XRP and Stellar Lumens [XLM] Price analysis: Coins undergo a sideways movement

The cryptocurrency market saw a price pump which helped most cryptocurrencies to rise, however, XRP and Stellar Lumens [XLM] did not note a significant growth in the market. XRP and XLM are also the only two major coin to have performed negatively since the beginning of the year.

XRP

At press time, XRP was valued at $0.3121 with a market cap of $13.15 billion. The 24-hour trading volume of the coin was noted to be $2.43 billion as it noted a fall of 0.28% over the past day. Over the past seven days, XRP noted a growth of 3.09%, but fell by 0.82% within an hour.

Source: Trading view

Resistance- $0.3669

Support- $0.2911

Bollinger Bands appeared to be diverging, indicating increased volatility in the market. Due to the current volatility in the market the moving average line is coinciding with the candlesticks.

Awesome Oscillator indicates a bullish momentum might catch up.

Chaikin Money Flow, however, pointed towards a bear’s trap as the marker aligned under zero.

Stellar Lumens [XLM]

At press time, XLM was valued at $0.0995 with a market cap of $1.91 billion. The 24-hour trading volume of the coin was $403.06 million as it fell by 0.48% within an hour. In the past seven days, the coin surged by a minimal 0.85% and registered a growth of 1.39% in the past day.

Source: Trading view

Resistance- $0.1346

Support- $0.0750

Parabolic SAR indicated a bullish market as the markers aligned under the candlesticks.

MACD line is under the signal line, however, might undergo a crossover soon.

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

Conclusion 

According to the long-term charts of XRP and XLM, the market seems to be stagnating.

 

Source: Read Full Article