Stellar Price Prediction as XLM Blasts Up 30% in 7 Days – Can XLM Reach $1?

cryptonews.com:

The Stellar price has dipped by 0.5% in the past 24 hours, yet its current level of $0.128569 represents an impressive 30% gain in the last 30 days.

As a cryptocurrency that also targets cross-border payments, XLM has benefitted from Ripple's success in its case with the SEC, with the altcoin joining XRP in the past few days to decisively outperform the wider market.

And given that XLM's fundamentals remain largely sound, it could easily continue to see sustained rises throughout the rest of the year, with the altcoin potentially on track to near $1 in 2024.

Stellar's chart looks very much like XRP's chart at the moment, with the altcoin enjoying a big surge on Thursday, when Ripple's positive decision arrived.

While its momentum isn't quite as strong as XRP's, it's not too far off, with XLM's relative strength index (purple) remaining above 60 and potentially signalling ongoing momentum.

This is reinforced by the altcoin's 30-day moving average (yellow), which has recently overtaken its 200-day average (blue) and has plenty of space to continue rising above the longer term indicator before things run out of steam.

Given its buying momentum, XLM could potentially pass $0.16 in the next few weeks, with the altcoin having a longer term target of $0.2.

One of the main factors supporting XLM's gains is the positivity surrounding Ripple's win last week, with XLM being a cross-border payments asset much like XRP.

Because this case concluded with the judge finding that XRP is not, in itself, a security, a similar view is now likely to be taken with regards to XLM, leaving Stellar free to continue expanding.

At the same time, XLM is also being helped by the progress Stellar itself has made in recent months, with the network still