CandleFocus Stellar (XLM) Price Climbs 30%, Driven By XRP Close Ties
2024-11-17
Author: Content Editor
Stellar (XLM) has seen a surge in trading volume, reaching its highest levels since May 2021, coinciding with Ripple's (XRP) unexpected rally. XLM's price has also risen by 30% in the last 24 hours. The increase in volume suggests growing buying pressure and increased market interest in XLM. Historically, XLM and XRP have shared a strong correlation due to their connection through co-founder Jed McCaleb. XLM's Open Interest (OI) has also notably increased, indicating a bullish sentiment. Despite facing rejection at $0.22, XLM's price remains above the Ichimoku Cloud, suggesting strong support. If volume continues to rise, XLM could reach $0.24, but profit booking may cause the price to drop to $0.16.
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