As the final crypto market experiences a slight achieve in complete market cap, Stellar (XLM) stands out with a considerable quantity of value improve over the past week. Based on knowledge from CoinMarketCap, the XRP competitor is up by 17.61%, outperforming each different prime 100 cryptocurrency prior to now seven days. 

XLM To Attain $1?

With XLM presently hovering across the $0.13 value zone, there are speculations on the following motion. Apparently, a crypto analyst with the title EGRAG CRYPTO on X (previously Twitter) predicts that XLM may rise to $1 if sure circumstances are met. 

Based on the analyst’s put up on September 8, this bullish prediction is fashioned on a possible crossover between two technical indicators, particularly the 200-day Transferring  Common (MA)and the 21-day Exponential Transferring Common (EMA).

#XLM Heading for $1:

When the Bullish Cross happens on the weekly time body with the 21 EMA (Exponential Transferring Common) and the 200 MA (Transferring Common), I am anticipating a possible surge of roughly 500% 📈.

The chart under is exhibiting promising indicators that the following… pic.twitter.com/33TrI2znLb

— EGRAG CRYPTO (@egragcrypto) September 8, 2023

To clarify, the MA indicator displays the typical value knowledge over a selected interval of time, e.g., 200 days. It’s continually up to date and can be utilized to determine commerce areas and acknowledge market developments.

Then again, The EMA performs an identical operate however with a give attention to more moderen value factors. As a result of its methodology of calculation, the EMA reacts to cost adjustments quicker than the MA. 

Based mostly on EGRAG CRYPTO’s prediction, if there may be an upward crossover of the 21 EMA and 200 MA on XLM’s weekly chart, there’s a risk the token may expertise a 500% value surge within the coming months, surpassing the dollar mark to commerce at $1.10. 

This prediction is principally primarily based on historic value knowledge, as XLM witnessed an identical large value achieve when this crossover occurred between 2020 and 2021. 

Nonetheless, it’s value stating that each one predictions are speculations with out ensures and shouldn’t be relied on as funding recommendation. 

One other Partnership For Stellar?

In different information, the Stellar neighborhood seems to expect an enormous constructive replace within the subsequent few days. On September 2, Stellar Improvement Basis shared with its crypto neighborhood that “One thing cool is dropping in 10 days”. 

One thing cool is dropping in 10 days.

Get able to gear up for a change that is bought us all excited. Keep curious 😎 pic.twitter.com/CgNzfzwqmc

— Stellar (@StellarOrg) September 2, 2023

This announcement was nicely obtained, with the XLM token rising by 10% within the subsequent 24 hours. Apparently, some fanatics predict Stellar may announce a brand new partnership within the coming week.

The blockchain community has already collaborated with firms corresponding to American remittance agency MoneyGram and Circle, the corporate behind the USDC stablecoin. In actual fact, Stellar introduced a minority funding in MoneyGram earlier in August. 

For now, it stays unknown what this new improvement could possibly be. Nonetheless, there may be the likelihood it may elicit some impact on XLM’s value trajectory.

On the time of writing, XLM is trading at $0.132, having gone up by $0.132 within the final day. In tandem, the token’s day by day trading quantity has gained by 21.33% and is valued at $119.14 million.

XLM trading at $0.1308 on the hourly chart | Supply: XLMUSDT chart on Tradingview.com

Featured picture from Stellar, chart from Tradingview.