Stellar (XLM) started a strong increase above the $0.0950 resistance against the US Dollar. XLM price is gaining pace and might aim for $0.120.

• There was a steady increase in Stellar’s token price above $0.0950 against the US dollar.
• It is now trading above $0.100 and the 100 hourly simple moving average.
• There is a major bullish trend line forming with support near $0.0980 on the hourly chart of the XLM/USD pair (data source from Kraken).
• The pair is likely to continue higher towards $0.1150 and $0.1200 in the near term.

Stellar Price Rallies Over 10%

After forming a strong support base above $0.0750, Stellar (XLM) saw a strong increase above $0.0850 against the US Dollar, following XRP surge. It gained over 10% beating Bitcoin in the short term.

There was a clear move above the $0.0950 and $0.100 resistance levels. The price tested the $0.1050 zone. A high was formed at $0.1043 and the price is now consolidating gains. There was a minor decline below the $0.10 level. The price tested the 23.6% Fib retracement level of the recent increase from the $0.0757 low to the $0.1043 high.

XLM price is now trading above the $0.10 resistance and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $0.0980 on the hourly chart of the XLM/USD pair.

On the upside, an immediate resistance is near the $0.1050 level. The next major resistance is near the $0.1120 level, above which the price could test $0.1150. A close above the $0.1150 level might start a steady increase toward the $0.1200 and $0.1250 levels. The next major stop could be $0.1300 or even $0.1320.

Are Dips Supported in XLM?

If XLM price struggles to continue higher, it could start a downside correction. Immediate support on the downside is near the $0.0980 level or the trend line.

The next major support is near the $0.090 level or the 100 hourly SMA. A clear break below the $0.0900 support zone could spark a fresh decline. The next major support on the downside is near the $0.0800 level.

Technical Indicators

Hourly MACD – The MACD for XLM/USD is gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XLM/USD is currently well above the 50 level.

Major Support Levels – $0.0980 and $0.0900.

Major Resistance Levels – $0.1050 and $0.1200.

The post XLM Price (Stellar) Surges Along XRP, Can Bulls Push It To $0.12? appeared first on CryptoSens.

MOG Coin, Stellar and Decentraland are our top choices for cryptocurrencies to watch this week, following their contributions to the recent market rebound.

The post XLM, MOG, MANA: Top cryptocurrencies to watch this week appeared first on CryptoSens.

Stellar, the payment-focused blockchain company, is experiencing ecosystem challenges that have affected its token’s performance.  The Stellar (XLM) has dropped by over 44% from its highest point this year, underperforming other popular cryptocurrencies like Bitcoin and Ethereum. Ecosystem challenges Established…

The post Stellar’s XLM token forms bullish divergence, but risks remain appeared first on CryptoSens.

In the ever-evolving world of cryptocurrency investments, technical analysis continues to play a significant role in shaping investor sentiment and market trends. Amidst the volatile landscape, one analyst, known as Charting Guy, has garnered attention for his bold predictions regarding the future of two prominent digital assets: XRP and Stellar (XLM).

Will XRP Rally “Melt” Faces?

Charting Guy’s recent tweet has made waves, declaring that investors in XRP and XLM will soon witness “melting faces” as he identifies a potential $13 movement. This provocative statement underscores his confidence in the impending bullish surge he foresees for these cryptocurrencies.

His analysis suggests a bullish trajectory for both XRP and XLM, despite prevailing market skepticism and prolonged periods of consolidation. While some market participants have labeled these assets as “dead coins” due to their lackluster performance in recent years, Charting Guy remains undeterred by sentiment-driven narratives, instead focusing on technical indicators and chart patterns.

$XRP & $XLM will melt faces very soon.

2 coins that have traded sideways or as some say, “done nothing” for 6 years..

most people write them off as dead coins.

but, as a technical analyst, i don’t care too much about narratives or sentiment.

the charts tells the story.

— Charting Guy (@ChartingGuy) March 27, 2024

Potential Breakout In The Offing?

According to the analyst’s examination, XRP and XLM have exhibited symmetrical triangle patterns, signaling potential breakout opportunities. These patterns, which have been forming over the course of six years, are among the largest formations Charting Guy has encountered, indicating significant potential for price movement.

His projections indicate a breakout target for XRP within the range of $10 to $13, implying a substantial gain of up to 2,000%. Similarly, Charting Guy believes that XLM could follow a similar trajectory, reaching a target of $13.

Optimistic Long-Term Prospects For XRP And XLM

While these short-term targets are ambitious, Charting Guy’s outlook extends beyond the current market cycle. He suggests the possibility of XRP reaching $38 in the future, although he acknowledges that this may not materialize within the next few years.

Related Reading: Shiba Inu (SHIB) Slumps As Whale Sell-Off Dampens Momentum – Details

Nonetheless, he remains optimistic about the long-term prospects of both XRP and XLM, foreseeing a three-digit value for both assets within the next decade.

His bullish outlook is not solely based on technical analysis but also takes into account the potential role of XRP and XLM in the emerging financial landscape. With the increasing adoption of central bank digital currencies (CBDCs) and the potential for disruption in traditional financial systems, Charting Guy believes that XRP and XLM are well-positioned to play a significant role in the future of finance.

Featured image from Andrea Piacquadio/Pexels, chart from TradingView

The post XRP And XLM Blast: Analyst’s 20X Rally Projection To ‘Melt Faces’ appeared first on CryptoSens.

XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and development. Both digital assets are dedicated to facilitating cross-border transactions. 

Given their considerable similarities, the Chief Technology Officer (CTO) of Ripple, David Schwartz has attempted to uncover the factors contributing to the persistent price correlations between the cryptocurrencies. 

Ripple CTO Explores XRP And XLM Price Trends

Schwartz has recently taken to X (formerly Twitter) to share a chart illustrating a strong correlation in the price movements and patterns between XRP and XLM tokens. In response to an X user who expressed curiosity regarding the similar price trends between the two cryptocurrencies, Schwartz explained the distinct reasons behind XRP and XLM’s unique price movements. 

The Ripple CTO acknowledged that he lacked an accurate explanation for the price correlations between XRP and XLM. However, he provided two major factors that could be influencing the price trends. 

Schwartz revealed that comparable market forces that regulate various cryptocurrencies also control XRP and XLM. He further stated that most investors and crypto enthusiasts often place XRP and XLM within the same category due to the cryptocurrencies’ historical connection.

 As a result, a significant number of people simultaneously engage in buying and selling XRP and XLM causing the cryptocurrencies to have similar price movements. 

Concluding his analysis, Schwartz stated that he believed there were no market manipulations or external “evil forces” making these cryptocurrencies display similar price trends. 

Latest Developments For Both Assets

XRP and XLM are one of the major cryptocurrencies that have gained significant attention, often seen as the leading contenders for cross-border payments and mainstream adoption. 

While these two cryptocurrencies tend to display similar price tracks, they have been experiencing vastly different developments in their respective markets and ecosystems. 

XRP recently gained regulatory clarity after successfully gaining a victory in its ongoing legal battle with the United States Securities and Exchange Commission (SEC). Despite speculations suggesting that XLM might be the SEC’s next target due to its striking similarities with XRP, the cryptocurrency has not encountered similar legal issues in the US as Ripple. 

Following XRP’s partial legal success, the price of XRP surged considerably. While XLM followed behind increasing by almost 90% but retraced some of the accumulated gains later. 

In terms of expansion, XRP has achieved multiple milestones and has gained approvals in several regions including Dubai. The cryptocurrency is positioned to gain from Ripple’s potential integration into trillion-dollar markets and industries.

On the other hand, Stellar (XLM) is improving its ecosystem by integrating a new testnet upgrade, Protocol 20. The cryptocurrency is also actively seeking new partnerships with banks to expand its reach and utility.

The post XRP And XLM Price Correlation Persists, Ripple CTO Explains Why appeared first on CryptoSens.

Recently, a notable observation has been the significant correlation between XRP and XLM’s price action. This phenomenon has caught the attention of industry experts and investors alike, leading to a deeper examination of the factors driving this trend.

Ripple’s Chief Technology Officer (CTO), David Schwartz, has weighed in on this topic, addressing the liquidity aspects of XRP and XLM. However, despite the visible correlation, Schwartz argues that more liquidity is needed in the XRP/XLM market to cause a notable price correlation.

This statement is based on data from CoinmarketCap, which illustrates the parallel price movements of these two cryptocurrencies over the past year. Schwartz’s insights provoke a deeper analysis of the potential reasons behind the alignment in their price behaviors.

Coinmarketcap makes it easy to compare the charts of various tokens. Here’s XRP versus XLM over the past year: pic.twitter.com/qNzfIu2TTB

— David “JoelKatz” Schwartz (@JoelKatz) December 18, 2023

Unraveling The Factors Behind XRP And XLM’s Correlated Price Movements

David Schwartz has identified three key factors influencing the XRP-XLM price correlation. Firstly, he posits that the entire digital asset market is significantly interconnected.

The market is still determining cryptocurrencies’ long-term viability, so industry news tends to affect all tokens, not just specific ones. This broader market sentiment could drive the correlation observed in XRP and XLM.

Secondly, Schwartz suggests that the dominance of Bitcoin in the cryptocurrency market could play a role. Given Bitcoin’s substantial market share and its influence on liquidity within the crypto space, movements in Bitcoin’s price often result in ripple effects across other crypto, including XRP and XLM.

I think there are a variety of factors that might be at play and it’s hard to know which are real.

One thing is that all digital assets track each other significantly. I think that’s because the market is still trying to figure out if they’re going to be a thing and so industry…

— David “JoelKatz” Schwartz (@JoelKatz) December 18, 2023

The third factor revolves around the crypto community’s perception that XRP and XLM require similar market conditions to thrive. However, Schwartz noted that he is “not sure if he believes this.”

Developments within the broader crypto industry could prompt parallel reactions from users of both tokens, leading to correlated price patterns.

Diverse Perspectives: From Short-Term Volatility To Long-Term Convictions

On the other hand, Bill Morgan, a lawyer and digital asset enthusiast, brings a different viewpoint, mainly focusing on XRPL token. Addressing recent market volatility, Morgan emphasizes the importance of a long-term perspective when analyzing XRP’s price action.

Responding to crypto community concerns about XRP’s performance, especially during heightened market movements, Morgan argues that convictions about the token should go “beyond short-term price fluctuations.”

Morgan’s stance is echoed by Matt, the Moon Lambo YouTube channel host, who points out that XRP’s price drop was not as severe as some in the crypto community perceived. Matt’s analysis places XRP at a moderate position among the top 50 coins by market cap in terms of gains and losses.

This is correct but placed in the context of XRP’s price action over the last month it is not great. XRP is down over 2% over the last month. Many but not all top 50 coins are up over the last month. In that context the fall was harder comparatively than could have been expected… https://t.co/VrlD2k0mWu

— bill morgan (@Belisarius2020) December 19, 2023

However, Morgan notes that the token’s performance over the past month has been lackluster, falling by over 2% despite a market-wide rally. This observation suggests that XRP’s decline was more pronounced than that of some of its peers, warranting a closer examination of its market dynamics.

Featured image from Unsplash, Chart from TradingView

The post XRP And XLM In Lockstep? Expert Sheds Light On Their Surprising Price Synchronization appeared first on CryptoSens.

On Monday, news quickly spread after a BlackRock XRP ETF filing popped up on the Delaware Corp. Commission website. The filing has since been claimed to be false. But the damage was already done as the token’s price surged quickly before reversing.

One interesting development from this event though was a curious correlation that emerged between the XRP price and the XLM price at the time. While the news was localized to XRP, XLM had surged just as much, emerging with a stunning correlation between the two.

XRP And XLM Correlation Balloons

In the wake of the rumored BlackRock XRP ETF filing pumping the token’s price, one enthusiast has noticed a significant correlation between XRP and XLM. Crypto analyst and educator Blockchain Backer took to X (formerly Twitter) to reveal what he terms as one of the “most bizarre” moves.

The chart clearly shows the XLM price surging just as the BlackRock news broke with a straight green candle. Likewise, when the news was debunked and the XRP price began to fall, so did the XLM price, in an eerily similar fashion.

In another post, Blockchain Backer revealed that XLM had followed XRP’s move in the 2-second timeframe. A chart shared with this post showed XRP’s movement and XLM’s movement on the same chart and the moves happened at almost the same time, as shown below:

“The fake news was literally XRP specific, and would impact XRP only, not XLM. If anything, you’d expect XLM sell off like the rest of the market. Instead, it mirrors. Why?” the analyst wondered.

Running A Similar Race

XRP and XLM have always seemed to run in the same circles and the correlation in their price movements has been a testament to that. One X user, in response to Blockchain Backer’s post, reasoned that the correlation was because both digital assets actually “share the same holders.”

One crypto analyst who has also closely tied the performance of XLM to that of XRP is Crypto Bilbuwoo. One of their long-running analysis includes both digital assets which the analyst expects to move toward new all-time highs in the same fashion.

In an October 15 post, Crypto Bilbuwoo posited that “The chart shows that 1.618 Fibonacci ratio(XLM: 6.5$, XRP: 26~33$) will be completed at the end of December.” The last time this happened was back in 2017 and the analyst expects a repeat of that trend, saying there would be a 6,500% surge for both assets.

Despite this correlation, Blockchain Backer still finds Monday’s simultaneous pump strange as he believes “those same holders would have dumped XLM for XRP. Not fomo bought XLM on that news story.”

However, as another X user explains, “Not if they believe XLM and XRP are brother and sister. There are some influencers peddling this for years. Doesn’t make logical sense but does with that narrative. XLM would be next!”

The post Stunning Correlation Emerges Between XRP And XLM, What’s Going On? appeared first on CryptoSens.

• Stellar (XLM) price was changing hands around $0.10 on Friday, down 7% and 15% in the past 7 and 30 days respectively. 
• The Stellar Development Foundation has teamed up with Certora to boost security for Soroban.

Stellar (XLM) price traded around $0.10 on Friday morning, positive by about 1.3% in the past 24 hours but -7% and -15% in the past seven and 30 days respectively. The downward trend that has held since the flip from highs of $0.20 on July 13 could now strengthen after XLM broke below the support line of a descending triangle pattern.

Stellar price gives up key support area

Today’s slight upside comes after Stellar news regarding its Soroban, a WebAssembly (WASM)-powered smart contracts platform. The Stellar Development Foundation has teamed up with smart contracts audit platform Certora to boost ecosystem security for Soroban. 

Product update! Today, @CertoraInc & @StellarOrg have teamed up to boost @SorobanOfficial, the Stellar network’s smart contract platform, with cutting-edge formal security verification.

Why is this important? It fortifies the foundation of blockchain security, ensuring trust…

— Stellar (@StellarOrg) October 11, 2023

Stellar announced a testnet for the smart contracts platform in September. While the development coincided with a spike to above $0.12 for XLM, the overall picture since has been one of struggle for bulls.

As can be seen on the daily chart below, the XLM price has failed to decisively break above the downtrend resistance line of a descending triangle since July’s downward flip. The bearish outlook remains and could strengthen as bulls struggle to keep prices above $0.10.

Can bulls retake control?

XLM price will need to see a sustained push from current levels towards the descending trendline and possibly break higher to flip bullish.  If XLM breaks above $0.13, buyers might target the immediate term supply wall around $0.16.

The post XLM price: could key Stellar news help stem bearish flip? appeared first on CoinJournal.

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The Stellar Development Foundation is set to enhance its blockchain offerings with Soroban, a new smart contract platform, currently in testnet phase, emphasizing heightened security and seamless integration.

The post Stellar initiates security audits for imminent Soroban smart contracts platform appeared first on CryptoSens.

• Stellar (XLM) will activate the testnet for Protocol 20, its latest network upgrade, on September 20 at 15:00 UTC.
• The upgrade will introduce the Soroban smart contracts on mainnet.
• XLM price was largely muted around $0.11.

Stellar is preparing for its biggest network upgrade – the upcoming Protocol 20 upgrade – which will introduce Soroban smart contracts to the mainnet. The upgrade will benefit developers and businesses building on Stellar, according to an announcement published on Monday.

Prepare for #Stellar’s Protocol 20 upgrade! It’s the biggest one yet, introducing Soroban smart contracts.

Things to know:
1. Testnet upgrade on Sep 20, 1500 UTC
2. Update Stellar-related software
3. Stay updated in the (#protocol-20) discord channel
4. Go here for more info…

— Stellar (@StellarOrg) September 18, 2023

Introducing Soroban smart contracts

Soroban is a developer-friendly, Rust-based smart contracts platform designed to integrate with the Stellar blockchain.

“It’s by far the biggest, most complex protocol upgrade to date, and so while the basic instructions to prepare are the same as ever — install up-to-date versions of any Stellar-related software you use! — the process will take a few extra steps and play out a bit slower than usual,” Justin Rice, VP of Ecosystem at the Stellar Development Foundation said in a blog post

Per the Stellar exec, the testnet will roll out on Wednesday, September 20 at 15:00 UTC. Testnet nodes will have to install the latest versions of the Stellar Core and Horizon.

Once the stable release is out, Stellar expects mainnet validators to schedule an upgrade vote determining the potential date for the public network upgrade. The vote date will be for six weeks after the stable releases.

“Because the Protocol 20 upgrade introduces new network settings that validators control, it is also likely that the initial upgrade vote will be followed by a series of additional votes to adjust those settings,” Rice added.

XLM price outlook

The price of XLM, native Stellar token, was hovering at $0.11 – just in the green in the past 24 hours.

However, XLM/USD was down 7.5% in the past week and was struggling for upside momentum following recent declines from highs of $0.13.  The upswing and subsequent losses followed Stellar’s teasing of a major development that turned to be a “buy the rumour, sell the news,” scenario.

This means XLM is poised near the key support level of $0.10, below which sellers could target $0.09 and then $0.07. On the upside, resistance is likely at year-to-date highs around $0.16.

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