- XRP and XLM show bullish signals as on-chain data and derivatives point to growing buyer interest.
- Both assets hold key support levels, with potential for further upside if resistance levels are broken.
The crypto market is showing renewed strength, with XRP and XLM gaining attention after key technical and on-chain improvements. Both altcoins are trading near important levels, with data suggesting that buyers are slowly regaining control.
On-Chain and Derivatives Data Support a Positive Outlook
Recent on-chain data shows a shift toward a more favorable outlook for both XRP and XLM. Large whale activity has been spotted in spot markets, while overall conditions remain mostly neutral. This combination often signals accumulation, which can precede price increases.
In the derivatives market, sentiment has also improved. Funding rates for both assets have turned positive, meaning traders holding long positions are paying those holding short positions. This typically reflects growing confidence in higher prices ahead.
For XRP, funding rates have remained positive for several days. XLM has also followed a similar path, flipping into positive territory recently. These signals suggest that market participants are leaning toward a bullish scenario.
XRP Price Analysis Shows Early Signs of Recovery
XRP is trading around $1.42 after closing above its 50-day Exponential Moving Average at $1.41. This move is often seen as an early sign of recovery, though the broader trend still shows some weakness.
The Relative Strength Index is sitting near 55, indicating moderate buying strength. At the same time, the Moving Average Convergence Divergence indicator remains positive, supporting a gradual shift toward bullish conditions.
On the upside, XRP faces resistance near $1.54, followed by stronger barriers around $1.65 and $1.78. A break above these levels could open the path toward $1.90.
On the downside, support is seen at $1.41. If this level fails, the price could drop toward $1.30, with deeper support much lower.
XLM Price Holds Steady After Key Rebound
XLM is trading near $0.175 after bouncing from support at the 50-day EMA around $0.165. The asset is showing stability above this level, which is helping maintain a short-term positive outlook.
Momentum indicators remain supportive. The RSI is close to overbought levels at around 59, suggesting strong buyer interest. Meanwhile, the MACD indicator remains above zero, reinforcing the current upward bias.
On the upside, resistance is seen near $0.179. A move above this level could push XLM toward $0.201 and later $0.215, which marks a key medium-term barrier.
Support levels are found near $0.173 and $0.165. If selling pressure increases, the price could fall toward $0.153 or even $0.136.
What This Means for XRP and XLM
Both XRP and XLM are showing early signs of recovery, supported by improving on-chain activity and bullish derivatives data. While the broader trend has not fully reversed, current signals suggest further upside could materialize if key resistance levels are breached.
Traders will likely watch these levels closely, as a confirmed breakout could strengthen the case for a continued move higher.
ALSO READ: Bitcoin ETFs See $996M Inflows as Risk Appetite Strengthens in Markets
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
About the Author
