Stellar (XLM) has witnessed a remarkable surge in value over the course of the past week. On July 13, following the news of Ripple Labs' (XRP) legal victory against the Securities and Exchange Commission (SEC), XLM's price experienced a meteoric rise from $0.096 to $0.153, resulting in an impressive 60% boost within a mere 24 hours.
According to data from CoinMarketCap, XLM has surged by more than 42% in the last seven days alone, bringing its current value to over 73% higher than it was 30 days ago.
While Stellar (XLM) and Ripple (XRP) serve different use cases in the cryptocurrency space, due to their common origins, investors might perceive the legal victories of one project as indicative of potential success for the other, leading to similarities in their price trends.
The current frenzy has fueled speculation about Stellar's future trajectory, with many wondering if XLM will break through the coveted $1 mark before the end of 2023.
Investors and enthusiasts are closely monitoring Stellar's performance as it continues to focus on its unique proposition of facilitating efficient and low-cost cross-border transactions and remittances.
With its promising use cases and technological advancements, Stellar Lumens could attract increased adoption and carve out a distinct niche in the crypto world.
Stellar's Latest Developments
Stellar Lumens (XLM) is a decentralized protocol for the cross-border transfer of digital currency launched by the Stellar Development Foundation in 2015. It links payment providers and financial institutions, enabling users to create, trade, and transfer any type of currency quickly and at a very low cost. The payments network is powered by its own native cryptocurrency, Stellar Lumens.
Ripple's recent legal victory sent the price of Stellar (XLM) soaring, following the price of XRP, which experienced over 100% surge in value.
The favorable ruling by US District Judge Analisa Torres, which stated that Ripple didn't violate federal securities law, marks a significant development in the ongoing debate over the regulatory status of cryptocurrencies. It challenges the SEC's assertion that most crypto tokens should be classified as securities and subject to strict investor protection regulations. It also clarifies the specific circumstances under which a digital asset may be classified as a security.
Stellar (XLM) price surged by 104% to $0.196 after the Ripple news broke, but then it retraced some of those gains over the weekend.
Despite a minor correction after the initial excitement subsided, XLM has maintained a bullish trend. According to CoinGecko's sentiment analysis, over 84% of users feel good about the token’s prospects – highlighting that the community is bullish about Stellar.
According to CoinMarketCap data, XLM has surged by over 42% in the last seven days, resulting in its value being more than 73% higher than it was 30 days ago. The substantial growth in the token's value is evident in its remarkable rise of over 11,173% from its all-time low of $0.001227 on November 18, 2014.
CoinGecko data shows that Stellar (XLM) is experiencing a new rise of $0.163440 today, with a 24-hour trading volume of $1,111,293,622.11. This represents a 17.69% price increase in the last 24 hours and a 68.28% increase in the past 7 days. With a circulating supply of 27 Billion XLM, Stellar is valued at a market cap of $4,455,249,477.
Factors Influencing Stellar (XLM) Price
XLM's price continues to soar as interest in its innovative payment and remittance solution increase. Stellar’s market behavior significantly impacts its price. Various factors influence Stellar's price, including market sentiment and investor confidence, regulatory developments, market volatility, external factors, institutional adoption, and technological advancements.
The recent notable developments on the Stellar blockchain affecting its price include the Stellar-powered HoneyCoin App enabling USDC (USD Coin) cashouts at MoneyGram locations at supported locations in Nigeria, Kenya, Ghana, Uganda, Tanzania, and the United Kingdom (UK).
Stellar also announced partnering with Fonbnk to provide payment solutions to the unbanked in Africa.
Another significant milestone for Stellar is its integration with Allbridge's interoperability and bridge solution. On July 11, Stellar announced its availability on multiple chains, such as Ethereum, Solana, Celo, and Polygon, through the Allbridge integration, demonstrating Stellar's utility for innovative opportunities in DeFi.
Stellar’s partnerships have undeniably bolstered the adoption and usage of Stellar's blockchain technology for facilitating cross-border transactions and remittances, positively impacting XLM’s trading activity. According to data from CoinMarketcap, the coin’s trading volume currently surpasses $321 million, with a 130% increase in 24-hour trading volume.
This trend reflects a growing recognition of Stellar's potential as a reliable and efficient platform for cross-border payments, attracting more investors and traders to engage with XLM tokens.
Stellar (XLM) Price Predictions
The bull run in XLM coin price started with Ripple's victory over the SEC lawsuit. The current charts demonstrate Stellar is experiencing a significant surge. If this momentum continues, it could signal the start of a bullish run. However, a failure to maintain this momentum could lead to a downward trend.
The current Relative Strength Index (RSI) for Stellar is significantly below 30, signaling that the digital currency is oversold and due for a price increase. Stellar is above all its major Moving Averages and key resistance levels, with the MACD indicator showing upward movement.
XLM Price Prediction 2023
Based on the analysis from the Bollinger Band indicator, the price of Stellar (XLM) may consolidate at its current level before experiencing further upside momentum, with the XLM price currently outside the range of the Bollinger Band indicator.
These indications strongly support a bullish outlook for the Stellar (XLM) cryptocurrency.
For the rest of 2023, most experts expect the Stellar (XLM) price to continue the bullish trend.
With the high momentum rally, XLM can reach $0.24 by the end of 2023. However, a market dump could land the XLM price at $0.095, while a balance in trade activities could terminate 2023 at $0.1456.
CryptonewsZ's Stellar Lumens price prediction for 2023 expects the XLM coin to have minimum and maximum prices of around $0.0817 and $0.198, respectively.
Cryptonews predicts easy near-term gains of around 50% from current levels, expecting XLM to soon hit its next major resistance area in the $0.237-248 zone if the bullish trend continues.
CoinCodex expects Stellar (XLM) to reach a price of $ 0.169161 by Jul 24, 2023. This would represent a 22.31% price increase for XLM in the next 5 days.
According to the Stellar forecast price and technical analysis by Price Prediction, in 2023, the XLM price is expected to cross an average price level of $0.16, with an expected minimum price value of $0.16. XLM can reach a maximum price level of $0.17.
XLM Price Prediction 2025
As per the Stellar Lumens price prediction 2025, CryptonewsZ expects the coin to have a maximum price of $0.311, while on the downside, it might fall up to $0.216. The average XLM price might be trading around $0.264 by the end of 2025.
CoinCodex's Stellar price prediction for 2025 is between $ 0.159563 on the lower end and $ 0.539836 on the high end. Based on its XLM price prediction chart, the price of Stellar could increase by 225.35% and reach $ 0.539836 if it reaches the upper price target.
In 2025, Price Prediction predicts the XLM price to cross an average price level of $0.34, with the expected minimum price value of $0.33. XLM can reach a maximum price level of $0.39.
According to the Stellar market forecast by Bitnation, based on machine-based algorithms analyzing various technical indicators, in 2025, Stellar will see impressive growth, reaching a high of $0.634126, averaging around $0.584064, with a minimum price of $0.534001.
XLM Price Prediction 2030
CryptoNewsZ's prediction for the XLM price is an average of $0.900 by the end of 2030. The predicted high for 2030 might be around $1.062, and the low might be around $0.738.
CoinCodex predicts the Stellar price to be between $ 0.224369 on the lower end and $ 0.875212 on the high end in 2030. Based on its XLM price prediction chart, the XLM price could gain 424.38% and reach $ 0.875212 if it reaches the upper price target.
According to Price Prediction, in 2030, the XLM price is expected to cross an average price level of $2.09, with an expected minimum price of $2.02. XLM can reach a maximum price level of $2.43.
Bitnation predicts XLM to continue to rally toward $1.47 based on market sentiment in 2030. Failing to gain this support could see Stellar average around $1.42 and bottom out at $1.37.
Final Words
Stellar (XLM) has experienced a significant surge in value recently. Stellar's various partnerships with financial institutions and companies have impacted its adoption and use cases, increasing XLM's trading volumes.
However, Stellar’s price is affected by market volatility and regulatory pressures, making its future price points unpredictable.
Investors should research and consider multiple factors before investing in Stellar. Using technical indicators and monitoring the market sentiment will help you predict where Stellar (XLM) price may head next.
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