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Ripple (XRP) Stellar (XLM) Price Analysis – Exhaustion Awaits - Global Coin Report
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Ripple (XRP) Stellar (XLM) Price Analysis – Exhaustion Awaits

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Ripple
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Today, we’re going to take a close look at two charts that bear some clear resemblance within the spectrum of large market Coins in the crypto complex right now.

Both Ripple (XRP) and Stellar (XLM) are in wide-swinging trading ranges, or consolidative patterns, in the wake of the energetic mania style bull market that we saw to close out 2017. And both of them may be said to be in relatively bearish postures at present, however, with the potential to inflect and thereby exemplify and highlight what could be interpreted as powerful accumulation bids by strong hands setting the terms of support at key levels.

The most important feature that would mark such a shift would first be signaled by an exhaustion of the selling force that has defined this bearish trend for most of this year to date.

Ripple (XRP)

Price Analysis:

  • High: $0.45184
  • Low: $0.44020
  • Major Resistance Level: $0.47
  • Hourly MACD: Steady Downside Momentum

Chart courtesy of tradingview.com

Ripple (XRP) has established clear and important support around the $0.45 level. This level was established as a level of interest earlier this year when the coin made its lows toward the end of March and the beginning of April. We have now begun to test that level and slightly break underneath it, as we formulate the action for June and July.

This is a critical stage for XRP. As the pattern evolves, one no doubt can see the potential for something similar to a descending triangle pattern underway at a relatively significant time frame.

Under most circumstances, such a pattern has bearish implications. However, it can also be an exceedingly bullish pattern if the attempt to follow through on the downside is denied, thereby highlighting the importance of the level for deep-pocketed bulls who have begun to move in and accumulate this coin.

While we don’t yet see the signals that would differentiate these outcomes in the case of XRP, we do know that recent lows have been exemplified by oversold readings on a number of different important technical oscillators, suggesting that downside momentum has at the very least stalled out.

Selling pressure may well resume, but the region on the XRP chart defining the recent lows toward the end of June should be marked out with a close eye as it can define a reasonable risk point for speculative entries in Ripple (XRP) right now.

Stellar (XLM)

Price Analysis:

  • High: $0.196650
  • Low: $0.183387
  • Major Resistance Level: $0.215
  • Hourly MACD: Oversold on Sharp Momentum

Chart courtesy of tradingview.com

When we look closely at the Stellar (XLM) chart, we see something quite similar to the picture we find in many different coin charts at present: an important low toward the end of the first fiscal quarter that is being retested in recent action.

This process can be viewed a couple of different ways. From one point of view, it’s precisely what you may expect as part of the procession of a bear market. Levels get established, and then they get broken.

But that’s exactly where this type of chart becomes very interesting.

It is, in fact, an important technical testing ground. One assumes that the level being tested represents a spot on the chart – a price level – where we previously saw a large supportive bid enter the complex has a whole, and in Stellar (XLM), in particular.

And that’s where the testing process bears itself out as such an important feature in the construction of a technical chart pattern: if we see XLM attempt to break below that level and effectively fail at that breakdown, then we may, in fact, be seeing an important low come into place that offers a sound entry point for aspiring bulls to get involved with defined risk.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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