on the crypto
The first quarter of 2020 ended with a massive drop in both the crypto and equity markets. The coronavirus pandemic has caused strong fears of major losses, and this has prompted many to cash in in an attempt to save the value of their investments. Since then, however, many of the crypto projects have seen a notable recovery, while some have not been nearly as lucky.
Stellar and Ripple
Stellar (XLM) has been seized by a strong bullish trend in the past few days and the momentum of the cryptocurrency is showing no sign of slowing down. This allowed him to significantly surpass XRP, which is considered by many to be one of its main competitors.
Analysts are now noticing that this ongoing XLM bullish trend is partly driven by the growing hype from investors, as an indicator suggests that its social volume has seen a huge increase in the past few weeks.
As for whether it will continue to outperform XRP in the short term, it appears that Stellar's bulls are much stronger than those who support the token associated with Ripple. An analyst is also noticing that XRP's price may drop another 50% before it can find strong support.
Stellar (XLM) sees intense Upswing and overcomes XRP and Bitcoin
In the past month, Stellar has been hit by an intense bullish trend. This allowed him to climb from the lows of $ 0,06 at the end of June to the highs of more than $ 0,10 today. XLM is now trading just over 1% at its current price of $ 0,104. If you wish invest in crypto, you can take a look at our guides.
A factor that helped drive this movement was a massive influx into the asset's social volume. According to data from the Santiment analysis platform, the recent Stellar rally occurred shortly after a surge in activity in the discussions on cryptocurrencies on social media platforms.
Santiment expressed himself on this point in a recent tweet, adding that this social activity indicates the possibility that further volatility is imminent. “Today XLM decoupled from BTC and was a strong point on a predominantly flat day for altcoins. The social volume hit a high of the last 8 months last week, prefiguring this run-up, "he noted.
XLM is likely to continue to outperform XRP
This recent dynamic has allowed XLM to break the strong correlation it had with XRP. This represents a significant possibility that Stellar will continue to outperform the sou token in the days and weeks ahead.
Recently, an analyst predicted that XRP will drop 50% before finding strong support. "General thoughts on XRP: I don't think this is swelling without a solid foundation and for now I don't see anything in the calendar."
Stellar and Ripple are two of the industry's most popular cryptocurrencies. Users often compare them because they have the common goal of stopping cross-border financial payments.
