2019-4-16 17:00 |
XRP and Stellar [XLM] price valuations have witnessed a sideways movement after the recent price hike as both tokens rallied to keep their prices consistent through the sudden market pump. XRP, the third largest cryptocurrency, recorded a market capitalization of $13.5 billion and was priced at $0.32. The decline rate over a 24-hour period was around 0.32 percent, however, the fall of valuation over the past seven days was a massive 8.73 percent.
Stellar’s XLM recorded a trading volume of around $234 million in the market and the token was priced at $0.11. XLM followed XRP’s cue and suffered a higher decline rate of 11.34 percent over the past seven days.
XRP one-day chart:
Source: Trading View
The long term one-day chart of XRP showcased a long-term resistance at $0.387, which was not breached during the surge. The prices kept moving between the resistance at $0.362 and the support at $0.292. The uptrend extended the valuation from $0.323 to $0.365.
The Bollinger Bands or BB indicators exhibited convergence on the chart, indicating a less volatile period for the token.
The Relative Strenght Index or RSI remained neutral as the selling and buying pressures cancelled each other out.
The Awesome Oscillator or AO indicated a bearish momentum that was losing dominance, at press time.
XLM one-day chart:
Source: Trading View
The XLM chart experienced an uptrend during the price surge, which propelled the valuation from $0.088 to $0.133. The support line for the token before the surge remained at $0.074 and the resistance line after the hike was placed at $0.135.
The Parabolic SAR markers hovered over the candlesticks in the chart, indicating a bearish trend for the virtual asset.
The Chaikin Money Flow of CMF line was above the zero-line and pointed towards the fact that the capital coming into the market was more than the capital leaving the market.
The MACD line exhibited a bearish trend for the token as the red line remained over the blue line.
Conclusion:
XRP and XLM continued to exhibit sideways movement and the price valuation was at an impasse with both bulls and bears failing to dominate the market.
The post XRP and Stellar [XLM] Price Analysis: Prices take a fall but bulls and bears arrive at an impasse appeared first on AMBCrypto.
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