CandleFocus Stellar’s XLM price rises as XRP rebounds, but gains may be brief
2024-12-17
Author: Content Editor
Summary: Stellar Lumens (XLM) experienced a 10% increase in price on December 17, reaching an intraday high of $0.4713. This surge in price coincided with the rise of Ripple (XRP) after the unveiling of its RLUSD stablecoin. Stellar and Ripple often move in sync due to their focus on money transfer, and both have a common origin with founder Jed McCaleb. Stellar's strong fundamentals, including a rising number of addresses and increasing network volume, contribute to its positive outlook. The coin is expected to continue rising, with bulls targeting the intermediate resistance point at $0.50. However, there is a risk of a bearish flag pattern forming, potentially leading to a retest of support at $0.3535.
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