Pi Network - auto mobile mining: Join now and be one of the pioneers!!

Blog

Stellar is charting a small upward trend, adding more than 10% in a week. XLM trades at $0.069, boosted by the upcoming Meridian conference in Mexico.


Stellar and XRP Often Move in Unison

Stellar has remained relatively stagnant, failing to return to levels near $1. The asset, seen as the open-source competitor of Ripple’s XRP, has seen temporary rallies to as high as $0.13 during a small-scale altcoin season in the summer of 2019.

In 2019 to date, XLM is one of the worse performers in Bitcoin terms. The Stellar native token is down by nearly 75%, from the 3,000 Satoshi range down to around 700 Satoshi. XLM has also sunk from $0.11 in January, failing to rally more significantly.

In the case of XLM, there is also a pattern in which the #10 cryptoasset often rallies along with XRP. The two projects are seemingly unrelated, but their prices often move in unison. This time, however, the XLM rally sees XRP remaining stationary. Ripple’s token only added around 3.6% this week to $0.29, where it has remained for the past few weeks.

XLM and XRP also share another element – both were supported by the work of Jed McCaleb. Later, the former Co-Founder received a severance of 9 billion XRP tokens.

McCaleb however, is limited in his selling to avoid tanking the price, but this still has a damaging impact on investor confidence. Ripple itself has aimed to protect the XRP price, by being careful about selling its monthly tranches of 1 billion XRP that get unlocked from the escrow.

Projects Choose Close Dates for Annual Conferences

In another strange coincidence, Ripple’s Swell conference in Singapore and the Stellar Meridian conference in Mexico are roughly coinciding.

Swell will happen on November 6-7, and Meridian just ahead of that, on November 4-5. Based on coin calendar data, Stellar seems to have set the dates first, establishing the first conference back in June. Ripple recorded the dates for Swell in August.

Both the Ripple and Stellar solutions aim to bring banks on board to use their system of servers. So far, however, the usage of the actual coins remains slow. XRP sees relatively low volumes for a leading coin, while Stellar sees slower network usage. The Stellar decentralized exchange slowed down its volumes from above $1 million in 24 hours, to just $51,000 in a day.

What do you think about Stellar and Ripple’s competition? Share your thoughts in the comments section below!


Images via Shutterstock, Twitter @Whale_alert

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts

DOWNLOAD MY EBOOK FOR FREE

"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris

Resources

  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2022 Cryptoracle.info - Crypto News