The next scenario is for XRP and XLM prices when Bitcoin is showing weakness

While Bitcoin is currently showing weakness with a recent pullback from $ 7,500 to $ 6,900, the XRP price remains relatively stable as the XRP / BTC pair shows strength.

However, not only does XRP price show stability, XLM prices are also showing stability. Will the relationship between the two currencies continue?

The XRP / BTC pair has regained important support

As shown in the chart, the red price zone of 2,500 to 2550 satoshi is an important support level for XRP to reclaim and maintain any upward momentum. On March 25, the price plummeted below this zone and touched 2360 satoshi. However, the bulls reclaimed the area explicitly in the following 2 days.


Daily XRP / BTC chart | Source: TradingView

This is the first step for some bullish momentum in the past few days. The next important step will be a test to confirm the red zone is support again. If successful, the price may rise sharply the next day.

Overall, the price of XRP is stuck in a range from 2350 satoshis to 3300/3800 satoshis, as prices have been fluctuating around this area for the past ten months.

It is worth noting that the XRP / BTC pair is priced at the equivalent of a month ago, just before the major Bitcoin crash. This shows that the XRP price is stable and unaffected by Bitcoin movements and this could be a sign of XRP's bottom formation.

Investors over the years can recall the good times, when XRP had an inverse relationship with BTC. As the price of Bitcoin began to decline, the XRP / BTC pair began a sharp rally. This inverse correlation could come back and become clear in the coming period - a time when Bitcoin continues its downtrend.

The XRP / USDT pair has reached an important resistance level


Daily XRP / USDT chart | Source: TradingView

The XRP / USDT pair is facing a strong price zone, which is the last support area before the significant decline of Bitcoin occurred on March 13. This resistance area is highlighted in red on the chart and at between $ 0.20 - $ 0.22.

As for the upside momentum, a retest of this zone will provide a solid support so that the price can continue towards the range of $ 0.28 - $ 0.30, which is considered a next strong resistance area. follow.

However, a support found at the price zone around $ 0.177 will also be a confirmation of the continuation of the upward move. This area is equivalent to Bitcoin's $ 6,750-6,800 area. But losing the green zone will imply that XRP will test support levels from $ 0.144 - $ 0.158.


Weekly XRP / USDT chart | Source: TradingView

Weekly charts are an important factor in this. A weekly close above the resistance (red area) will create a great opportunity for the price to rise to the next resistance around $ 0.30.

However, if the XRP closes the weekly candle with a pin bar candle reacting to this zone, it will show weakness and it is likely the price will drop to retest the support zone at $ 0.154 a. Again.

As the chart is showing, the $ 0.154 area is a crucial support level for XRP. If this level is lost, a huge drop to the next strong support zone at $ 0.06 is possible. And this will put XRP investors in depression mode.

XLM, the currency is said to be a pair of cards with XRP

XLM has been moving in correlation with XRP recently, when XRP fluctuated, XLM also fluctuated.


Daily XLM / BTC chart | Source: TradingView

The XLM chart is showing the same structure as XRP. For nearly a year, prices have also moved in a wide range, and the critical support area was found at 550 - 610 satoshi.

The strong resistances of this range are found at 810 - 820 satoshi and 880 - 910 satoshis. A breakout above these levels will be the premise for moving up to the 1400 - 1500 satoshis zone. However, to achieve that, the price of XLM must first overcome the current resistance level at 700 satoshi.

It is worth noting that the XLM price is also holding a reasonable increase in the BTC pair, despite Bitcoin's recent sharp decline. The price of the XLM / BTC pair is also equal to the price of the previous month, the time before the earthquake took place on March 13.

Similarly, if XLM holds the highlighted green area (about 600 satoshis) as support again, then a sharp up move will be followed.

The XLM / USDT pair needs to turn the $ 0.04 zone into support


Daily XLM / USDT chart | Source: TradingView

The XLM / USDT chart is showing clear rejection at the $ 0.053 resistance level, which implies that lower levels must be tested to confirm support before rebounding.

The area to look for is the highlighted green area around $ 0.04-0.042. If the price succeeds in turning this level into support, the bulls will gain momentum, and a rally to the zone of $ 0.075-0.095 will be expected. This area is the next important area to watch. A breakout above this zone will stimulate a long-term uptrend for XLM.

However, the loss of green zone support will put XLM under more selling pressure, and the price may drop to $ 0.03, and this will also make XLM investors fall in love. Depressed state.

You can see the price of XLM and XRP here.

Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


According to Cointelegraph

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