Crypto Money Analyst and Trader Ali Martinez released a new technical analysis and announced that XRP’s rival Stellar (XLM) formed a ‘Taurus Flag’. In this context, the analyst says that Altcoin is preparing for a strong run.
Analyst foresees a bull run for this crypto currency!
Ali Martinez shared that XLM formed a bull flag with a potential breakage targeting $ 1.80 ”. This formation occurs when the price of an asset starts to be consolidated (or slightly moving down) before aiming to rise further after a sharp rise. During this consolidation, the market takes a breath and the traders begin to receive their profits. Ali Martinez is waiting for XLM to start the explosive run soon.
Some people in the commentary series, when it comes to market movements XLM’nin XRP, he noted. Kriptokoin.comAs you have followed from the SEC, on Friday, the XRP ETF and Dogge ETF offered by Grayscale accepted applications. After that, XRP experienced a 10 %rise. Parallel to XRP, XLM increased by more than 8 %. In this process, XLM reached $ 0.366, the highest daily level. However, the token price later lost the altitude and so far has decreased to $ 0.358.
The establishment of Stellar and its history with Ripple!
Stellar (XLM) in 2014, Ripple founding partner and then MT. It was founded by former CTO Jed McCaleb, which also created a GOX platform. McCaleb chose to leave Ripple due to some disagreements with the company management on the way to follow in the future. Ripple and XRP focus on transnational payments for banks and financial institutions, while Stellar aims at the same aspect for users without individual banks. McCaleb received 4.7 billion XRP in exchange for his contributions as the founding partner and CTO of Ripple. Between 2014-2022, these XRPs sold small amounts in small amounts to avoid lowering the price of XRP.
BTC and ETH started to rise in the crypto money market
The price of BTC has increased slightly above 1 %in the last 24 hours and reached $ 97.839. Crypto money’s bottom and peak point was $ 96,342,81 and $ 9819.47, respectively. In particular, BTC has recorded liquidation worth $ 38.57 million in the last 24 hours. 25.45 million dollars of them came from Short positions. Simultaneously, the ETH price increased by 1 %during the day and now rose to $ 2,725. The lowest 24 -hour and highest price of the crypton was $ 2,680,03 and $ 2,790.02, respectively. Ethereum recorded a little more than $ 27 million and remained in $ 14,53 million short positions.