bullish

FOMO

Stellar

Higher

Recently, Stellar (XLM) price acquired massive intraday gains of 9%. From the recent dip on August 5th, it rose 33% (at press time). 
Overall, the last-day sentiment was due to the case result of Ripple (XRP). As Stellar (XLM) often follows XRP price behavior and sentiment. Meanwhile, from August 5th, a surge was witnessed due to a broader market resurgence attempt by bulls. 
At the time of writing, the bullish boost gave the price and <a href="https://www.thecoinrepublic.com/price-prediction/stellar/">XLM’s </a>market cap a boost of 9%. Likewise, the surge has taken this asset to the 26th seat among the top 100 cryptocurrencies in 24 hours globally.&nbsp; 
At the time of writing, the fully diluted market cap of the coin concerning was $5.073 Billion. 
<h2 class="wp-block-heading" id="h-xlm-received-liquidity-boost">XLM Received Liquidity Boost</h2> 
Likewise, for the recently generated trend, the volume inflow of the spot has advanced spectacularly by 250.77%. The volumes have reached $287.463 Million.&nbsp; 
The recent advancement in price showed increased bullish sentiment, as the liquid has increased well in XLM. The volume/market cap ratio, often the liquidity ratio, was at 9.7%; this makes trading much easier on an exchange close to the exchange value. 
<h2 class="wp-block-heading" id="h-many-on-socials-are-optimistic-why">Many On Socials Are Optimistic: Why?</h2> 
On X, crypto traders, enthusiasts, and investors have showcased optimism for Stellar (XLM). 
This massive ignition in optimism was highlighted by a crypto enthusiast, @RippleXrpie. Reporting that XRP has won the case which led to a surge in XLM price as well.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BOOOOOOOOOOOOOOOOOOM!!! Judge Torres has ruled that <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> shall pay $125 million in civil penalties and cease any further violations of securities laws, concluding the protracted four-year legal dispute with the SEC! Congratulations <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> holders we made it! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/GS90APKgGd">pic.twitter.com/GS90APKgGd</a>— JackTheRippler © (@RippleXrpie) <a href="https://twitter.com/RippleXrpie/status/1821278821527511376?ref_src=twsrc%5Etfw">August 7, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Judge Torres ruled that Ripple shall pay $125 Million for the civil penalties and further violations of securities laws to be ceased immediately. This statement concluded the 4-year protracted legal dispute with the SEC. 
<h2 class="wp-block-heading" id="h-stellar-xlm-has-good-fundamentals">Stellar (XLM) Has Good Fundamentals</h2> 
A glance at the ChainBroker website presented that Stellar (XLM) has strong user support. In fact, major players of the crypto landscaper are its followers. 
Such as @AlexisOhanian, @BrianArmstrong, and a few others; based on their social activity on X, the Twitter score has a good value of 269 showcased its active accounts. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="523" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-1024x523.png" alt="Twitter Score &amp;Security Score | Source: Coincarp" class="wp-image-654344" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-1024x523.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-300x153.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-768x392.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-1536x784.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-150x77.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-696x355.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78-1068x545.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-78.png 1555w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Twitter Score &amp;Security Score | Source: Coincarp
 </figcaption>
</figure> 
Correspondingly, its security score powered by CertikSkynet showed a score of 85.82, which in terms of security got 261st rank, and it has been an A-tier security class asset. 
<h2 class="wp-block-heading" id="h-decoding-xlm-price-overview">Decoding XLM Price Overview</h2> 
Over time, the XLM price has showcased its similar price activity from XRP, and recent XRP news triggered a bullish spike simultaneously, too. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="546" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-1024x546.png" alt="XLM1.D &amp; XRP1.D | Source: TradingView" class="wp-image-654339" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-1024x546.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-768x410.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-1536x819.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-150x80.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-696x371.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77-1068x570.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-77.png 1567w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 XLM1.D &amp; XRP1.D | Source: TradingView
 </figcaption>
</figure> 
Judging from the fact that XLM has taken support from the demand zone, with historical proven great surges earlier, and coincidingly broader market optimistic sentiment, the price could aim big. 
Over the daily chart, the price has formulated a falling wedge pattern, precisely a bullish pattern, where XLM has traded near the upper border of the pattern and could rocket based on further optimism.&nbsp; 
Meanwhile, the indicators have now turned to the optimistic side, as the 50-day EMA has been pierced and is soon to pierce the 200-day EMA from below.&nbsp;  
<a href="https://in.tradingview.com/chart/XLMUSD/ewqLSTDE-Decoding-XLM-Price-Overview/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
Likewise, the MACD had converged, and it was on the brink of completing a bullish cross formation, where the histogram was at -0.00028. The RSI has shown increased strength in momentum amid the latest news, which has pierced the median line, which, as of writing, was at 55.63. 
Therefore, based on recent price action, the resistance could be present at $0.1200, and $0.1600. However, a trader @JavonTM1 has signified a 600% target from press time towards the $0.681, the high of 2020-2021.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24XLM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XLM</a> (Stellar)'s target @ $0.681 remains here as these prices continue to hold broken out and with a massive set of Higher Lows that can be indicating its uptrend from 2020-2021 to still be in tact. These Higher Lows and breakout could be calling for an over 594% climb back near… <a href="https://t.co/f4RqqlzNhY">https://t.co/f4RqqlzNhY</a> <a href="https://t.co/terhrWX92c">pic.twitter.com/terhrWX92c</a>— JAVON
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1821185553779290315?ref_src=twsrc%5Etfw">August 7, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
To manifest multifold gains, the buyers need to show considerable interest too. So investors should stay cautios, prepared, and avoid FOMO (DYOR). 
However, based on its daily chart performance, the demand zone happens to be very crucial for XLM to set a glamorous stage for it to go green. The support to have an eye at would be present at $0.09350 and $0.07575. 
The post <a href="https://www.thecoinrepublic.com/2024/08/08/xlm-price-surged-9-is-it-the-next-big-star-after-ripple-win/">XLM Price Surged 9%: Is It The Next Big Star After Ripple Win?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

XLM Price Surged 9%: Is It The Next Big Star After Ripple Win?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 8, 2024

Do Kwon to be Extradited to South Korea: Montenegro Court Upholds Decision

Dormant ETH addresses linked to PlusToken move $2 billion after three years

This New Crypto Is Set To Surpass Heavyweight’s Celestia (TIA) and Tron (TRX)

'You Want Me to Be Bearish?': Blockchain Analyst on 10 Catalysts for Crypto Right Now

Imminent Death Cross Formation Emerges For Bitcoin – Time to Sell or Hold?

Unlocking Crypto Potential: Innovative Approaches for High Returns on the Best Crypto Presale Pla...

Join our free newsletter for daily crypto updates!