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XRP Price Analysis
XRP had a more volatile trading since a 36% increase in its USD price recorded two weeks ago.
Its price went down last week but managed to find support at the point where the last highest was formed on the weekly chart.
The price has since risen this week but has met some resistance to the point where the last highest was $ 0.479.
Although the price has since declined, $ 0.418 has provided support from Thursday to Saturday this week.
While the price of the XRP has failed to exceed the high point of the last peak, the market structure is booming, with higher highs and lows since the price found support at $ 0.418.
The majority of this week was a consolidation of XRP over BTC.
The current candle training is the fifth consecutive small candle.
The price started the week with an increase of about 2.5% compared to BTC Monday and Tuesday, but has since declined slightly and is consolidating.
In the event of a rise, resistance should occur at 5540 satoshis (sats).
However, it is unclear whether the XRP will outperform or underperform BTC in the near term.
Stellar price badysis
During trading weeks, Stellar Lumens (XLM) did not close above the point where it peaked in December at $ 0.1422.
The price action met with many resistance at this level, but she also found support on a rising trend line that was forming.
This gives an upward triangle pattern that is a continuation of the uptrend pattern and increases the chances that XLM can test again and defeat the resistance at the December high.
Similar to XRP, XLM has consolidated its BTC price.
The current daily candle is becoming the fourth consecutive Doji candle, indicating high levels of uncertainty.
Nothing clearly indicates whether XLM is putting in place outperformance or underperformance in short-term price action, which is also the current scenario with XRP.
Points to remember:
- It is highly uncertain that XRP and XLM will outperform or underperform BTC in the near term.
- XLM forms an ascending triangle that increases the chance that its price will defeat the resistance at $ 0.1422.
- The XRP experienced more volatile trading with resistance coming in at $ 0.479 and support coming in at $ 0.418.
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