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The latest move in the ongoing rivalry between Stellar (XLM) and XRP saw the former hit an all-time low against its competitor. After XLM failed to hold the key price point of 0.15 XRP, it suffered a big drop, losing over 8% in a single day and 29% since the start of the week. Right now, XLM is trading at 0.135, which is the lowest it has ever been against XRP.
This is not the first time XLM and XRP have been in the news. They both go back to the days when Jed McCaleb was involved in the creation of Ripple, before he cofounded Stellar. Since then, they have each gone their own way in the blockchain world.
Arman ShirinyanXRP is mostly for big banks and companies, but Stellar tries to make financial services more available to people. But even though they are different, both tokens have been fighting for the top spot in blockchain-based payments.
Right now, XLM seems to be falling short. Compared to XRP, the Stellar token is not as strong, but that does not mean the competition is over. These two assets have been all over the place. Prices are swinging back and forth, and some folks still think XLM might outperform XRP.
Alex DovbnyaOne of the main indicators that traders watch for these price movements is the RSI (Relative Strength Index). In the past, whenever XLM reached a low point on the RSI compared to XRP, the token usually saw a big price increase.
For example, in November, XLM surged by over 600%, climbing as high as $0.64, while its value against XRP rose by 165% to 0.427 XRP. Right now, the RSI for XLM/XRP is sitting in the middle, which suggests that the price might go up or down in the near future.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov