Ripple’s XRP, Stellar (XLM) Survive Latest Altcoin Sell-Off

 In Altcoins, Exchanges

Ripple’s settlement with R3 and news of Stellar partnerships lift both assets while altcoins slide.

In the latest downturn for altcoins, Ripple’s XRP and Stellar (XLM) both remained in the green in the past day.

The recent small rise in prices follows bullish news from both projects. In Ripple’s case, the support came from what appears to be a settlement with R3 after a long-standing debate on the right of R3 to buy XRP at a lower price. A large transaction was noted by the crypto community, possibly signifying such a settlement:

https://twitter.com/JFxhunter/status/1039608272347688962

For Stellar, the price effect follows the purchase of startup Chain, which will be integrated into the Interstellar company. Lightyear, the company focusing on the Stellar technology, will aim to integrate the customers of Chain and move the technological solution from a private to a public blockchain.

In the past day, XRP prices managed growth of 4.19% to reach $0.27, stemming the downward trend from last week, when XRP started to unravel from around $0.30.

XLM recovered to $0.20 levels, rising by 4.80% as of 7:00 UTC. Over the past three months, XLM has been relatively stable,

While XRP has lost much ground since peak prices, there are still hopes the asset would be useful for international remittances. XLM gains support from news of the involvement of IBM, which continues to add validator nodes.

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https://twitter.com/JoshMcGruff/status/1039622468200275969

XPR remains among the biggest losers of the bear market, down 93% since peak levels. It reached an all-time high of $3.84 on January 4, 2018 and has since suffered steep losses.

XLM is down around 78%, signifying that its peak prices around $1 were by no means too exuberant. The asset climbed to an all-time high on January 3, 2018, when it traded at $0.91.

It is relatively unknown that the Ripple and Stellar projects share the vision of Jed McCaleb and have a somewhat similar approach to verifying transactions. Stellar, however, aims to build an open-source, fully public system. The two projects remain prominent and appear on numerous exchanges. But only time will tell if the unique technologies and the business plans of Stellar and Ripple manage to lift the two assets out of the generally sliding market for altcoins.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

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