XRP vs Stellar Lumens [XLM] Price Analysis: Bears stall coins’ bullish momentum

The cryptocurrency market continued its bullish surge on May 28 and XRP was doing relatively well, with a 24-hour trading volume of $2.66 billion and a market cap of $17 billion, at press time. XRP’s competitor, Stellar Lumens’ [XLM] 24-hour trading volume was over $540 million, with a market cap at $2.59 billion, at press time.

1-Day XRP chart

Source: TradingView

Resistance 1: $ 0.57932

Support 1: $0.25757

The one-day XRP chart showed a downtrend from $0.57932 to $0.46246. Resistance was seen at $ 0.57932 and support was at $0.25757.

Bollinger Band indicated an increasing volatility in the XRP market.

Parabolic SAR’s dotted markers were seen above the candlesticks, depicting a bearish market trend.

Relative Strength Index showed significant buying pressure in the market.

1-Day XLM chart

Source: TradingView

Resistance 1: $0.4466

An uptrend was seen from $0.1305 to $0.3638 and the downtrend was pictured from $0.6796 to $0.5037, at press time. Resistance stood at $0.4466.

Aroon indicator indicated a sideways trend in the market.

MACD pictured a bullish crossover. However, a bearish crossover was expected soon.

Chaikin Money Flow suggested that the money flow into the market was more than the capital flowing out of the market.

Conclusion

XRP and Stellar Lumens [XLM] failed to consolidate their gains after bearish movements stalled their momentum.

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