#Stellar Lumens (XLM) has experienced a decline in its price and is currently trading below $0.0880 in comparison to the US Dollar, much like Bitcoin. If the price of XLM falls below the $0.0800 support level, it is likely to see further losses.

Despite attempting to recover, XLM price faced challenges in gaining bullish momentum against the US Dollar after a significant drop below $0.085. As a result, the XLM/USD pair has entered a bearish zone by dropping below the $0.0820 level.

After consolidating above $0.085, the price of Stellar Lumens has initiated a fresh upward trend against the US Dollar. The XLM/USD pair has successfully surpassed the resistance zone at $0.090, thereby entering a positive territory.

Following a decline, the price of Stellar Lumens (XLM) reached a low point at approximately $0.0777 and subsequently initiated an upward correction. This correction saw the price rise above the key levels of $0.0800 and $0.0810. Moreover, it surpassed the 23.6% Fibonacci retracement level of the recent downward movement from the swing high of $0.0891 to the low of $0.0777.

Currently, the price of Stellar Lumens (XLM) is encountering a resistance barrier around the $0.0838 level. This level is in close proximity to the 50% Fibonacci retracement level of the recent decline, measured from the swing high of $0.0891 to the low of $0.0777. Additionally, a significant bearish trend line is taking shape on the 4-hour chart, with resistance forming around $0.0855. 

It is worth noting that XLM is currently trading above both the $0.0820 mark and the 100-hourly simple moving average, indicating a positive trend.

XLM is currently encountering resistance around the $0.0850 level, along with the aforementioned trend line. A decisive breakthrough above this resistance zone has the potential to propel the price towards the $0.0880 mark. Further upward movement could potentially lead to gains targeting the $0.0900 level, and potentially even extend towards $0.0920.

If #XLM is unable to surpass the resistance at $0.0850, the initial support on the downside can be found near the $0.0810 level. Subsequently, the next significant support zone is located around $0.0800. Further downward movement could potentially lead the price towards the $0.0785 level in the near term. If this level is breached, there is a possibility of a retest of the $0.0765 level.

Price Analysis estimates that the market capitalization of this XLM is $2,241,296,214. The 24-hour trading volume of the coin is around $47,758,352.

KEY LEVELS :

RESISTANCE LEVEL : $0.0850-$0.0890

SUPPORT LEVEL : $0.0810-$0.0780

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#coingabbar #BinanceTournament #crypto2023

#Stellar (XLM) has increased by more than 12% this morning, to $0.161942, reflecting a phenomenal 72% gain in the previous 30 days.

#XLM is also up 123% since the start of the year, with the cryptocurrency being the greatest benefactor - apart from XRP - of Ripple's partial triumph against the SEC a few weeks ago.

It's also worth noting that XLM's support level (green) continues to rise steadily, indicating that the currency won't go back to where it was before the Ripple-SEC verdict earlier this month.

Not only has this verdict delivered much-needed hope to XLM and the larger market, but it has also paved the way for future development and expansion in Stellar's case, considering that Stellar, like Ripple, is primarily focused on cross-border payments.

Moreover, with Stellar seeing tremendous acceptance and growth in recent months, there's a genuine possibility that XLM may increase more fiercely than XRP in the near future, even though the distance may be too large for it to overtake the larger cryptocurrency.

XLM's chart is perhaps the strongest of any top-50 cryptocurrency right now, with its signs pointing to more rises in the coming days.

Its 30-day moving average (yellow) has stopped declining and seems to be on the verge of rising again, while its relative strength index (purple) is approaching 70.

This indicates extremely strong purchasing momentum, and considering that the RSI hasn't yet reached 70, there's a considerable probability that XLM may advance further over the weekend.

Moreover, Stellar has been rapidly rising in recent months, helping to enhance XLM's standing even further.

According to a recent research, the Stellar blockchain is the top network in terms of off-ramp sites for converting cryptocurrency to money.

Stellar has also seen increased adoption as the underlying blockchain layer for several stablecoins, demonstrating its reputation as a scalable and cost-effective network.

All of this speaks to further Stellar acceptance in the near and far future, but although XLM may move up the market cap leaderboard, it is doubtful that it will surpass XRP very soon.

#XRP is now the fourth-largest cryptocurrency in terms of market capitalization (XLM is the twenty-first), and with Ripple's partial victory against the SEC, it's likely to see even more adoption, with Ripple recently announcing a partnership with the Republic of Palau to trial an XRPL-based stablecoin.

XLM is expected to continue expanding, with the cryptocurrency hitting $0.17 again in the next weeks and perhaps reaching $0.20 by the start of next year.

- Stellar introduces Soroban, its newly launched smart contract platform, overcoming a delay caused by a bug.
- Soroban distinguishes itself by employing Rust and WebAssembly rather than Solidity, emphasizing simplicity, security, and scalability.
- The platform boasts additional attractions for developers, including low fees and independent resource pricing.
- Despite the launch, XLM's price remains unaffected, currently standing at $0.1137, experiencing a daily decline of 5%.
- However, there's potential for a significant uptrend, with a projected 75% rally to reach the high of $0.1972 recorded in July 2023.

Stellar (XLM), a prominent competitor to XRP, is poised for a significant boost as the Stellar Development Foundation (SDF) introduces smart contract functionality to the Stellar network. The newly launched smart contract platform, named "Soroban," has undergone over a year of testing and development, marking a pivotal moment for Stellar.
Smart contracts, a cornerstone of contemporary blockchain networks, have played a crucial role in the success of platforms like Ethereum. Stellar is now set to capitalize on this trend with Soroban, offering simple, secure, and scalable smart contracts. Notably, Soroban distinguishes itself by supporting the Rust and WebAssembly programming languages, known for their performance and compatibility.
Stellar's smart contracts boast features like predictable fees and independent resource pricing, providing users with cost transparency and mitigating concerns about network congestion and price fluctuations.
Soroban, with its Protocol 20 upgrade successfully implemented by Stellar network validators, introduces new smart contract capabilities. This marks the initial phase of Soroban's rollout after being tested on the Stellar testnet in October 2022. The platform is designed to be user-friendly, allowing developers to create and launch smart contracts on the XLM network through a web interface or a command-line tool. Additionally, Soroban offers a library of templates and examples to facilitate efficient development.
Despite a delay caused by a bug discovered in Stellar Core in January 2024, subsequently fixed, the SDF is now pushing forward with a $100 million funding initiative to support projects utilizing XLM smart contracts.
While XLM has yet to react significantly to these developments, currently trading at $0.1137, technical analysis suggests potential for a bullish rally. Trading charts indicate a bullish pennant formation, with a likely breakout to the upside. If the cryptocurrency manages to hold above $0.1, a 75% rally from the current price is anticipated, aiming to retest the $0.1972 high from July 2023.
It's essential to note that cryptocurrency investments are inherently volatile, and readers are encouraged to conduct thorough research and make informed financial decisions. The provided information aims to be accurate and up-to-date, but readers should be cautious and aware of the inherent risks associated with cryptocurrency markets.
#Stellar #XLM #Crypto2024 #cryptocurrency
$XLM

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Stellar Teases Exciting News in 10 Days, Creating Speculation in the Crypto Community

Stellar, a blockchain platform known for facilitating cross-border transactions, has recently made a mysterious announcement on social media. They stated, “SOMETHING COOL IS DROPPING IN 10 DAYS.”

Unlike some crypto hype, Stellar is known for delivering substantial updates, so this cryptic message has generated widespread speculation and discussions among crypto enthusiasts.

Reddit users are speculating about what this announcement might entail, with ideas ranging from rebranding to new partnerships or added functionality.

Speculation and Predictions

Reddit users are buzzing with various ideas about Stellar’s mysterious announcement. Some think it might be a rebranding effort to align with Stellar’s evolving vision. Others suggest it could involve new functionality or a significant partnership, possibly with a major financial institution.

One user pointed out Stellar’s recent investment in MoneyGram and its utility-focused blockchain, emphasizing that regulatory uncertainty is currently holding back adoption by large players in the finance industry. Clearing regulatory hurdles could potentially position Stellar as a leader in blockchain applications for finance.

However, some users are cautious, noting the volatile nature of the crypto market and suggesting that this announcement may not lead to immediate changes. Some even consider the possibility of Stellar’s native currency, XLM, gaining a more defined regulatory status.

Interestingly, some Reddit users mentioned the timing of the announcement, coinciding with the upcoming G20 summit in India, where cryptocurrency regulation will be a key topic. Could Stellar’s update be related to global regulatory shifts?

As we await Stellar’s big reveal, this discussion highlights the ongoing debates and uncertainties surrounding blockchain technology’s transformative potential. It also raises questions about whether blockchains like Stellar’s could challenge Ethereum’s current dominance by offering faster and more efficient solutions.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Bitcoin #CryptoNews #cryptomarket #Stellar #XLM

The post "XRP Price Reaches Multi-Week High Amid Market Boom: See Why" first appeared on 36crypto.com News.
The price of #XRP has spiked over 6% consequently reaching a multi-week high amid the global crypto market boom. XRP has secured the #9 spot on the top 10 trending cryptocurrencies this week, thanks to its impressive price surge and volume boost.
The token looks to close October on an impressive note as it passed the important $0.6 resistant level. This comes following a significant rise in price by 6% over the last 24 hours.
However, XRP has returned to the level it was trading in mid-August after breaking through the important price level. Even though there seems to be movement on the part of the bears, the coin's present view confirms that it can gain 15.27% by the end of October.
When compared to Bitcoin's 30 days gains of 27%, that of XRP might look smaller but it is important to know that XRP performed better than other tokens in its rank including #Polygon (MATIC), #Stellar (XLM), and #Litecoin (LTC) with 12.96%, 7.21%, and 3.78% respectively.
Reasons behind the impressive growth
The XRP price trend in October has been triggered by several events. However, there are three of these reasons that stand out. First of all, the win against the United States Securities and Exchange Commission when the court denied its motion for an interlocutory appeal.
Secondly, the dropping of the charges by the SEC against two of Ripple's executives, Brad Garlinghouse and Chris Larsen. The SEC had previously filed a lawsuit against the two aforementioned names for allegedly facilitating the sales of unregistered securities in the form of XRP to investors.
Lastly, the false news about the approval of the BlackRock Bitcoin ETF application and the expectation of approval soon. These three incidents might also be considered as a potential trigger for XRP's future rise.
XRP price today

Meanwhile, XRP experienced a boost in its trading volume, jumping over 131% and peaking at $2.2 billion. According to live data from Coinstats, the price of XRP today is $0.596 representing a 2.66% rise in the last 24 hours. What is more, XRP maintains its position as the #9 largest cryptocurrency with a live market cap of $31,933,412,268.574 ($31.9 billion).

#Stellar is a blockchain platform whose native currency, $XLM is meant to support rapid and low-cost cross-border transactions, and it will deploy the testnet update of Protocol 20 on September 20. This release is a step towards activating the mainnet of the Soroban smart contracts platform, which will be the ultimate goal of the protocol's development.

Smart Contracts And Protocol 20 Are Next For Stellar

Stellar Core and Horizon release candidates are planned for the testnet upgrade, as stated in a whitepaper published on September 18. Stellar is a blockchain network that relies on its distributed network of nodes to verify transactions and keep the system safe. Stellar Core is the central nervous system of the network, ensuring that all validators on the network are in sync and working together to maintain the security of the blockchain.

Stellar Horizon is a portal that streamlines developers' and programmers' use of the mainnet's application programming interfaces. Horizon simplifies application deployment by doing away with the hassles of communicating with the blockchain.

When the final version has been released, Validators will cast a vote to determine when the stable version will be upgraded to. The blockchain creator has admitted that the update to Protocol 20 would include new settings that will call for more deliberation and vote to adapt. Before releasing these modifications to the mainnet, the Stellar Network will establish a timeframe for their implementation.

The Soroban Bonus of $100 Million

Soroban "integrates with and functions alongside the existing Stellar blockchain," according to Stellar's description of the smart contracts platform. Futurenet, Stellar's testnet, is where the gateway is being tried out right now.

Stellar believes its smart contracts are preferable because the network has reduced "pesky serialisation loops" with features like multi-core scalability and an improved cost mechanism. Soroban, in contrast to Ethereum layer-2 platforms like Arbitrum and Polygon, will be completely integrated with Stellar and will continue to be open source.

To encourage Soroban adoption, Stellar Development Foundation established an Adoption Fund of a hundred million dollars. They described it as a "umbrella for several programmes that assist various levels of Soroban adoption," some of which have already debuted while others are still in the planning stages.

Among the best-performing investments over the previous three months, XLM has maintained very stable pricing. As an example, the coin's value quadrupled from $0.08 in June to $0.18 by the end of July.

Since then, though, the currency has reversed course and dropped by about 40%. The daily candlestick pattern, however, indicates that the uptrend is still in effect. It has not yet been decided whether or not XLM will be compatible with this update.