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XRP Price Stellar (XLM) Price: Busted, but What’s Next?

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XRP Price
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Crash mode is in effect once again for the cryptocurrency complex, as a number of large market cap coins emptied out their guts again last night, sliding lower by big chunks.

As we take a close look at the charts of XRP price and Stellar (XLM) price, it’s important to focus an unemotional and clear view on the raw technicals to find an edge as far as tone and levels looking forward.

XRP

Price Analysis

  • High: $0.27671
  • Low: $0.24706
  • 24-Hour Volume: $278.67M
  • 7-day Percent Change: -36.8%

XRP price has taken a beating. Plain and simple. There are no two ways about it. It has been an awful beating at that.

XRP price has fallen nearly 50% over the past month, shattering a key support level at the $0.43 zone and then accelerating lower in a waterfall decline that has outpaced most other large coins over the same period in terms of pure downside action.

At this point, the coin is still sporting the bare minimum as far as a bullish hourly MACD divergence. At the same time, support at the $0.28 level has been busted up pretty badly, opening the trapdoor to test the $0.25 level.

As we noted in our analysis earlier this week, the ultimate support here for XRP may possibly be found at the $0.20 level. In addition, traders should note that the 14-day RSI measure is now printing new all-time record lows, which may support a near-term bounce.

Stellar (XLM)

Price Analysis

  • High: $0.22276
  • Low: $0.19586
  • 24-Hour Volume: $112.46M
  • 7-day Percent Change: -11.38%

Unlike XRP, Stellar (XLM) has been managing to hold well above both its late June lows and late March lows. In other words, Stellar (XLM) has been a clear relative outperformer.

That said, we are also seeing selling here.

Everything is relative when you start to talk about asset class-wide analytics from a technical perspective. In this case, we tend to compare the large market cap coins against one another, and against Bitcoin. For Stellar (XLM), we have a clear case of relative strength that has been in place throughout the summer.

While we broke below the 50-day moving average, we haven’t broken under the bullish pivot formed in late June, which has been a clear reference point for many large-cap coins.

Our current read here is relatively promising given the devastation that we have seen across the complex.

However, one must admit that the larger time frame chart for Stellar (XLM) does appear to be a bearish descending triangle. In other words, bottom picking here – while supported by relative strength metrics – may not be for the faint of heart.

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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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