Stellar Lumens and XRP are long-time rivals. Most times, when you read Stellar Lumens news and XRP news that has to do with the two cryptocurrencies, it’s usually a competition. This is because the Stellar blockchain and the Ripple blockchain have similar characteristics and goals. Both platforms intend to reinvent the remittance space by offering fast and affordable access to money transfer services without the use of banks. The XRP price analysis is often in the same direction as the Stellar Lumens price prediction and most people who hold Stellar Lumens also hold XRP. Now, an expert on Beincrypto.com made a comparison between XRP and XLM regarding which cryptocurrency is the better for short trade setup.
Stellar Lumens Price Prediction – Stellar Lumens News Today – Stellar Lumens Vs XRP For Trade Setup
As stated above, the price action of Stellar Lumens and XRP are typically similar. However, things have changed in recent times. So, making profits from XRP doesn’t automatically mean you’ll also be making profits from XRP. Per our previous Stellar Lumens news, the price of Stellar moved as low as $0.072 in February but started increasing steadily since then. On the 10th of April, during the Bitcoin bull run, the price of XLM moved as high as $0.139. Again, XLM started decreasing gradually until it hit the support at $0.087 before the bulls showed up. The price of Stellar Lumens at the time of writing was $0.109087. This means that it is up by 8.69% against the USD and down by 2.50% against the price of Bitcoin. The trading volume over a 24 hour period is $679,394,413 and the market capitalization is $2,092,859,140.
Stellar (XLM) Price Today – XLM / USD
XRP spent the last few months in a descending trendline. On the 24th of December, it sold as high as $0.46. However, it started falling lower after then and hasn’t not been able to retest that level again. For more than a month, the price of XRP was stuck in a range of $0.28 to $0.32. Even when the price of Bitcoin and other altcoins were gaining against the USD, XRP was still stuck in this range. At the time of writing, the price of XRP was $0.386472. It was up by 20.45% against the USD and up by 7.72% against the price of BTC. The trading volume over a 24 hour period is $4,132,076,084 and the market capitalization is $16,283,343,595.
XRP Price Prediction 2019 – XLM Price Prediction – XRP News Today – Stellar Lumens News Today
Irrespective of the current price action of XRP, the analyst suggested that XLM is a better option for short trade setup because it broke out of an ascending trendline to validate the resistance while XRP broke out of its ascending trendline to come back and validate its support. For XLM, there is a 3:1 risk reward ratio for short trades but there isn’t any profitable trade setup for XRP now. Things are likely to change with the current bullish momentum XRP has gathered.
XRP (XRP) Price Today – XRP / USD
What do you think about the XRP news and Stellar Lumens news today? Is XLM better for short-term trades than XRP? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.