Sharp Decline in XRP and XLM Prices: Market Analysis Insights

user avatar

by Giorgi Kostiuk

2 years ago

Recent news warns of a potential major price plunge for popular cryptocurrencies XRP and Stellar XLM, echoing past market crises.

Historical Comparison

Last week, it was reported that XRP might face its largest crash since 2018, when it lost 85% of its value in three months. The current situation may not be as severe, but concerns remain. Stellar XLM is also at risk of a similar scenario.

Current Market Situation for XRP and XLM

XRP and Stellar XLM are known as competitors in the cross-border payments space, sharing similar roots as Stellar was co-founded by Jed McCaleb, one of Ripple's co-founders. According to Bollinger Bands, after a recent pullback, XRP prices might drop back to the median. A similar story applies to XLM: following a high of $0.6374, prices have been shifting towards the median value of $0.21.

Forecasts and Potential Risks

The Stellar token has already seen a 40% drop over the last three weeks, with its price now at $0.386. Looking back at 2021, a similar 45% dip might be on the horizon. However, predictions remain uncertain as broader market trends also influence its behavior.

Analysts are currently concerned about a significant decline in XRP and XLM cryptocurrency prices. Despite historical data, current market conditions may alter expected trends.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

eToro Reports Decline in Third-Quarter Net Income Amid Growing Funded Accounts

eToro reports a significant decline in third-quarter net income to approximately $15 million, down from $57 million last year, despite an 18% growth in funded accounts.

user avatarSon Min-ho

Bitdeer Achieves Record Revenue but Faces Major Losses

Bitdeer reported record revenue of $320.7 million for Q3 2023, an 89% increase year-over-year, but faced a net loss of $125.5 million.

user avatarAyman Ben Youssef

Bitcoin May Benefit from Greater Regulatory Clarity

Bitcoin may benefit from a more predictable US regulatory environment as the SEC shows interest in blockchain-based financial infrastructure.

user avatarKofi Adjeman

SEC Reports Significant Decline in Enforcement Actions

The US Securities and Exchange Commission (SEC) has reported a significant decline in enforcement actions, marking the lowest level since 1991, under the Trump administration.

user avatarTando Nkube

HTX Enhances Trading Fundamentals Amid Market Volatility

HTX enhances trading fundamentals amid market volatility by improving market depth and launching new promotions.

user avatarSatoshi Nakamura

HTX Completes Q3 Token Burn, Enhances Brand Influence

HTX completed its Q3 token burn, destroying approximately 939 trillion HTX tokens valued at around $154.8 million, and enhanced its brand influence at TOKEN2049 in Singapore.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.