Ripple ($XRP) and Stellar ($XML) front-run the crypto resurgence

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As a seasoned researcher with over a decade of experience in the cryptocurrency market, I’ve witnessed the ebb and flow of digital assets like Ripple ($XRP) and Stellar Lumens ($XML). The current bull run is reminiscent of the exuberance seen during previous market cycles.

As Bitcoin ($BTC) edges closer to the $100,000 mark, the crypto market is experiencing a surge in growth. Notably, Ripple ($XRP) and Stellar ($XML), two digital currencies from past bull markets, are leading this revival.

$XRP breaks through a 7-year downtrend

The weekly chart for XRP (XRP/USD) shows a highly encouraging pattern. The downward trend from as far back as 2018 was recently broken, tested, and confirmed to be above it.

At present, the price seems to be encountering a barrier, but should it manage to break free, its next potential peak could reach around $1.96. Beyond that lies its all-time high at approximately $3.30.

$XRP still 94% down against $BTC

As a researcher, I’ve been tracking the performance of XRP, and it’s impressive to see its growth against the US Dollar. However, when compared to Bitcoin (XRP/BTC), it’s still down by approximately 94% from its peak in 2017. A long descent is evident on the monthly chart, but a recent large price movement has brought us back to the descending trendline. If XRP manages to breach this resistance, a significant barrier at 0.0000155 sats will be encountered next. The Stochastic RSI indicates that XRP is gaining positive momentum.

$XLM  spikes 227% in only three weeks

Over the past three weeks, the value of XML has surged by an impressive 229%, marking a significant shift after three consecutive years of stagnation or decline. According to Fibonacci analysis, the price might touch $0.35, which represents the 0.382 level. However, the Stochastic RSI momentum indicator suggests that this upward trend could soon be nearing its end.

Can $XLM break its long downtrend against $BTC?

Similar to XRP, the XLM/BTC pair has been following a prolonged descent. So far, XLM has retraced approximately 94% against BTC. The upward movement for XLM is nearing its approach to the downward trendline. For the trend to change, first the trendline needs to be broken, and then a new high at 0.000006 should be reached.

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2024-11-22 15:09