Stellar Lumens (XLM) Price Analysis As Analysts See More Gains Ahead

After months of consolidation, Stellar price made a strong comeback this month, mirroring the performance of Ripple (XRP), which soared to $1 this week.

Stellar price soared to highs not seen since January 2022, and crypto analysts are optimistic that the coin has more room for gains.

XLM price reached highs of $0.2555 on Monday, a level last seen on 4th January 2022. The coin is now up by more than 220% from its lowest level this year. Stellar Lumens price is also trading at a 1,000% premium from its all-time low, which was reached in December 2018.

Stellar price soared this month as part of the broader rally in the crypto industry. This rally was sparked by the strong performance of XRP, which soared to highs of nearly $1.20 this week. Stellar price is also rising as investors continue to flock to coins, which are seen as cheaper compared to others like XRP and Bitcoin.

Crypto analysts are optimistic that Stellar Lumens price has more room for gains as the rally in the industry continues. In an X post on Monday, CW predicted that the coin will make a stellar comeback and noted that it is now poised to jump to $0.31. The coin rose above a symmetrical triangle on the hourly chart, which provided a strong technical signal for more gains.

Harmonic Trader, another popular crypto analyst with over 22,000 followers, made a similar Stellar Lumens prediction over the weekend. In his post, the analyst hinted that the coin will jump to highs of $0.34.

DogeLumens, a renowned crypto analyst, identified several reasons why Stellar price is likely to continue its strong rebound. He cited factors like Stellar’s ongoing partnership with MoneyGram, which enables users to withdraw their USDC coins at over 40,000 MoneyGram locations across the United States.

Stellar also plays a role in Real World Asset Tokenization, as evidenced by the success of the Franklin OnChain US Government Money Fund, which has attracted over $429 million in assets under management. The fund has an effective yield of 4.5%, making it an ideal cash alternative.

Other catalysts include Stellar’s partnership with Mastercard, a large financial services company, and its relationship with Stripe, the fast-growing fintech company.

Meanwhile, many analysts are also pointing at Stellar’s similarity with Ripple, another coin, which was created to solve a problem in the remittances industry. Interestingly, Gavin Wood, Stellar’s founder, was also a co-founder of Ripple Labs. As such, with the XRP price hitting $1, analysts are predicting that Stellar XLM could be next.

XLM Price Forecast After Flipping Key Resistance Stellar price soared to highs not seen since January 2022, and crypto analysts are optimistic that the coin has more room for gains.

XLM price reached highs of $0.2555 on Monday, a level last seen on 4th January 2022. The coin is now up by more than 220% from its lowest level this year. Stellar Lumens price is also trading at a 1,000% premium from its all-time low, which was reached in December 2018.

Stellar price soared this month as part of the broader rally in the crypto industry. This rally was sparked by the strong performance of XRP, which soared to highs of nearly $1.20 this week. Stellar price is also rising as investors continue to flock to coins, which are seen as cheaper compared to others like XRP and Bitcoin.

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