Stellar (XLM), which has seen its price rise significantly over the past week, stands out in the crypto industry as a whole, which has seen a modest increase in its overall market value. In the last seven days, the XRP rival has outperformed every other top 100 cryptocurrencies, according to data from CoinMarketCap, rising by 17.61%.
Stellar USDC pairs the world’s leading digital dollar stablecoin, which has seen over 1,000% year-over-year growth and now has nearly $6B USDC in circulation, with the #XLM network, an established and proven blockchain, which has processed more than 1.5 billion total operation
— S.Lazoja (@SLazoja) February 25, 2021
XLM To Reach $1?
There are rumors about the upcoming movement, as XLM is presently trading around the $0.13 price range. It’s interesting to note that EGRAG CRYPTO, a cryptocurrency analyst on X (previously Twitter), expects that XLM might increase to $1 if specific criteria are met.
Stellar (XLM) has been on a meteoric rise, soaring 17% in just one week! Will the bulls maintain their push to reach the coveted $1 mark? Don't miss out on this stellar opportunity! #crypto #Stellar #XLM #bullish #tothemoon #INDvsPAK #NFT #ShaheenAfridi #NFTs pic.twitter.com/Pp9Rl5hEQa
— ⚡ Mr. Crypto Giants🐋 (@CryptoGiants_) September 11, 2023
This optimistic forecast is based on a likely crossover between two technical indicators, namely the 200-day moving average (MA) and the 21-day exponential moving average (EMA), according to the analyst’s post from September 8.
To clarify, the MA indicator displays the average price data for a given time frame, for example, 200 days. It can be used to pinpoint trade corridors and spot market trends because it is updated often.
The EMA, on the other hand, serves the same purpose while concentrating on more recent price points. The EMA responds to price fluctuations more quickly than the MA because of the way it is calculated.
According to EGRAG CRYPTO’s forecast, if the 21 EMA and 200 MA on XLM’s weekly chart cross upward, the token may enjoy a 500% price increase over the next several months, surpassing the dollar threshold to trade at $1.10.
— Southside saita realty (@SSouthimath) June 15, 2023
This forecast is largely based on historical pricing data because the crossover between 2020 and 2021 in XLM resulted in a similar large price increase.
It is important to note that all forecasts are merely hypotheses with no assurances and should not be used as investment advice.
Another Partnership For Stellar?
In other news, it seems that the Stellar community is anticipating a hugely favorable update in the coming days. The Stellar Development Foundation announced on September 2 to the cryptocurrency community that “something cool is dropping in 10 days.
Team Asobi, maybe 😅🤷♂️
Xdev, Rise of the Ronin (Team Ninja) 🤞 maybe another partnership game as well???
Plus we still need release dates for other games in 2023 Stellar Blade, Granblue Fantasy Relink etc
— Joel Garcia (@JoelJ_Garcia) April 9, 2023
Following this statement, the price of the XLM token increased by 10% the next day. It’s interesting to note that some supporters believe Stellar may reveal a new alliance this week.
The blockchain network has previously worked with organizations like Circle, the business that created the USDC stablecoin, and MoneyGram, an American remittance operator. In fact, earlier in August, Stellar declared a minority interest in MoneyGram.