XRP and Stellar, direction imminent... Where next?

▲ XRP (Ripple) VS Stellar (XLM) ©

XRP (Ripple) and Stellar (XLM) have entered a 'stagnant phase' where they are unable to establish a clear direction, despite showing potential for a rebound based on indicators, due to a lack of market conviction.

According to investment media outlet FXStreet on April 28 (local time), XRP has continued its downward trend after falling below the 50-day exponential moving average of $1.41, trading around $1.40. Stellar is also remaining below its key moving averages, with downward pressure persisting.

Market sentiment is mixed. According to CryptoQuant data, large whale orders have been detected in the XRP spot market, suggesting some upside potential, but overall indicators remain at a neutral level. Most indicators for Stellar also show neutrality, with investors awaiting a clear direction.

A more cautious atmosphere is observed in the derivatives market. According to Coinglass, the long/short ratios for XRP and Stellar are 0.88 and 0.87 respectively, both below 1, indicating more bearish bets. However, funding rates have turned positive for XRP at 0.0044% and Stellar at 0.0004%, maintaining some demand for long positions. These conflicting signals are interpreted as reflecting a lack of investor conviction.

Technically, XRP appears to be trapped within a downward channel. The 50-day EMA at $1.41, 100-day EMA at $1.52, and 200-day EMA at $1.75 are acting as consecutive resistances, and the Relative Strength Index (RSI) is moving below 50. The Moving Average Convergence Divergence (MACD) also shows a weak negative zone, indicating slowing upward momentum. The short-term support level is $1.30, and a break below could open the way to the $0.79 range.

Stellar has a similar structure. It is trading around $0.165, remaining below the 50-day, 100-day, and 200-day EMAs. The Relative Strength Index (RSI) is 48, which is below neutral, and the Moving Average Convergence Divergence (MACD) has turned negative, signaling bearishness. Short-term resistances are presented at $0.167 and $0.178, with support at $0.146.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*