Ripple (XRP) and Stellar (XLM) Both Surge 9%... Are Further Gains Signaled?

▲ 엑스알피(XRP), 스텔라(Stellar, XLM)/AI 생성 이미지 ©

XRP (Ripple) and Stellar (XLM) are continuing their upward trend after surging around 9% side-by-side. While the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) support the possibility of further gains, short-dominant signals have also appeared in the derivatives market, identified as a variable that could limit upward momentum.

According to the investment media outlet FXStreet on September 22 (local time), XRP is trading around $1.518 today after surging approximately 9% the previous day. XLM also recorded $0.2135 after rising over 9% the previous day. Both virtual assets are trading above their major Exponential Moving Averages (EMAs), and momentum indicators are improving, increasing expectations for further gains.

However, mixed signals have been observed in the derivatives market. According to Coinglass, the long/short ratios for XRP and XLM were 0.86 and 0.89 respectively, approaching their lowest levels in a month. A long/short ratio below 1 indicates that positions betting on a price decline are relatively dominant. Conversely, XRP's funding rate turned positive on September 18 and rose to 0.010% today, while XLM's also turned positive on September 16 and climbed to 0.011%. A positive funding rate, where long positions pay costs to short positions, indicates that bullish expectations are being maintained.

XRP's technical trend has leaned towards bullish. The current price is above the 50-day, 100-day, and 200-day EMAs, which are clustered between $1.274 and $1.358. The Relative Strength Index (RSI) is at 63, showing upward momentum without entering the overbought zone, and the Moving Average Convergence Divergence (MACD) has also turned positive, suggesting that buying pressure is regaining strength after a period of consolidation. If the upward trend continues, the next major resistance level is $1.900. Conversely, in case of a correction, the 200-day EMA at $1.358, the 50-day EMA at $1.315, and the horizontal support level at $1.300 are presented as defense lines. In the event of further decline, the 100-day EMA at $1.274 and the major structural support level at $1.000 are the next support zones.

XLM is showing a similar trend. The price is above the 50-day, 100-day, and 200-day EMAs, which are formed between $0.182 and $0.188, and the RSI has risen to 66. The MACD histogram also registered positive, supporting that the recent breakthrough is accompanied by actual buying demand rather than a mere temporary surge. In case of a decline, the clustered zone of the 200-day EMA at $0.188, the 50-day EMA at $0.184, and the 100-day EMA at $0.182 is considered a major support level. Furthermore, $0.177 is an additional support level, and if a larger correction occurs, $0.142 is suggested as a long-term support level. FXStreet analyzed that as long as XLM maintains above the key EMA zone, buying pressure is likely to defend against price declines.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*