XRP Defends Its Crown as XLM Loses Momentum

Tech

XRP Defends Its Crown as XLM Loses Momentum

A few days ago, U.Today wrote about the possibility of

Stellar token

XLM outperforming its main sector rival, XRP. The gist of the prediction was that XLM would see its price conquer the 200-day moving average against XRP at 0.2 XRP for 1 XLM.

However, this possibility ultimately failed to materialize. After being unable to maintain the above crucial price curve, XLM saw its prices fall against XRP, with the token losing over 10% in the last few days, now valued at 0.17 XRP.

Related

Stellar (XLM) and XRP have a lot in common, with Jed McCaleb cofounding Stellar after being a key figure in the creation of Ripple, which uses XRP extensively. The two have been competing for some time, with both trying to excel in blockchain payments.

While XRP is designed to serve banks and large corporations, Stellar is more focused on providing simple financial solutions for individuals.

XRP vs. XLM

As things stand, XLM is weaker than XRP in this area. However, these two assets are characterized by extensive performance against each other, with staggering pumps rotating with no less breathtaking dumps. This is definitely not the end of speculation that the Stellar token could show strength against its main rival.

Related

If we try to look at XLMs performance against XRP, we can see that the Stellar token gained 20% in the first week of January, and the recent plunge has only wiped out half of that growth, which can be seen as a healthy correction.

Given that the glass is half full for XLM enthusiasts, the token could start its rise against XRP from there. Thus, while the current situation looks to be more in favor of XRP, XLM should definitely not be written off the books.