price Analysis: Bear surrounds coin despite growth

The cryptocurrency market saw most of the major coins register growth at press time, including XRP and its competition Stellar Lumens [XLM]. However, this rise in prices of coins is only temporary when it comes to long-term prediction, if the charts are to be believed.

XRP

At press time, XRP noted a rise in its prices by 0.23% over the past day. Over the past seven days, the coin registered a 1.36% growth and continued to rise by a minimal 0.24% over the hour. XRP was valued at $0.3329, with a market cap of $13.97 billion. The 24-hour trading volume of the coin was $987 million.

Source: Trading View

On the long-term chart of XRP, a massive downtrend was traced from $0.5551 to $0.3660, followed by a minimal growth from $0.2948 to $0.3200. The coin marked resistance at $0.3669 and support at $0.3057.

Bollinger Bands appeared to have diverged, indicating an increase in market volatility. The moving average line was above the candlesticks, pointing towards a bearish market.

Awesome Oscillator indicated a weakened bullish trend.

Chaikin Money Flow also marked a bearish market as the marker line was under the zero-mark.

Stellar Lumens [XLM]

At press time, XLM was valued at $0.1169 as the coin noted a surge of 0.75% over the past day. XLM noted a growth of 1.16% over the past seven days, but dipped by a meager 0.12% over the hour, at press time. The market cap of the coin was reported to be $2.26 billion and the 24-hour trading volume was $255 million.

Source: Trading View

According to the one-day chart of XLM, a massive downtrend was marked from $0.2775 to $0.1340, followed by a minimal uptrend from $0.0737 to $0.1146. The resistance was marked at $0.1340 and the support was at $0.0838.

Parabolic SAR marked a bearish market as the markers aligned above the candlesticks.

MACD line was under the signal line, indicating a bearish market.

Relative Strength Index indicated that the buying and the selling pressures had evened each other out.

Conclusion 

According to the long-term chart of XRP and Stellar Lumens [XLM], a bearish trend was being forecasted.

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