Stellar Price Prediction as XLM Pumps Up 12% – Can Stellar Overtake XRP?
The price of Stellar (XLM) has jumped by more than 12% this morning, with its rise to $0.161942 representing a massive 72% gain in the last 30 days.
XLM is also up by an impressive 123% since the beginning of the year, with the cryptocurrency being the biggest beneficiary – besides XRP – of Ripple's partial victory against the SEC a couple of weeks ago.
And with Stellar witnessing some significant adoption and development in the past few months, there's a real chance that XLM could rise more vigorously than XRP in the near future, even if there may be too much of a gap for it to flip the bigger altcoin.
XLM's chart probably counts as the strongest among any top-50 cryptocurrency right now, with its indicators pointing towards additional gains in the coming days.
Its 30-day moving average (yellow) has stopped falling and looks as though its about to begin rising again, while its relative strength index (purple) is nearing 70.
This signals some very strong buying momentum, and given that the RSI hasn't topped 70 yet, there's a good chance that XLM may continue to rise over the weekend.
It's also encouraging to note that XLM's support level (green) continues to enjoy a steady climb, suggesting that the coin won't be falling back down to its level prior to the Ripple-SEC ruling earlier in the month.
Not only has this ruling provided XLM and the wider market with some much-needed optimism, but in Stellar's particular case it has cleared the way for further growth and expansion, given that Stellar – like Ripple – is focused largely on cross-border payments.
On top of this, Stellar has already been growing steadily in recent months, helping to boost XLM's position further.
For example, the Stellar blockchain is the leading network in
Read more on cryptonews.com
