CandleFocus

Stellar Lumens price prediction: what next for the XLM token?

Author: Content Editor
The recent rally in Stellar Lumens (XLM) has paused after a sharp increase of nearly 500%. The XLM token is currently trading just below its year-to-date high of $0.6370, having surged by 630% from its lowest point this year. Stellar Lumens and Ripple are often compared in the crypto industry as they were both created to disrupt the payments sector. Ripple aims to have banks and money transfer firms adopt its RippleNet technology, while Stellar provides technology for these firms to power their own payment networks. Stellar's notable partnerships include Circle, the creator of USD Coin, and MoneyGram. The network's total value locked has reached over $60 million, and it has become a major player in the Real World Asset (RWA) tokenization industry, with a significant partnership with Franklin Templeton. The recent filing for a Stellar ETF by Canary, a financial services company, has also increased hopes of institutional investment. Additionally, the recent victory of Donald Trump has made Stellar and Ripple more appealing to investors. The XLM token has formed a double-bottom pattern and surpassed key resistance points on the weekly chart, indicating a potential bullish breakout in the near future. However, a drop below the key support level at $0.4400 would suggest further downside.

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