XLM vs XRP: Stellar (XLM) Hits All-Time Low Against Its Competitor

The latest move in the ongoing rivalry between Stellar (XLM) and XRP saw the former hit an all-time low against its competitor. After XLM failed to hold the key price point of 0.15 XRP, it suffered a big drop

Stellar (XLM) hit an all-time low against XRP in their ongoing rivalry.

After failing to hold the key price point of 0.15 XRP, XLM faced a steep decline, losing more than 8% in a single day and 29% since the beginning of the week. The token currently trades at 0.135 XRP, marking its lowest-ever level against XRP.

This rivalry between XLM and XRP has been making headlines for a while now, and it all started when Jed McCaleb was involved in the creation of Ripple before he went on to cofound Stellar.

Since then, both XRP and XLM have taken their own paths in the blockchain world. While XRP is primarily geared toward large banks and institutions, Stellar aims to enhance the accessibility of financial services for individuals. Despite their contrasting approaches, both tokens compete fiercely for dominance in blockchain-based payments.

However, in the recent scenario, XLM seems to be lagging behind. The Stellar token has shown weakness compared to XRP, but this doesn't necessarily conclude the competition. Both assets have experienced significant volatility, with prices fluctuating rapidly. Some still anticipate that XLM could potentially outshine XRP in the future.

One crucial indicator that traders closely monitor for these price movements is the RSI (Relative Strength Index) between XLM and XRP. Historically, whenever XLM has reached a low point on the RSI relative to XRP, the token has tended to experience a substantial price increase following that.

For instance, in November, XLM surged by more than 600%, reaching a high of $0.64, and its value against XRP increased by 165% to 0.427 XRP. Currently, the RSI for XLM/XRM is positioned in the middle, indicating that the price could either rise or fall in the upcoming period.