XRP, XLM Tumble Under Bearish Pressure

XRP and XLM are facing bearish pressure after losing over 4% and over 5%, respectively, in the previous day. Derivatives data shows a slight bearish tilt, with CoinGlass' long-to-short ratio for both XRP and XLM near their lowest levels in over a month.

The funding rates have also flipped negative, indicating bearish sentiment. XRP's funding rate is -0.0058% on Tuesday, while XLM's is -0.0210%. This suggests that shorts are paying longs, signaling a bearish outlook for both assets.

XRP's price trades at $1.05, below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) at $1.13, $1.21, and $1.42, respectively. The Relative Strength Index (RSI) is in bearish territory near 39, indicating lingering downside pressure.

XLM's price trades at $0.172, below the key EMAs with the 50-day EMA at $0.187, the 100-day EMA at $0.186, and the 200-day EMA at $0.196 acting as a dense overhead cap.