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<p class="is-style-lead">Stellar Lumens price has risen for two consecutive days, and some crypto analysts expect it to continue its comeback.</p> 
<p>Stellar (<a href="https://crypto.news/price/stellar/">XLM</a>) was trading at $0.105 on Wednesday, up by 6% from its lowest point this month and by 36% from its July low.</p> 
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  XLM price chart | Source: <a href="https://crypto.news/price/stellar/" target="_blank" rel="noreferrer noopener">crypto.news</a>
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<p>Ripple (<a href="https://crypto.news/price/xrp/" target="_blank" rel="noreferrer noopener">XRP</a>) and Stellar have similar origins and goals. Stellar was established by Jed McCaleb, a computer programmer who served as Ripple’s Chief Technology Officer. Stellar is now mostly known for its partnership with Circle, the creator of USD Coin. <a href="https://www.circle.com/en/multi-chain-usdc" target="_blank" rel="">Data by Circle</a> shows that the total supply of USDC in Stellar stood at $228 million on July 31.</p> 
<p>Stellar has also partnered with MoneyGram in a deal that lets USDC recipients access their cash in thousands of its locations globally.</p> 
<p>Additionally, Stellar powers Franklin Templeton’s OnChain U.S Government Money Market Fund, which has accumulated over $402 million in assets. FOBXX is a tokenized fund similar to Blackrock’s BUIDL that aims to provide holders with regular income.</p> 
<p> You might also like: <a href="https://crypto.news/blackrocks-buidl-adds-over-5m-in-a-week-despite-market-turbulence/"> BlackRock’s BUIDL adds over $5m in a week despite market turbulence </a> </p> 
<p>Some crypto analysts believe that Stellar Lumen’s has more upside to go. In an X post, Jonathan Morgan, the lead crypto analyst at Stocktwits, <a href="https://x.com/jonmorgan_HODL/status/1818450187108470877" target="_blank" rel="">noted that</a> Stellar was one of the most undervalued cryptocurrencies in the market. The other two were Algorand (<a href="https://crypto.news/price/algorand/" target="_blank" rel="noreferrer noopener">ALGO</a>) and Zcash (<a href="https://crypto.news/price/zcash/" target="_blank" rel="noreferrer noopener">ZEC</a>).</p> 
<p>In another X post, Cryptosahintas, an analyst with over 155,000 followers, predicted that the XLM price would rise to $0.73. If this happens, it will imply a 600% increase from the current price.</p> 
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   <p lang="en" dir="ltr">Stellar / Xlm /Usdt <br><br>Loading 0 .73 $ 7 X<a href="https://twitter.com/hashtag/Stellar?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Stellar</a> <a href="https://twitter.com/hashtag/Xlm?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Xlm</a> <a href="https://twitter.com/search?q=%24Xlm&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$Xlm</a> <a href="https://t.co/IjJN9OMtUI" target="_blank" rel="">pic.twitter.com/IjJN9OMtUI</a></p>— Cryptosahintas (@Cryptosahintas) <a href="https://twitter.com/Cryptosahintas/status/1818233018537959791?ref_src=twsrc%5Etfw" target="_blank" rel="">July 30, 2024</a>
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<h2 class="wp-block-heading" id="xlm-price-needs-to-clear-key-resistance-levels">XLM price needs to clear key resistance levels</h2> 
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  <img loading="lazy" decoding="async" width="1024" height="569" src="https://crypto.news/app/uploads/2024/07/Stellar-price-1024x569.png" alt="Analyst: ‘undervalued’ Stellar Lumens price is ripe for a comeback - 9"> 
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  Stellar price chart | Source: <a href="https://www.tradingview.com/symbols/XLMUSD/?exchange=COINBASE" target="_blank" rel="">TradingView</a>
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<p>For this Stellar forecast to work out, the token will need to flip the key resistance point at $0.1125 (July high) into support. It should then rise above the year-to-date high of $0.1626, which is about 55% above its Wednesday’s trading level.</p> 
<p>On the positive side, this price action is possible since the token formed a falling wedge chart pattern between March and July. A falling wedge is one of the most popular signs in the financial market.&nbsp;</p> 
<p>However, fundamentally, Stellar has some key issues. Its Soroban blockchain platform has gained little traction among developers. It has <a href="https://defillama.com/chain/Stellar" target="_blank" rel="">attracted</a> just 6 Decentralized Finance developers and $11.70 million in total value locked.</p> 
<p> You might also like: <a href="https://crypto.news/stellars-xlm-token-forms-bullish-divergence-but-risks-remain/"> Stellar’s XLM token forms bullish divergence, but risks remain </a> </p>

Analyst: ‘undervalued’ Stellar Lumens price is ripe for a comeback

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