Franklin

bullish

Resistance

Stellar

<ul> 
 <li aria-level="1">XLM’s surge influenced by Ripple’s XRP price increase, both adhere to ISO 20022, boosting cross-border payment efficiency.</li> 
 <li aria-level="1">Institutional investments enhance Stellar’s profile; Franklin Templeton manages $1.7 billion through Stellar, increasing ecosystem trust.</li> 
</ul> 
Stellar (XLM) has recently demonstrated a good upsurge, outperforming its peers with over a 100% increase in the past week, positioning it 13th in market capitalization among cryptocurrencies. This rise has been catalyzed partly by a surge in XRP, another crypto focused on swift and cost-effective cross-border payments.&nbsp; 
Both XLM and XRP conform to the ISO 20022 standard, enhancing their integration into the global financial ecosystem and spotlighting them as key players in future payment systems. 
<figure id="attachment_108435" aria-describedby="caption-attachment-108435" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-108435" src="https://www.ethnews.com/wp-content/uploads/2024/11/XLM_1M_graph_coinmarketcap.jpeg" alt="XLM_1M_graph_coinmarketcap" width="1200" height="800">
 <figcaption id="caption-attachment-108435" class="wp-caption-text">
 Source: Coinmarketcap
 </figcaption>
</figure> 
The noticeable uptick in <a href="https://www.ethnews.com/stellar-rallies-445-propeling-xlm-to-15-49b-market-cap-dethroning-shiba-inu/">XLM’s price</a>, which recently peaked at $0.62, has reignited market interest, although it remains below its all-time high of $0.90 from 2018.&nbsp; 
Notably, Stellar’s fundamentals extend beyond its association with <a href="https://www.ethnews.com/is-xrp-poised-for-greater-heights-under-trumps-presidency-and-genslers-resignation-ripple-ceo-thinks-so/">Ripple’s XRP</a>, with institutional interest adding a bullish pressure to its market value.&nbsp; 
Companies such as Mastercard and Franklin Templeton have incorporated Stellar into their operations, with Franklin Templeton managing assets over $1.7 billion via Stellar’s network. 
Moreover, the investment management firm Grayscale has highlighted Stellar’s potential through its Grayscale Stellar Lumens Trust. 
Despite a slight decrease in XLM’s price from $0.11 to $0.10, as reported in the latest 10-k form filed with the SEC, the trust’s assets saw a 28% increase, underlining a growing confidence in Stellar’s long-term viability. 
The addition of 34 million tokens to the trust and the issuance of 20,100 new shares illustrate an expanding interest and <a href="https://www.ethnews.com/xlm-pioneers-change-stellar-ceo-envisions-money-movement-akin-to-email/">investment in XLM</a>, potentially leading to increased liquidity and a higher asset price. 

<div class="cryptoboxes" id="mcw-12388" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="XLM" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
Stellar (XLM) is currently trading at $0.4863 USD, reflecting a 10.92% gain in the last 24 hours. Over the past week, XLM has skyrocketed by 109.47%, with monthly growth at an astounding 415.66%. This demonstrates strong bullish momentum and increased market interest. Year-to-date, XLM has risen by 276.10%, and in the last year, it has surged by 316.74%. 
Key Metrics: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Market Capitalization: $14.60 billion USD</li> 
 <li style="font-weight: 400;" aria-level="1">24-hour Trading Volume: $4.39 billion USD</li> 
 <li style="font-weight: 400;" aria-level="1">All-Time High: $0.9309 USD</li> 
 <li style="font-weight: 400;" aria-level="1">Support Level: $0.45 USD, critical for maintaining the current uptrend.</li> 
 <li style="font-weight: 400;" aria-level="1">Resistance Levels: $0.50 USD and $0.60 USD.</li> 
</ul> 
Technical Overview: 
XLM has shown strong bullish activity, likely fueled by increased adoption and interest in its blockchain as a financial bridge for global transactions.&nbsp; 
<figure id="attachment_108440" aria-describedby="caption-attachment-108440" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-108440" src="https://www.ethnews.com/wp-content/uploads/2024/11/XLMUSDT.P_2024-11-27_19-43-48.png" alt="XLMUSDT.P_2024-11-27_19-43-48" width="1518" height="929">
 <figcaption id="caption-attachment-108440" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
However, recent data suggests a decline in open interest, signaling reduced speculative activity. Analysts warn of potential pullbacks toward the $0.45 or even $0.28 levels, with a key support area at $0.22 USD. 
The post <a href="https://www.ethnews.com/xlms-stellar-week-doubling-in-value-whats-behind-the-explosive-growth/">XLM’s Stellar Week: Doubling in Value, What’s Behind the Explosive Growth?</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

XLM’s Stellar Week: Doubling in Value, What’s Behind the Explosive Growth?

ETHNews

Other articles published on Nov 28, 2024

Worldcoin (WLD) Slips Despite Announcing Panama Expansion

Beyond Bitcoin: The next big trade and the real reason long-term holders are cashing out

Bitcoin’s MDIA Decline Signals Bullish Momentum as BTC Re-enters Circulation

Litecoin News: $950M Whale Activity Boosts LTC Price Prospects

$13.6B in Bitcoin options expire Friday — Can bulls push BTC price to $100K?

Cloud Mining: AEON MINING can help users earn $2,000 a day

Join our free newsletter for daily crypto updates!