Stellar primarily benefited from its accessible upside fundamentals. The open-source blockchain project lately emerged as a viable alternative to its top rival Ripple Labs. Ripple, a San Francisco-based payment firm, landed in a legal controversy with the US Securities and Exchange Commission (SEC) over the alleged illegal sale of its native token XRP.
XLM Price Prediction https://t.co/06bYYn02qo
— The City Telegraph (@city_telegraph) February 5, 2021
As you’ve likely heard, Ripple Labs and its blockchain token Ripple (CCC:XRP-USD) caught some serious heat from the Securities and Exchange Commission. To make a long story short, the SEC claims that the XRP token represents a backhanded way of sidestepping laws regarding initial public offerings. Ripple is defending itself by claiming that XRP is a cryptocurrency, nothing more.
This will be an interesting legal battle to follow. Unfortunately for Ripple, it didn’t do itself any favors when it introduced XRP as a centralized token. That implies managerial control, which is the antithesis of why virtual currencies even exist.
But the fiasco cynically helps Stellar Lumens. They’re both roughly competing in the same general space of advancing next-generation payment processing and microtransaction services. With one down sentiment wise, that leaves more attention to be paid to XLM.
Stellar Lumens (XLM), Long-Term Price Predictions for Next Months and Year: 2021, 2022
XLM Technical Outlook
The XLM/USD exchange rate on a four-hour chart showed the pair in a short-term corrective downtrend following its 274 percent rally from the December 23 low of $0.11.
In doing so, it appeared to have formed a Bullish Flag, a small continuation pattern that appears when an asset consolidates before resuming its move to the upside. The price typically breaks out by as much as the length of the previous rally, otherwise known as “Flagpole.”
That puts XLM/USD’s breakout target near $0.535.
- Stellar price awaits a breakout post USDC integration announcement.
- A close above the $0.36 level confirms the pre-existing bullish sentiment and a chance for a 50% move.
- XLM is trading between two critical levels that will determine its future.
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Recommendations: Buy or sell Stellar Lumens? Cryptocurrency Market & Coin Exchange report, prediction for the future: You’ll find the Stellar Lumens Price prediction below. According to present data Stellar Lumens (XLM) and potentially its market environment has been in a bullish cycle in the last 12 months (if exists). Our Ai cryptocurrency analyst implies that there will be a positive trend in the future and the XLM might be good for investing for making money. Since this virtual currency has a positive outlook we recommend it as a part in your portfolio. Trading in bull markets is always easier so you might want to favor these currencies under the given circumstances, but always read up on optimal investment strategies if you are new to investing.