XRP·Stellar, Direction Imminent…Where to Next?

▲ XRP (Ripple) VS Stellar (XLM) ©

XRP (Ripple) and Stellar (XLM) have entered a 'stagnation phase,' unable to find direction due to a lack of market conviction, despite indicators suggesting room for a rebound.

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

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

Technically, XRP appears to be confined 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 indicates a weak negative zone, suggesting a slowdown in upward momentum. The short-term support level is $1.30, and a break below it could open up a path to the $0.79 level.

Stellar shows a similar structure. Trading around $0.165, it remains below its 50-day, 100-day, and 200-day EMAs. The RSI is at 48, below neutral, and the 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.*