🚨🚨XLM price crashes as XRP forms a risky pattern🚨🚨📉📉
Stellar’s (XLM) price dropped to $0.2862, the lowest since February 3, and is now 57% down from its peak in November. This drop happened as many cryptocurrencies fell, with Bitcoin and Ethereum entering a bear market.
XLM and Ripple prices often move together because of their history and roles in the crypto world. Jed McCaleb, the founder of XLM, helped create Ripple. Both focus on payments and may get approval for their exchange-traded funds from the Securities and Exchange Commission.
A fall in Ripple’s price could hurt XLM further. After XRP's price went down and formed a risky head and shoulders pattern often seen as a sign of future drops there is a chance XRP could fall more, with a next key price level at $1.79, If it goes below that, it might decline further, with the next support also at $1.61.
XLM fundamentals show it could keep dropping this week. Data from Santiment indicates that total open interest for XLM has fallen to 64.5 million.
The daily chart reveals XLM has been making lower lows and lower highs, forming a descending channel pattern that confirms a downward trend.
these factors, XLM might keep falling. The next important level to look at is $0.2056, which is about 28% lower than where it is now.
BITCOIN could help raise the value of crypto again, possibly reaching a new all-time high based on Bitcoin's price changes.
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