As a seasoned researcher with a keen interest in cryptocurrencies, I’ve witnessed quite a rollercoaster ride in the world of digital assets. Last Sunday’s U.Today report about XRP‘s potential nosedive brought back memories of the 2018 crash that shook the crypto universe.
Last Sunday, U.Today shared an update that the value of the widely-used cryptocurrency XRP appears poised to plummet significantly. This potential drop would mark a dramatic decline not seen since 2018, when it suffered a loss of approximately 85% in just three months. Contrary to expectations, this situation may not be as risky for XRP, but there could be more extensive consequences than initially anticipated, as the Stellar (XLM) token’s price seems to be heading towards a similar downturn.
As a crypto investor, I’ve always viewed Stellar and XRP as rivals in the realm of cross-border transactions. They share a common history; Stellar was established by Jed McCaleb, who also launched Ripple. In the blockchain payments sector, they’re frequently vying for market share, which means that XLM’s price fluctuations have often mirrored those of XRP.
Based on Bollinger Bands analysis, following a significant rise over the past few weeks, the value of XRP has reached its peak at the upper band, suggesting it might soon revert to its average level.
In the case of XLM, a pattern that occurred before is repeating itself. The peak was surpassed at around $0.6374, but the middle line, or the 20-day moving average, stands at approximately $0.21. Reminiscent of 2021, the price of XLM spiked up to $0.797, only to plummet by a significant 48.73% within a single week following that peak.
As a crypto investor, I’ve observed a significant 40% decline in the value of Stellar token over the past three weeks, with its current price sitting at $0.386. While this trend might suggest a potential 45% further drop, it’s essential to remember that what transpired in 2021 is not necessarily indicative of the future. The price fluctuations of XLM will continue to be influenced heavily by broader market trends rather than past experiences.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- Fantom Price Rebounds As Sonic Chain Hit $100M TVL Milestone
- IMX PREDICTION. IMX cryptocurrency
- Sakamoto Days: Is The Animation Really That Bad? (Clickbait Title)
- RSR PREDICTION. RSR cryptocurrency
- SWFTC PREDICTION. SWFTC cryptocurrency
- Squid Game’s Shocking End: Fan Theories That Will Churn Your Stomach!
- Naruto: Kishimoto Reveals His Favorite Akatsuki Member
- How Indiana Jones and the Great Circle Projects Indy’s Dual Nature
2024-12-25 18:05