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