XRP and Stellar Lumens [XLM] Price Analysis: Coins ride the bull wave after weeks of stagnancy

After weeks of stagnant movement, XRP finally joined the market rally driven by the bulls. XRP was priced at $0.432 with a market cap of $18.84 million. Stellar Lumens [XLM] is at the 9th position on CoinMarketCap, and was priced at $0.120, with a market cap of $2.23 million.

XRP – 1 Day 

Source: TradingView

The uptrend on the 1-day graph for XRP extended from $0.27 to $0.29. The downtrend stretched from $0.55 to $0.36. The resistance line stood at $0.41, while the support was at $0.294.

In the Aroon indicator, the Aroon top line is seen touching the 100 mark, showed a bullish market trend.

The Chaikin Money Flow suggested that the money inflow into XRP market was greater than the outflow of capital.

In the Relative Strength Index, the indicator was seen crossing the 70 mark. This suggested an overbought market trend.

XLM – 1 Day 

Source: TradingView

On the 1 day graph of XLM, the uptrend was seen starting from $0.04, going all the way to $0.08. The downtrend started from $0.27 going down to $0.13. The resistance line stood at $0.12 and the support was at $0.074, at press time.

The MACD indicator showed a bullish crossover, making it a bullish market trend.

The Awesome Oscillator indicated short-term momentum.

Bollinger Bands exhibited expanding volatility.

Conclusion

The market for XRP & XLM was overall bullish. However, a few bearish signs were registered on a few indicators.

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