Without even waiting for Bitcoin ($BTC) to even pause in its upward trajectory, both Ripple ($XRP) and Stellar ($XLM) are putting on a show. How far can they go?
$XRP breaks out
Source: TradingView
$XRP is on quite some wild ride to the upside. As can be seen in the 4-hour chart above, the price has broken out again, and another local high might be on the way. The uptrend is holding nicely, and $XRP is up over 9% on the day so far.
Stochastic RSI signals caution for $XRP
Source: TradingView
Zooming right out into the 2-week time frame, the almost ridiculous price surge from $XRP can be seen in all its glory. However, one must be aware that only once before has the 2-week Stochastic RSI for $XRP gone this high, and that was back in 2014. The utmost caution should be employed by anyone holding or trading $XRP.
$XLM breaks out but hits resistance
Source: TradingView
$XLM has broken out, as seen in the daily chart above, although the price looks as though it could be rejected from the 0.382 Fibonacci. If it is able to continue upwards, further targets are the 0.618 at $0.52, and the 0.786 at $0.57.
Can $XLM reach its all-time high of $0.80?
Source: TradingView
On the weekly time frame it can be seen that the $XLM price has been down to confirm the 0.382 Fibonacci at $0.35. This was a healthy move and the price may continue to rise from here. The 0.786 is overhead at $0.64, and the all-time high is at $0.80.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
