XRP/USD and Stellar Lumens [XLM/USD] Price Analysis: Coins continue to struggle with sideways movement

Despite the crypto-market gradually recovering from the depths of the crypto-winter, XRP continues to be one of the worst performing coins in the crypto universe. While the second largest altcoin maintained a sideways trend throughout the year, Stellar Lumens [XLM] has been recovering slowly since February, 2019.

XRP 

Support 1: $0.288

Resistance 1: $0.340

The 1-Day chart for XRP pictured a highly uncertain bearish market for the altcoin. Although the reading displayed telltale signs of a severe fall in value, the crypto maintained concrete support at $0.288 through a 5-month long period.

XRP was trading at a value of $0.300667 after gaining by 0.36% over 24 hours, at press time. Moreover, the coin sported a trading volume of $89 million with a market cap of $12.6 billion, according to CoinMarketCap.

Relative Strength Index: As the RSI indicator maintained a comfortable position within the range, no immediate buying/selling pressure was projected for XRP.

MACD: The alternating histograms and the position of the blue and red plots suggested a stalemate between the bearish and bullish pressures of the market.

Awesome Oscillator: Red spikes on the histogram suggested a slight increase in selling pressure.

Stellar Lumens [XLM]

Resistance 1: $0.135

The 9th largest cryptocurrency in the world showed an impressive bull performance in 2019. However, its bullish momentum has since stalled. The coin was yet to breach its strong resistance of $0.135.

Stellar Lumens recorded a minor gain of 0.14%, taking the coin’s value to $0.094224, at press time. Apart from this, the cryptocurrency held a trading volume of $20 million with a market cap of $1.8 billion.

Parabolic SAR: The dotted markers forming above the graph suggested an immediate bearish market for XLM.

Klinger Oscillator: Similarly, the blue plot was trending below the green plot, indicating an increase in selling pressure.

Chaikin Money Flow: The CMF was consistently hovering below the zero line, suggesting that capital was flowing outside the XLM market.

Conclusion

XRP was yet to join the rest of the cryptocurrency market in recording significant price hikes in 2019, while XLM continued to enjoy more sideways movement.


Subscribe to AMBCrypto’s Newsletter


(Excerpt) Read more Here | 2019-05-09 14:30:57
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here