Stellar (XLM) rises 18% to beat XRP in the Bullish March Start

Stellar (XLM) experienced a remarkable climb and deployed 18% on the first day in March. At the time of the letter, Stellar (XLM) rose by 18% to $ 0.302 after reaching intraday highs of USD 0.3086, which increased the back rim on Friday from $ 0.252.

This increase made it possible to exceed XRP in the recent performance, which indicates a positive start to the month. XRP, the fourth largest cryptocurrency, rose by 12%during this period to act at USD 2.15.

While XRP was also recovered significantly after the Rout market on Friday, it did not match the most recent dynamics of XLM.

The most recent increase in XRP and XLM prices takes place in a Bärische Week for the crypto market, which recorded significant liquidations. On Monday, a serious sale in various crypto assets led to almost $ 1.5 billion in liquidations. The bear was on Friday with an additional 952 million US dollars of liquidations, which emphasized the most recent volatility of the market.

The sale was triggered by external factors, including macroeconomic uncertainties that dampened the mood of the investors. These conditions triggered a rapid devaluation of several cryptocurrencies, which led to forced liquidations when edge calls were triggered.

Stern (XLM) Price action

In January, XLM took back the daily SMA 50 and 200 at $ 0.372 and $ 0.253, where it is currently.

An interruption over or below the daily average values ​​of 50 and 200 would mean the trend of the next directions. While the eyes are on the next star trends, according to Ali, the cryptocurrency forms a bullish flag that could trigger a massive outbreak. A bull flag is a trading diagram pattern that forms within an upward trend during a consolidation period. The same bullish flag pattern was discovered on XRP, which led to an increase of over 500%, in which the price of mid -January achieved a seven -year high of USD 3.39.

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According to Ali, Stellar can see a similar increase in the event of an outbreak, which requires an increase of 330% to 2 US dollars. On the contrary, when the bear pressure returns to the market, Stellar (XLM) could find support between USD 0.23 and 0.20.