Stellar (XLM) has experienced a significant price surge, reaching $0.2550 for the first time since February 2022, with an 18% increase in the last 24 hours. Despite a decrease in trading volume, XLM has soared by 120% over the past week. This surge coincides with Donald Trump's reelection and the positive sentiment towards cryptocurrencies. However, analysts warn that the bullish trend may be nearing exhaustion, as XLM's RSI has reached its highest level since February 2021, indicating overbought conditions. XLM is consolidating near a resistance level, and a failure to break through could lead to a price retracement. Nevertheless, historical trends offer optimism, as XLM had previously gained 900% within six months after reaching an overbought RSI. XLM's association with Ripple Labs' XRP and the possibility of regulatory changes under a new SEC Chair appointed by Trump have also contributed to the rally. Social sentiment and engagement have increased, making XLM the top coin by social activity on October 23. Traders are advised to exercise caution due to overbought indicators and high volatility. Despite uncertainty in the near-term trajectory, the ongoing rally showcases the market's resilience amidst changing political dynamics.



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