Stellar's Record Growth Puts Pressure on XRP and XLM
XRP and XLM are facing pressure as Stellar continues to grow in its real-world asset tokenization efforts. The network reached a record 217.4 transactions per second, supporting over $3.38 billion in tokenized assets. This growth has positioned Stellar as the third-largest blockchain for tokenized real-world assets, surpassing Solana, Avalanche, and Aptos.
Despite this momentum, XLM is struggling to sustain recent gains, with traders facing weak momentum and cautious derivatives positioning. The token's long-to-short ratio on CoinGlass stands at 0.76, near its lowest level in over a month, indicating short positions outweighing longs. However, the funding rate remains positive, suggesting continued demand for bullish exposure.
XRP is also under pressure, having slipped below $1.480 and falling below its major moving averages. The Relative Strength Index has dropped to 53, placing it near neutral territory, while the MACD has flattened close to zero. Derivatives positioning on CoinGlass shows a long-to-short ratio of 1.02, with a positive funding rate.
Key support and resistance levels are in focus for both XRP and XLM, with XRP facing potential declines towards $1.307 or even the psychological $1.000 level. On the upside, XRP could break above $1.574 to bring the $1.900 resistance area into focus.