Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => XRP - Ripple Forum => Other Popular Cryptos / Coins => Ripple News & Updates => Topic started by: AMANPURI OFFICIAL INDONESIA on May 22, 2019, 02:04:37 AM
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XRP and Stellar lumens have been trading inside distinct trading patterns over the last few days and months. In addition, they are both preparing to move in different directions.
While both are trading near their respective support lines, the technical indicators reveal important differences. Bearish divergence in the RSI suggests that XLM may breakdown from its short-term trading pattern. However, XRP may have recently begun a new uptrend.
Stellar Lumens in a Symmetrical Triangle
The price of XLM reached a low of $0.115 on May 15. A rapid increase ensued and the price reached a high of $0.162 on May 16. The price has been decreasing since.
XLM/USD has since been trading inside the symmetrical triangle outlined below:
(https://3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com/wp-content/uploads/2019/05/XLM-Outlook-1.png)
XRP Inside a Broadening Wedge
Unlike XLM, XRP/USD has been trading inside a short-term ascending broadening wedge since May 17. On that day, a low of $0.356 was reached—generating the support line. Similarly, the resistance line was formed on the same day when a high of $0.382 was reached.
(https://3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com/wp-content/uploads/2019/05/XRP-Outlook-3.png)
The resistance and support lines have been touched four and five times respectively. At the time for writing, the price is trading very close to the support line of the wedge.
Upward movement toward the resistance line may be expected. At the same time, the price might fall—causing a breakdown.
Assessing Moving Averages
To better determine future price fluctuations for XRP, we analyze the cryptocurrency at one-hour intervals alongside the 100- and 200-period moving averages below:
(https://3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com/wp-content/uploads/2019/05/XRP-Moving-Averages-1.png)
source: https://beincrypto.com/xrp-uptrend-bearish-divergence-stellar-lumens-may-21-price-analysis-xrp-xlm/