XRP and Stellar Lumens [XLM] Price Analysis: Cryptos slip and fall into the bear’s trap

The cryptocurrency market saw a sudden rise in the prices of most cryptocurrencies, including XRP and Stellar Lumens [XLM], on April 15. However, the two did not register any significant gains and had started to correct themselves, at press time.

XRP

At press time, XRP was valued at $0.3290, with a market cap of $13.75 billion. It noted a 24-hour trading volume of $804 million and witnessed a growth of 1.09% over the past day. Over the past seven days, XRP fell by 8.58% and continued to dip by 0.15% over the past hour.

Source: Trading view

Source: TradingView

According to XRP’s long-term graph, a downtrend was noted from $0.5551 to $0.3660. However, no significant uptrend was traced for the coin. It marked a resistance at $0.3892 and a support at $0.2895.

Bollinger Bands appeared to be converging, reducing the volatility in the market. The moving average line was over the candles and marked a bearish trend.

Awesome Oscillator noted a weakened bearish trend.

Chaikin Money Flow was crawling below the zero line, marking a bearish market.

Stellar Lumens [XLM]

Source: Trading view

Source: TradingView

According to the one-day graph of XLM, a massive downtrend was noted from $0.2775 to $0.1340. However, no uptrend was marked on the graph. The resistance was marked at $0.1349 and the support was at $0.0751.

Parabolic SAR indicated a bearish trend as the markers aligned above the candlesticks.

MACD line was under the signal line, noting a bearish reign.

Relative Strength Index indicated that the buying and selling pressures had evened each other out.



Conclusion 

The long-term graphs for both XRP and XLM predicted a bearish future for the coins.





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