Ripple’s XRP Is All The Talk In The Town, But Stellar’s XLM Is Where You Want To Be

In a dramatic turn of events, Stellar Lumens (XLM) has been riding a bullish wave, breaking past key resistance levels and recording a staggering 46.3% gain within a 24-hour period. This surge was largely attributed to the ripple effect of a favorable ruling for Ripple (XRP) in its case against the US Securities Exchange Commission (SEC), which had a positive impact on the altcoin market.

Short traders have been hit hard, with XLM shorts seeing open positions worth $6.56 million liquidated over the past 24 hours.

It then tumbled down almost 35% from the temporary top.

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The price of XLM reached a new 2023 high of $0.197 before retracing to trade at $0.143. However, as of today, the price of Stellar stands at $0.131374, representing a -12.62% price decline in the last 24 hours but a 33.30% price increase in the past 7 days.

Despite the recent dip, Stellar Lumens has shown a remarkable resilience. The altcoin has a 24-hour trading volume of $341,977,338.88 and a market cap of $3,581,151,503.

In terms of price analysis, XLM has broken out of the channel it formed back in November 2022. It shot out of it and reached $0.2 at one point before sharply falling to $0.13. For the bullish momentum to continue, it is crucial that XLM holds above the $0.11 mark. If it does, the next stops could be $0.25 and then $0.40.

While the current trend suggests a potential for further gains, investors should tread carefully. The market is ripe for profit-taking activities, which could provide opportunities for sellers in the mid to long-term. As always in the crypto world, caution and vigilance are key.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

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