XRP and Stellar Lumens [XLM] Price Analysis: XLM remains bullish while XRP sides with the bears

2019-5-21 15:30

XRP and Stellar Lumens [XLM] collectively fell prey to price corrections, with the tokens plummeting in valuation. At press time, XRP had suffered a 0.16 percent decline and was priced at $0.395. The market capitalization was relatively unaffected and stood at $16.6 billion, at press time.

XLM suffered a similar fate after it experienced a decline of 1.02 percent against the US Dollar. The trade volume was healthy and amounted to $458 million, with the token valued at $0.133.

XRP one-day chart

Source: Trading View

On XRP’s one-day chart, the token had undergone sideways movement between the resistances at $0.367 and $0.291, prior to them being breached. The uptrend extended from $0.335 to $0.454, and the new resistance was at $0.455.

The Bollinger Bands indicated a highly volatile period for the token

The Fisher Transform line witnessed a bearish trend for the token as the red line remained above the blue line

The Awesome Oscillator exhibited trend reversal and strong bearish momentum since red bars appeared in the chart

XLM one-day chart

Source: TradingView

XLM’s one-day chart exhibited a major uptrend, extending from $0.087 to $0.133, followed by another from $0.125 to $0.142. The new resistance line remained at $0.143 and the support line was at $0.074.

The Parabolic SAR indicated a bullish trend as the dotted markers were found below the candlesticks

The Relative Strength Index indicated that the buying pressure dominated selling pressure

The Chaikin Money Flow line was above the zero line, indicating that the capital entering the market was significant and more than the capital flowing out of the market

Conclusion

Despite the minor fall at press time, indicators suggested a bullish trend for Stellar Lumens [XLM]. However, XRP recorded a trend reversal and was projected to be bearish in the near term.

The post XRP and Stellar Lumens [XLM] Price Analysis: XLM remains bullish while XRP sides with the bears appeared first on AMBCrypto.

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