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XRP and Stellar Lumens [XLM] continued to drop in valuation as the prices continued to go under market corrections. XRP, the third largest cryptocurrency, experienced a brief price hike of 1.16 percent over the 24-hour period but the decline rate over the last seven day was around 8.02 percent.

Stellar’s XLM was priced at $0.115 at press time and the trading volume recorded about 230 million. XLM also experienced a significant decline rate over the past seven days with a devaluation of 8.13 percent. However, the token witnessed a positive growth of 1.40 percent over the last 24 hours.

XRP one-day chart:

Source: Trading View

The one-day XRP chart witnessed a price drop as the valuation fell from $0.3529 to $0.3289. The resistance line before the hike scaled at $0.3409, and the support line remained at $0.291. The price showed sideways movement between the aforementioned lines before a new resistance line of $0.367 was established.

The Bollinger Bands indicated a volatile period for the token as the markers implied on a parallel course.

The MACD indicated a bearish crossover and the histogram showed bars that remained prominently below the red line which pointed towards the continued bearish trend in the market.

The Fisher Transform remained fairly bearish for the token as the red line hovered above the blue line.

XLM one-day chart:

Source: Trading View

The XLM one-day chart pointed towards the decline of valuation below the support line of $0.1009, followed by the price surge. The price showed downtrend after the pump which extended the valuation from $0.1355 to $0.1157. The resistance line for the token remained at $0.135.

The Parabolic SAR indicated a continued bearish trend for the token as the marker remained well above the candlesticks.

The Relative Strength Index or RSI implied complete neutrality between buying the selling pressure in the market.

The Awesome Oscillator or AO exhibited a bearish trend but at press time, the momentum had dropped significantly.

Conclusion:

XRP and XLM had dealt with price devaluation over the long term and the signs of immediate recovery were indefinite according to the indicators.

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