The purpose of both Ripple (XRP) and Stellar (XLM) is to ensure that money transfers occur at low costs and at high speeds. At this point, Ripple is focusing more on the banking sector, while Stellar is focusing on areas that are not financial institutions in the world.
So, does Ripple or Stellar have the potential to experience more upside in June?
Charts in XRP Give a Bullish Signal
XRP experienced a major pullback in the second half of May due to the impact of the decline, which was also seen in the entire market. After the XRP price retreated to $0.65, it managed to see above $1 again today with the support generated here.
In addition Ripple, March April 2018 was trading below the levels prior to the bullish movement that began in March. With momentum starting in March, on April 14 XRP price he saw $1.96. According to analysts, the $0.65 band has proven to be a strong support in XRP, and it’s time to break the accumulation phase upwards.
Technical indicators, according to analysts, still provide an bullish outlook. Although the RSI is above 50 in the statements made and the MACD has created several low momentum bars, it still signals a bullish signal because there has been no bearish close.
Due to all these reasons Ripple priceit is believed that the weekly indicators of the nda signal an uptrend, and the nearest resistance is at $ 1.70, followed by $ 2.07. In addition, it is stated that 1.70 is the main resistance in the 1.46 dollar band before the 1.70 dollar, and it is stated that it is necessary to break this level strongly in order for the 1.70 and 2.07 dollars to be seen.
Signals are Mixed in XLM
According to the weekly charts XLM as with the entire market and Ripple, it showed a serious downward trend in the second week of May. The price of XLM, which declined to $ 0.27 during the general retreat, managed to rise above the significant level of $ 0.32 in a short time.
However, according to analysts’ statements, despite the rise in XLM, a neutral-bearish signal is being received on technical indicators. The RSI is below 50 and the MACD is also signalling a decline. For the moment, due to the neutral-bearish signal Stellariatechnical indicators regarding the direction of the do not indicate a clear direction.
According to analysts’ statements, a falling wedge formation may be forming in XLM at the moment. Currently, the price is located on the support line of the formation, which coincides with the previously outlined support area of $ 0.325. However, according to analysts, this may not be the case, as the model has not been sufficiently tested.
In addition to all these statements, XLM Bitcoin it is stated that it is gathering strength in the face, and this is a clear signal of an increase. Therefore, according to analysts, this situation can turn the indicators of the neutral-bearish signal into an upward signal.