XRP and XLM Stumble as Mixed Sentiment Weighs on Recovery Prospects

Ripple (XRP) and Stellar (XLM) are struggling to recover from recent price corrections. XRP is hovering near its key $1 support zone, while XLM trades below critical technical levels. The mixed sentiment among traders suggests both altcoins may be vulnerable to further downside.

Derivatives data indicates a mild bullish tilt for XRP, with the long-to-short ratio reading 1.03 on Thursday. However, this is countered by the funding rate, which shows improving sentiment at 0.0064% positive. The situation is more bearish for XLM, with a long-to-short ratio of 0.92 and funding rates of 0.0092% positive.

Despite some cautious optimism from CryptoQuant's summary data, both altcoins face significant technical hurdles. XRP's price action is capped by a cluster of EMAs overhead, while XLM sits below key resistance levels. The Relative Strength Index (RSI) for both currencies suggests persisting downside pressure.