XRP/USD vs Stellar Lumens [XLM/USD] Price Analysis: XLM remains bullish as XRP continues recovery

In a long list of the fluctuating fortunes of cryptocurrencies, XRP saw a major spike this month, trading from $0.322 to $0.456. The coin had maintained a sideways trajectory across the year. On the opposite end of spectrum, Stellar Lumens [XLM] recently marked its high at $0.142, making it one of the few altcoins to witness a successful recovery after the crypto-winter.

XRP/USD 1-Day

The one-day reading for XRP/USD showed a negligible change of 0.02%, placing the coin’s value at $0.397. Although the altcoin’s recent bull run was short-lived, the third-ranking cryptocurrency delivered commendable returns for early buyers, recently. Additionally, the crypto held a market cap of  $16.7 billion and a 24-hour trading volume of $2.6 billion, at press time.

Source: TradingView

Support 1: $0.305

MACD: Since the MACD line was positioned way over the signal line, a strong bull market for XRP was projected.

Awesome Oscillator: A green histogram indicated bullish momentum for the coin.

Chaikin Money Flow: The CMF indicator’s comfortable position above the zero line suggested growing inflow of capital into XRP market.

Stellar Lumens [XLM/USD] 1-Day

Stellar Lumens’ one-day chart showcased a fairly bullish trend through the year. The crypto was down by 1.28%, placing its trading value at $0.135208, at press time. Like XRP, XLM had also broken its previous resistances. Further, the coin was threatening to take Tether’s position, with a market cap of $2.59 billion and a 24-hour trading volume of $484 million, at press time.

Source: TradingView

Support 1: $0.098

Relative Strength Index: RSI indicated extremely high buying pressure for the XRP market

Bollinger Bands: Similarly, the divergence of the bands indicated extremely high market volatility.

Parabolic SAR: The dotted markers were below the candlesticks, which also indicated an immediate bullish trend for the XLM market.

Conclusion

XRP continued to recover after a dry run, while XLM maintained its growth trajectory.

Source: Read Full Article