Stellar (XLM) has seen the formation of a descending triangle pattern on its daily charts and it is on the verge of a breakout. If the crypto rallies by 5% or more by the end of next week, XLM might see new highs soon.
In the short term, Stellar might achieve a price level of $0.15. The long-term targets for XLM are in the zone of $0.9 to $1.
What is Stellar(XLM)?
Stellar is a peer-to-peer financial network for sending and receiving crypto. It is meant to be a driver of financial inclusion in developing countries. It has a very capable smart contract platform Soroban, which is currently being used extensively in developing economies.
Fundamental Analysis
Stellar is a strong layer-1 blockchain with a network capacity of 1000 transactions per second. It is a large-cap cryptocurrency with a market cap of $2.85 billion. XLM ranks 33rd in terms of market cap.
As compared to other peers XLM is much more accessible and efficient. There is easy access to on and off-ramps, AMMs, and DEXs are available to a broader set of users.
Further, Stellar is being used extensively in developing regions like sub-Saharan Africa, where the ClickPesa Debt fund has been empowering women entrepreneurs. The fund is built on the Stellar blockchain and is created using Stellar’s smart contract platform Soroban.
This crypto went from $0.02 to $1.15 in the last year. One of the fastest growing altcoins.
Stellar also has its own token development tool to help you create a token on its blockchain in a few seconds.
Technical Analysis
Stellar has shown the formation of a descending triangle on the daily charts. The pattern is about to be complete with a potential breakout by the end of September 2024.
Further, both XRP and MACD show that there is a strong potential for an upcoming rally. XRP has been in an uptrend since the 7 September and at press time, is at 54. MACD too has shown a positive divergence(crossover) on 10 September and at present, the indicator is still in the divergence mode.
This indicates that XLM might see more bullishness in the next few weeks.
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Stellar Price Prediction
We expect XLM to cross $0.15 by the end of 2024 and cross $0.9 by 2030 or perhaps $1 if the crypto regulations are supportive.
Price Prediction 2024
By the end of 2024, we might see XLM around $0.15 based on current markets. However, if altcoin markets rally, it might even cross $0.20.
Price Prediction 2025
If altcoin seasons pick pace, we might see a price of $0.25 in XLM. The bearish price estimated for 2025 is $0.2.
Price Prediction 2026
As altcoin markets are expected to peak by early 2026, we might see XLM grow high to $0.4 levels. However, corrections in the later part of the year could bring it down to $0.35.
Price Prediction 2027
The year 2027 could prove bearish for XLM as it is expected to be a generally bearish year. XLM might correct to 0.3 levels.
This is because the crypto market cycle consists of four years, three bullish and one bearish year. The bearish year is usually the one preceding the halving year.
Price Prediction 2028
The pre-halving rally for the 2028 Bitcoin halving event could help XLM rise to $0.5 to $0.75 levels. Around the same time, the global market for decentralized money transfer solutions is also expected to rise to $363 billion, with an annual growth rate of 65%.
Price Prediction 2029
Typically, altcoin seasons pick pace a year after Bitcoin halving event and in the 2029 altcoin season, we estimate XLM to have grown to $0.75 to $0.9 levels.
Price Prediction 2030
The main game-changer for XLM in the long run would be the adoption of decentralized technology in the developing world which has already started with projects like ClickPesa Debt Fund.
By the turn of the decade, we expect XLM to cross the $0.9 or $1 mark.
