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▲ XRP, Stellar (XLM)/AI generated image ©
XRP (Ripple) and Stellar (XLM) are giving back recent gains and wavering in front of key resistance levels. XRP has fallen for three consecutive days, dropping to the $1.47 level, and XLM has failed to break past $0.234. Meanwhile, derivatives and on-chain indicators simultaneously show sell dominance and market overheating signals, warning of further potential corrections.
According to investment media FXStreet on September 29 (local time), XRP traded at $1.469 on Tuesday after falling for three consecutive trading days since last week. XLM was pushed back from the $0.234 resistance level, trading at $0.224. Mixed signals appeared in the derivatives market. According to Coinglass, XRP's Long-to-Short Ratio was 1.02, indicating slightly dominant bullish sentiment, but XLM's was 0.76, nearing its lowest level in the past month, indicating bearish sentiment.
Funding rates remained positive for both assets. XRP's funding rate turned positive on the 24th and recorded 0.0020% on Tuesday, while XLM's recorded 0.0083% since turning positive on the 14th. While the fact that long positions are paying short positions suggests lingering expectations for a rise, on-chain indicators pointed to a more cautious trend. According to CryptoQuant, overheating signals appeared in the XRP spot and futures markets, and sell dominance was confirmed in the futures market. XLM also saw large whale orders in the spot market, but sell dominance and overheating signals appeared simultaneously in the futures market.
Despite short-term corrections, XRP maintains a medium-to-long-term technical uptrend structure. The current price is above the 50-day Exponential Moving Average (EMA) of $1.365 and the 200-day EMA of $1.369, with the 100-day EMA also supporting the bottom at $1.307. However, the RSI (Relative Strength Index) has fallen to a neutral level of 53, and the MACD (Moving Average Convergence Divergence) has flattened near the zero line, suggesting short-term consolidation rather than a strong resumption of the uptrend. In case of a fall, the area around $1.37 is the first support zone, and if that breaks, $1.307-$1.300, and in a deeper correction, the psychological support level of $1 could open up. Conversely, if it breaks above $1.574, there is potential for a rise towards the next resistance level of $1.90.
XLM is facing resistance at $0.234, but its technical uptrend remains relatively robust. The price is above all 50-day, 100-day, and 200-day EMAs, which are clustered around $0.187-$0.193, and the RSI is at 62, maintaining upward pressure without entering the overbought zone. The MACD also remains in the positive territory, indicating that buying pressure still dominates. A break above $0.234 could strengthen the existing uptrend, but in case of a fall, the 200-day EMA at $0.190 and the 50-day EMA at $0.192 are considered the first lines of defense.
Ultimately, both XRP and XLM maintain a medium-to-long-term upward structure, but short-term, they have failed to break through resistance levels, weakening their upward momentum. XRP needs to confirm its direction between the $1.37 support and $1.574 resistance, while XLM's ability to break through $0.234 is a key variable for further gains. In particular, the sell dominance in the derivatives market and on-chain overheating signals are limiting upward potential, so if key support levels break, the correction pressure could intensify.
*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.*
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