Stellar (XLM) Price Prediction: Can It Break $2?

Bittime - Stellar (XLM) is up 35% in the past week. Currently, the price of XLM is at $0.451 with a daily increase of 3%. 

With the bullish trend continuing, can XLM price break $2? Read this article to find out the price prediction for Stellar (XLM)!

Stellar (XLM) Price prediction: Current Price Trends

Currently, Stellar (XLM) is testing an important resistance level at $0.456. If this level is successfully broken, the Stellar (XLM) price prediction may rise to $0.548 to $0.575. If it fails, XLM will likely fall to the support level at $0.356 or even $0.340.

Technical indicators suggest that to maintain upside momentum, XLM needs to turn the $0.456 level into support. Failing that, a price correction could occur in mid-January, and possibly continue into early February.  

Read Also: Why is Stellar (XLM) overlooked, see the explanation!

Long Term Stellar (XLM) Price Prediction

For Stellar (XLM) price predictions long term, some analysts expect a major recovery. 

Based on Fibonacci retracement analysis, XLM has the potential to experience an increase of up to 1,700% as happened in the 2017 bull market. In this scenario, the price of XLM could reach $8.30 or even $11 in a continued bullish cycle.

The $2 target is considered realistic, especially if this bullish momentum continues. Some even suggest that the $2 level could be reached in Q4 2025, provided key resistance is overcome.

Stellar (XLM) Price Prediction: Open Interest

Open Interest for the XLM futures contract also showed a significant increase, reaching $292.29 million with an increase of 5.66%. This shows increasing investor interest in Stellar as one of the top altcoins.

From a technical perspective, the RSI XLM index is at 60 on the 4-hour chart, which indicates moderate bullish momentum. If the RSI continues to rise, this could be a strong signal for investors to continue buying.

Read Also: How to Create a Stellar Wallet

Stellar (XLM) FAQs

What is Stellar (XLM)?

Stellar is a blockchain designed to facilitate fast, low-cost cross-border asset transfers. The native token of this asset is XLM, which is used to pay transaction fees and as a means of exchange within the ecosystem.

How Does Stellar (XLM) Work?

Stellar (XLM) works by utilizing a decentralized network that connects users and financial institutions. The protocol enables automatic conversion between crypto assets to make cross-border transactions easier.

How is Stellar (XLM) different from Ripple (XRP)?

Stellar (XLM) and Ripple (XRP) have similarities in facilitating cross-border payments. However, XLM is more focused on financial inclusion and individuals without banking access, while XRP is aimed more at financial institutions and banks.

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Reference

Coingape, XLM Price Forecast: Is $2 Target Achievable for Stellar Bulls?, accessed January 8, 2025.

Author: IPR