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When it comes to the rivalry between XLM and XRP, things are getting interesting. After a rough few months, Stellar’s XLM token may finally have reached a key low against its long-time competitor, XRP. With both coins striving for prominence in blockchain-based payments, this could mark an important shift — especially for XLM.
The connection between XRP and XLM goes back to the beginnings of both projects. Jed McCaleb, a key figure behind Ripple, also cofounded Stellar, making the two tokens share a similar origin. However, their paths have diverged since then.
Gamza KhanzadaevXRP is mostly focused on big banks and financial institutions, while Stellar is more about making financial services available to regular people. But the competition has been intense, with both trying to lead the way in cross-border payments and remittances.
Right now, XLM is worth about 0.13 XRP, which is a 1.5% increase over the last 24 hours. That might seem small, but it is part of a bigger trend. Back in November, XLM surged more than 185% from its yearly low.
What's next?
But then it took a nosedive, dropping 69% in just two months, which put the brakes on its upward momentum. Now, here is where things get interesting. Early indicators suggest that XLM might be setting up for a rebound, with signs that it could grow further.
Arman ShirinyanThe Relative Strength Index (RSI) has dipped below key support levels, which typically signals that an asset is oversold. In the past, whenever XLM has hit these low points, it has experienced rebounds of at least 14% against XRP.
While it is a long shot, XLM would need to rise 679% to reach a 1:1 ratio with XRP. It is not impossible. Just four years ago, XLM was trading at 1.7 XRP per token, showing that big gains can happen.
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.
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