coinpedia.org
Will XLM outpower XRP?
Stellar price in the past couple of days experienced a drastic plunge which declined nearly 50% of the XLM price. However, in the early hours of trading, the price yet again enters the bull rally and touched the levels close to its previous ones above $0.30, but again suffered a rejection. Therefore dragging the price again below $0.3.
On the other hand, XRP price is also following a similar pattern as it also got rejected multiple times above $0.35. With the rejection, the price crashed more than 30%. Also the attempt to rebound also failed as it again got rejected close to $0.3. However, the plunge that dragged the price close to $0.25 rebounded gaining nearly 17% but again rejected.
At the time of writing, the XRP price is $0.29 and XLM price is $0.28 and both are poised to touch the targets set above $0.4. But if we consider the market cap, XRP is well ahead of XLM which may be flipped in the coming days if the bull rally speeds up.
Also Read: XRP Confidently Heading Towards the Target Set at $1, Will It Happen This Week?
Will XRP rebound or retest the lower levels?
The XRP price experienced a major roller coaster ride in the past month by surging to the yearly highs level close to $0.7. But unfortunately visited the $0.2 within a week. Yet another rally carried the price above $0.36 but yet again crashed back to the levels around $0.25.
The 4-hour pattern of XRP price has formed an M-shapped pattern. However, the technical indicators do not have a major forecast for the pattern, but if the previous chart of XRP is looked at then a possible downtrend can be expected.
Currently, it is very important for the XRP price to retest the resistance levels at $0.36 and avoid further slippage to follow a similar pattern as before.
Also Read: XRP to Thrive the Market After the Bitcoin Bull Rally Ends, Predicts an Analysts