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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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