The recent price action of Ripple ($XRP) and Stellar ($XLM) has been noteworthy, with both altcoins trading above their respective key resistance levels. According to on-chain data from CryptoQuant, the summary shows a neutral to bullish outlook for $XRP and $XLM. The spot markets for $XRP show large whale orders under mostly neutral conditions, suggesting a potential upside move.
On the derivatives side, the funding rates for both altcoins are positive, indicating that longs are paying shorts and sentiment is bullish. CoinGlass' OI-Weighted Funding Rate for $XRP flipped to a positive rate last week and has remained there, currently at 0.0003%. Meanwhile, Stellar's funding rate also turned positive on Monday, reading 0.0032%.
From a technical perspective, the price action of $XRP is trading above its 50-day Exponential Moving Average (EMA) at $1.41, with a mildly constructive momentum indicated by the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). The initial resistance for $XRP is seen at the 100-day EMA near $1.54, followed by the upper boundary of the descending parallel channel around $1.65.
In contrast, Stellar's price has found support around its 50-day EMA at $0.165 and is holding a constructive near-term bias as it stabilizes above this level. The momentum remains supportive, with the RSI hovering just below overbought territory and the MACD line tracking above zero.