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Stellar XLM Surges by 50% – Following XRP and ADA's Lead

Stellar XLM Surges by 50% – Following XRP and ADA's Lead

CryptotickerCryptoticker2024/11/23 07:00
By:crypto newsRudy Fares

Stellar (XLM) price surged 50% in the past 24 hours to hit $0.43. Riding the coattails of its peers XRP and ADA, XLM has gained 170% over the past week, signaling renewed interest in the token and its potential for further growth.

XLM’s Meteoric Rise After Months of Stagnation

Stellar had been consolidating around $0.09 for months before joining the broader crypto market rally. Its recent surge to $0.43 marks a significant breakout, driven by a wave of market optimism.

XLM/USD 4-hourschart - TradingView

Wy is Stellar Price UP?

XLM's price action appears closely tied to its peers, XRP and ADA , which have seen substantial gains in recent days. As XRP broke $1 and ADA surpassed $1, XLM has mirrored their trajectory, gaining 170% in just a week.

Stellar Price Prediction: Aiming for $1

Analysts suggest XLM's next target is $0.80, with the psychological $1 milestone firmly in sight. However, potential retracement levels include $0.36 and $0.31, where buyers may look to enter if corrections occur.

XLM/USD 1-month chart - TradingView

What’s Driving Stellar’s Revival?

Stellar’s rise can be attributed to growing market enthusiasm, particularly for legacy projects gaining renewed traction. With the crypto market turning bullish , XLM is positioned for further growth in the coming weeks.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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