Ripple and Stellar Hold Above Key Support Zones as Derivatives Signal Bullish Bias

Ripple and Stellar are displaying bullish signs as they hold above key support zones. XRP trades at $1.40 on Tuesday, maintaining its position above the 200-day EMA support at $1.35. Similarly, XLM holds above the dense band of EMA resistance, keeping the near-term bias bullish.

The derivatives data for both altcoins signal a bullish bias, with positive funding rates and rising long positions. The long-to-short ratios for Ripple and Stellar read 1.14 and 1.15, respectively, on Tuesday, nearing their highest levels in a month. A ratio above one indicates bullish sentiment, as traders bet asset prices will rise.

XRP's funding rate flipped positive on August 28 and read 0.0084% on Tuesday. The XLM funding rate also turned positive on September 2 and read 0.0147% on Tuesday, indicating a bullish outlook for both altcoins.