XRP vs Stellar Lumens [XLM] Price Analysis: Coins in bearish territory post correction

Ripple’s XRP made the headlines for carrying out more than 9 billion XRP transactions between wallets. However, the bullish ride did not last long. XRP was priced at $0.4363, with a market cap of $18.4 billion. The 24-hour trade volume came up to be $2.02 billion, out of which BW.com contributed 5.86% via XRP/USDT. XRP saw a 3.58% gain in the past 24 hours, at press time.

Stellar Lumens [XLM] was priced at $0.1320 with a market cap of $2.5 billion and was placed tenth, according to CoinMarketCap. The 24-hour trade volume came up to be $434 million, out of which LATOKEN contributed 12.83% via the XLM/BTC pair. XLM saw a gain of 2.97% in the past 24 hours, at press time.

1-day XRP

Source: TradingView

The one-day chart of XRP showed a downtrend from $0.5821 to $0.4554. The support point at $0.2881 was tested in December 2018, and $0.3595 acted as resistance on multiple occasions. The resistance points were at $0.4509 and $0.5272.

The Bollinger Bands had diverged and indicated decreased price volatility.

The Awesome Oscillator showed an increase in short-term momentum, presenting a bullish buying opportunity.

The Klinger Oscillator indicated a bearish environment for the coin.

1-day XLM

Source: TradingView

The one-day chart of XLM showed a downtrend from $0.2775 to $0.1395. The support point at $0.0728 was tested in February 2019, and $0.1122 was tested a couple of times in the past, after acting as a resistance as well. The resistance points were at $0.1406 and $0.2535.

The Parabolic SAR indicated a bearish trend as the dotted markers were below the candles.

The Klinger Oscillator showed the Klinger Oscillator to be below zero, and indicated a bearish trend.

The Awesome Oscillator showed an increase in short-term momentum, presenting a bullish buying opportunity.

Conclusion

The one-day chart of XRP showed a bearish trend post correction, as indicated by the aforementioned indicators. The same can be said about the one-day chart of XLM.

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