The intoxicating tale of XLM, or Stellar as it is popularly known, has seized the limelight this morning with an indomitable 12% climb, positioning its rise at $0.161942. This if factored in with the preceding month’s movement, culminates in a colossal 72% expansion. Unbelievable as it may sound, since we bid adieu to 2021, XLM has surged by 123%, all thanks to the recent legal coup by Ripple against SEC. Stellar, which shares Ripple’s orientation towards cross-border payments profited massively from this slight winds of victory. With a handful of validations and advancements gracing its path recently, Stellar’s potential growth might rival that of XRP, albeit the existing disparity might be a tad too wide for it to overtake the latter.
Scrutinizing Stellar’s graph gives us the most robust picture among the top 50 cryptocurrencies at present. The indicators predict further ascension in the coming days. The 30-day moving average corroborates these predictions, indicating a halt to its plummet and a prospective rise. The Relative Strength Index teetering close to 70 suggests a potent buying impetus, which is yet to peak, keeping the weekend’s hopes up.
Stellar’s growth trajectory, underscored by its steady support level, reflects a price ascent higher than its previous plateau before Ripple’s small triumph. The ruling gave the market a breath of fresh air, especially Stellar, paving the path for its advancement and extension. With its lead in off-ramp locations for digital to fiat conversion, an increase in stablecoins usage and its cost-effective, scalable network, Stellar assures further adoption in the imminent future.
While Stellar’s growth could push XLM to a higher notch in the market cap leaderboard, it might be far-fetched to displace XRP. Ripple’s recent partnership with the Republic of Palau for trialling an XRPL-based stablecoin post the SEC’s pseudo-victory and its fourth position in the crypto market cap leaderboard substantiates this. Nonetheless, the upward journey of Stellar destined to reach $0.17 and possibly $0.2 at the advent of 2023 shows promising signs.
For traders with a thirst for rapid progress, new crypto entrants like presale tokens may capture their interest. An example is Evil Pepe (EVILPEPE), an ERC-20 meme coin that managed to pool $1 million in a week with fair distribution, garnering investor confidence. Opportunity awaits potential investors on the official Evil Pepe website, with 1 EVILPEṔE priced at an affordable $0.000333 – quite a steal when it lists on trading platforms within a week.
Though Crypto investments come with their own host of risks, the allure of potentially high returns on early investment with new entrants like EVILPEPE couple with the rise of proven players like Stellar, provide a tantalising prospect for crypto enthusiasts.
Source: Cryptonews
