XRP vs Stellar Lumens [XLM] Price Analysis: Altcoins continue to dump as king coin pumps

XRP and XLM have seen better days and can definitely do better, considering Bitcoin’s rally failed to push its prices up considerably. Almost every altcoin, including XRP and XLM, are failing to pump, even though Bitcoin breached the $6,000-level. This might imply that the correlation between Bitcoin and altcoins has been severed.

The price of XRP was $0.30 and it had a market cap of $12 billion, at press time. XLM was priced at $0.096, with a market cap of $1.75 billion.

XRP

Source: TradingView

Support 1: $0.3069
Support 2: $0.2587
Resistance 1: $0.5836
Resistance 2: $0.6880
Resistance 3: $0.9041

The Aroon indicator showed the Aroon red-line heading to the top, which indicated increased strength of the downtrend. This also indicated an overall bearish trend.

The Chaikin Money Flow indicator was below the zero-line, which indicated that the outflow of money was greater than the influx, which is a bearish indicator for XRP.

The Relative Strength Index showed that the momentum was skewed towards the sellers.

XLM

Source: TradingView

Support 1: $0.0964
Support 2: $0.0742
Resistance 1: $0.1239
Resistance 2: $0.1901
Resistance 3: $0.2796

The Aroon indicator showed a bearish downtrend for XLM, similar to XRP. The uptrend tried to take over the downtrend, but failed midway.

The Chaikin Money Flow was dipping significantly, indicating a strong outflow of money.

The Relative Strength Index for XLM almost hit the oversold zone, indicating selling pressure for XLM.

Conclusion

Both XLM and XRP were in a predominantly bearish territory as indicated by the Aroon, CMF, and RSI indicators.

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