XRP and XLM have seen better days and can definitely do better, considering ’s rally failed to push its prices up considerably. Almost every , including XRP and XLM, are failing to pump, even though breached the $6,000-level. This might imply that the correlation between and has been severed.
The price of XRP was $0.30 and it had a market cap of $12 billion, at press time. XLM was priced at $0.096, with a market cap of $1.75 billion.
XRP
Source:
Support 1: $0.3069
Support 2: $0.2587
Resistance 1: $0.5836
Resistance 2: $0.6880
Resistance 3: $0.9041
The Aroon indicator showed the Aroon red-line heading to the top, which indicated increased strength of the downtrend. This also indicated an overall bearish trend.
The Chaikin Money Flow indicator was below the zero-line, which indicated that the outflow of money was greater than the influx, which is a bearish indicator for XRP.
The Relative Strength Index showed that the momentum was skewed towards the sellers.
XLM
Source:
Support 1: $0.0964
Support 2: $0.0742
Resistance 1: $0.1239
Resistance 2: $0.1901
Resistance 3: $0.2796
The Aroon indicator showed a bearish downtrend for XLM, similar to XRP. The uptrend tried to take over the downtrend, but failed midway.
The Chaikin Money Flow was dipping significantly, indicating a strong outflow of money.
The Relative Strength Index for XLM almost hit the oversold zone, indicating selling pressure for XLM.
Conclusion
Both XLM and XRP were in a predominantly bearish territory as indicated by the Aroon, CMF, and RSI indicators.
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Published at Sat, 11 May 2019 15:03:53 +0000
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