The Stellar Lumens (XLM) has risen to its peak since 2021 to reach $0.3052 while the wider cryptocurrency bullish run.
The surge comes as Ripple (XRP) suddenly rallies to a high of $1.50, its best showing since May 2021, riding on investor excitement and the fear of missing out. It’s speculation for ripple being a resolution of the legal battle with the U.S. Securities and Exchange Commission (“SEC”).
Stellar Lumens Breaks Resistance, Faces Possible Pullback
XLM sees its trajectory related to its similarity with Ripple, who also want to make huge changes in the payment systems. Ripple only works with institutions, but Stellar uses with peer-to-peer payments. XLM coincided a shared history of their founders, and even when correlated price movements.
Together, that also created investor optimism for both Stellar and XRP ETFs to pop up in 2025. But analysts are not ruling out a subsequent near term correction for Stellar’s sharp gains. Technical indicators signal an overbought condition, which is definitely over extended relative to historical averages, with respect to the cryptocurrency.
Stellar was able to break though the resistance at $0.1624, a critical threshold from July 2023. Moves such as these usually pull back and retest former support levels before resuming a bullish trend, analysts warn.
As Crypto continues to support payment oriented technologies, the short term volatility coming up for XLM is expected and the long term outlook for XLM remains bullish. Technical signals and the wider market, however, will offer investors clues as to when a correction might occur.
The King of price increase, Stellar Lumens, shows us that the future of the cryptocurrency space is very bright but for sure, the road ahead may need careful navigation.
