In the span of a mere 24 hours, the price of XLM (Stellar) experienced an upward spiral of 10%, reaching $0.125598. The nebulous promise of “something cool” in the next ten days from the Stellar team apparently kindled this anticipatory excitement. Even though, XLM appears down by 7.7% in the last month, it is forward by a significant 76% since the start of the year. If Stellar delivers on their “cool” promise, we might anticipate additional value hikes.
A look at XLM’s graph reveals an energy uptick following a period of relative weakness. Especially, its relative strength index has soared past 50 after weeks dimming between 40 and 30, hinting at bulls once again rallying behind the token. Its price is mounting over its 30-day moving average, portraying an influx of buyer pressure. The 30-day is also climbing above the token’s 200-day average. XLM’s medium-term fortifications are sturdily rising, providing an ascending base for further upswings. Thus, it’s presumed that XLM could heighten to $0.130 or $0.135 before the current rally loses its footing.
The mystery behind Stellar’s Twitter account foretelling “something cool is dropping in 10 days” might be the impetus behind today’s upswing. The veiled reference could allude to a new partnership or some form of product launch. However, remember it could also be a classic ‘buy the rumor, sell the news’ event, which could equally deflate prices.
Circa mid-July, XLM has been among the stronger major altcoins, following the Ripple-SEC ruling. This decision indirectly fortified XLM, which is similarly employed for cross-border payment intents. Post-ruling, Stellar has begun a more assertive expansion, notably investing in MoneyGram. Such movements predict a bright future for XLM, with a potential of hitting $0.20 by year’s end.
On the subject of high returns, take notice of Launchpad.xyz (LPX), a promising newbie in the altcoin market, slated to debut later this year. Targeting intermediate and seasoned traders with a plethora of tools and resources, LPX might make bold strides once it lists on exchanges. Acknowledging that the crypto arena is a high-stakes game, LPX is positioning itself as a long-term player.
Whether you’re a seasoned crypto-enthusiast or a budding trader, the cryptic winds of Stellar’s imminent announcement and the promise of new entrants like Launchpad.xyz make for a fascinating upcoming week for all invested in crypto’s ebb and flow.
Source: Cryptonews
