Ripple ($XRP) and Stellar ($XLM) off and running again

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As a seasoned researcher with years of experience observing the cryptocurrency market, I find myself both intrigued and cautious about the current performance of Ripple ($XRP) and Stellar ($XLM).

Before Bitcoin ($BTC) takes a breather in its ascending trend, Ripple ($XRP) and Stellar ($XLM) are already stealing the spotlight. How high might they soar?

$XRP breaks out

Currently, XRP is experiencing a significant surge in value. As illustrated in the graph provided (4-hour timeframe), it has broken through once more, suggesting a potential new local peak could be reached. The upward trend remains strong, and thus far today, XRP has gained over 9%.

Stochastic RSI signals caution for $XRP

Looking at a two-week timeline, you can clearly observe an impressive price spike in XRP. However, it’s important to note that the current level of the 2-week Stochastic RSI for XRP has only been reached once before, which was back in 2014. Therefore, anyone investing or trading in XRP should exercise extreme caution.

$XLM breaks out but hits resistance

Based on the daily chart displayed, XLM has surged past its previous levels, but there are signs that it might be facing resistance near the 0.382 Fibonacci level. If it manages to push higher, potential future price points lie at the 0.618 level around $0.52 and the 0.786 level approximately at $0.57.

Can $XLM reach its all-time high of $0.80?

Looking at a weekly perspective, it’s apparent that the XLM price dropped to touch the 0.382 Fibonacci level around $0.35. This drop appears to be healthy and may signal further price increases ahead. The levels of 0.786 and previous peak stand at $0.64 and $0.80 respectively, serving as potential resistance points.

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2024-12-17 15:06