- XLM breaks its trendline with a 25.20% surge to $0.4292, backed by strong volume and bullish RSI and MACD signals.
- XRP consolidates near $2.40 resistance, needing a breakout to confirm trend reversal, with mild bullish signals on RSI and MACD.
- XLM’s strong momentum suggests potential for further gains; XRP’s correlation with XLM may signal an impending breakout.
XLM has broken out of a downward trend. On the daily timeframe, XLM is having a bullish momentum, confirming a cross on the RSI. This price action has led to comparisons with XRP, which shares a structurally similar setup. At press time, XLM was trading at $0.4292, a 25.20% increase over the past 24 hours, while XRP increased by 14.90% to $2.40.
Breakout for Stellar Lumens
According to Cryptoinsightuk, XLM has decisively broken a descending trendline that started from its $0.76 peak in mid-November. This breakout is backed by an uptick in trading volume, suggesting strong market sentiment.
RSI movements indicate a potential momentum change toward bullish conditions. XLM had resistance at $0.38–$0.40, with the next targets at $0.50 and $0.76. Support levels are at $0.33 and $0.25–$0.29, offering safety in case of a pullback.
The RSI, at 43.51, indicates neutral sentiment but hints at growing bullish momentum. The MACD line crossing above the signal line also confirms this trend. Sustained volume and price stability above $0.38 could confirm further gains.
XRP Needs Confirmation for Trend Reversal
While XLM has broken its trendline, XRP remains within its consolidation zone. XRP is attempting to breach its descending trendline, which began from its recent high in December. Resistance is at $2.40, with potential upside targets of $3.00–$3.20 if momentum continues.
Support levels for XRP are seen at $2.00 and $1.40, with RSI at 51.33 hinting at mild bullish momentum. The MACD signal line is trending upward, aligning with recent price activity. However, XRP requires a strong breakout above $2.40 to confirm its reversal.
Market Movements and Correlations
On a four-hour timeframe, XLM’s breakout has an RSI increase to 72.77, nearing overbought levels. Key levels to monitor include resistance at $0.4321 and $0.45, with support at $0.40 and $0.37.
The MACD indicates strong bullish momentum, with rising histogram bars affirming upward trends. XLM’s relative strength compared to XRP may lead to bullish momentum for XRP as they go hand in hand.
XRP, consolidating between $2.00 and $2.40, shows lower volume levels than XLM, indicating market divergence. Cryptoinsightuk also emphasized that both tokens often move together, suggesting the market should monitor XRP as XLM is on an upward momentum.
