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.
