XRP and Stellar Lumens [XLM] Start to Increase Against Bitcoin After Months of Declines [Price Analysis]

Ripple XRP and Stellar Lumens [XLM] technical analysis for 19th May 2019. After a volatile week of trading, XRP and XLM are recording increases in terms of their BTC value. We identify the key levels to monitor for future price action.

XRP / USD Weekly Chart

The markets have wrapped up a volatile week which saw the market leader Bitcoin record lows of $6180 and highs of $8390.

XRP has spent the majority of 2019 consolidating around $0.30.

Numerous Doji candles at $0.3 have been formed on the XRP weekly chart in 2019 with XRP experiencing buying pressure around $0.28.

This week’s USD movements have recorded the most bullish movements in XRP so far this year, and the price has managed to surpass the point where the previous highs formed.

XRP / USD Daily Chart

Price formed highs of $0.47 this week but started declining from Thursday to Saturday.

The price found buying pressure at the level of former highs at $0.368 and is recording an increase today.

XRP / BTC Weekly

XRP declined for ten consecutive weeks in terms of BTC value.

This is the first week to break that trend.

The price managed to find buying pressure at the 4179 satoshis (sats) level, an area where buying pressure was found in September 2018.

XRP / BTC Daily

XRP recorded the appreciation against Bitcoin only on Tuesday and Wednesday.

Price appreciated 11.55% over these two days but has since started to decline.

After three consecutive days of declines from Thursday to Saturday, the price is forming a Doji candle today reflecting uncertainty regarding future price prospects.

The price found some selling pressure at the 5540 sats level on the increase earlier in the week.

Stellar (XLM) / USD Weekly Chart

Stellar lumens (XLM) has been recording more volatile movements than XRP over the past few months.

Similar to XRP, it recorded a significant appreciation this week in USD price.

Stellar (XLM) / USD Daily Chart

The price managed to form a high at $0.163 but has since retraced below to a level below a high formed in December.

This level is currently acting as resistance with price action testing the level both today and yesterday.

Stellar (XLM) / BTC Weekly

Similar to XRP, XLM had been recording depreciation in Bitcoin value for numerous weeks.

Last week was XLM’s sixth consecutive decline recorded on the weekly chart.

Stellar (XLM) / BTC Daily

XLM recorded appreciation in BTC value from Tuesday through to Saturday.

It has since met resistance at the 1831 sats level and is currently recording a decline in BTC value today.

The price has already tested this level twice this week and another retest would have a high probability of breaking above.

Key Takeaways:

  • XRP ends a long period of consolidation close to the $0.3 level and records movements which break above former highs.
  • Both XRP and XLM record increases in BTC value after weeks of declines.
  • Both XRP and XLM found levels of selling pressure during their appreciation in BTC value.

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