Stellar (XLM) has shown an impressive 5% increase over the past 24 hours, standing out among other cryptocurrencies, including XRP. This news has drawn the attention of traders and investors amid expected market changes.
Overview of Stellar's Growth
As of now, Stellar (XLM) is trading at $0.25. Over the past 24 hours, its price has increased by 5%, making it a significant indicator in the cryptocurrency market. XLM has steadily rebounded from a low of $0.222 recorded on July 1.
Comparison with XRP
XRP, on the other hand, has also shown a slight increase of 0.59%, rising to $2.28, but its dynamics have started to diverge from XLM. Previously, both cryptocurrencies moved in tandem due to their shared origins and similar goals in international payments. However, this correlation is currently on hold.
Technical Analysis and Forecast
The movement strategy of XLM remains range-bound as it trades below its 50-day moving average at $0.26. A breakout above this level could open the path to the 200-day moving average at $0.307. Currently, the RSI is just above the 50-point mark, indicating a potential consolidation ahead.
The rise of Stellar (XLM) and the divergence in dynamics with XRP suggest possible changes in the cryptocurrency market. Traders should closely monitor ongoing price movements and adjustments.
