(Updated August 14, 2022) Stellar is an open-source blockchain platform that connects payment systems, banks and the people. It’s designed to move money quickly, reliably and at meager fees. Launched in 2014, the usability of Stellar has seen it rise the crypto charts rapidly.
Stellar XLM price hasn’t been performing that well over the past few days, however the recent update of the stellar blockchain stellar-core v11.4.0., promises to bring about the much-needed growth of XLM price. Nonetheless, 2018 was a very good year in terms of fundamentals with network activity and partnerships growing and playing an important role in the development of this digital asset.
Stellar Lumens Price Predictions
Traders, experts, and even our technical analysis indicate that we have a reason to stay optimistic about the price of XLM. In this piece, we are going to take a look at some of the reasons that could push the price of XLM and other altcoins higher as we move closer to the final quarter of the year. XLM price is currently occupying the 14th position on the coin charts with a market cap of just over $1.5 billion.
Back at the end of 2019, the Stellar Foundation reduced XLM’s supply by 50%, which pushed XLM price 20% higher. Despite Stellar burning half of its supply, it has received a lot of criticism from other analysts, experts and figures in the crypto market.
The Stellar Foundation is also working with non-profits providing funding for their projects and promoting the usage of virtual currencies.
Experts’ XLM Price Predictions 2019, 2020, 2021, 2022
There has been good news for all Stellar (XLM) holders, as experts predict a bright future for the coin. Below are expert opinions on why Stellar Lumens’ price will surge shortly.
A panel of professionals from the cryptocurrency sector, including CEOs, and the famous bitcoin developer, Jimmy Song, predicted massive gains for Stellar Lumen’s price. The panel stated that XLM could rise by as much as 260% from its current price, by the end of 2019. All panel members expressed high hopes for the coin’s price in the coming months.
WalletInvestor expects XLM price to rise to $0.2 before dropping to $0.01 by the end of the year. However, the price is expected to grow again to $0.2, and over the next two years, the price of XLM price will range between $0.01 – $0.02.
TradingBeasts predicts that XLM price will maintain a price of $0.06 until 2021. But, by May 2021, it will start to rise to reach $0.11 by the end of 2022.
Other factors driving XLM price include;
Creation of Interstellar
In another case that highlights the growing usability of the stellar network, Chain, a blockchain startup was recently acquired by Lightyear, the for-profit branch of the Stellar Development Foundation. The acquisition led to the creation of a new entity called Interstellar.
Since being founded in 2014, Chain has managed to raise over $40 million in private capital. It has also worked with companies such as Visa, Nasdaq, and Citigroup. The startup describes itself as a cryptographic ledger system that makes financial services smarter, more connected and more secure.
Interstellar will be headed by Adam Ludwin, the former RRE Ventures partner and founder of Chain. He will serve as the new project’s CEO while Jed McCaleb, Stellar and Ripple Cofounder will serve as the CTO of the project.
Commenting on the acquisition of Chain by Stellar, Ludwin said:
“All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, issuing assets on a local environment. By partnering with Stellar, you can fire an asset to another institution.”
Now, it seems Chain’s push for enterprise blockchain adoption is the reason why Stellar saw it fit to acquire the company. In a statement McCaleb said:
“Chain’s team has led the market for enterprise adoption of blockchain technology. It’s a critical component of building a future where money and digital assets move over open protocols.”
Stellar has a large number of projects and initiatives. This is because this is a project that continues to expand and attract investors from all over the world.
IBM’s Launch Of A Stellar Backed Blockchain World Wire Payments System
The good news keeps coming the Stellar way, and the recent adoption of the network by IBM promises to boost the fortunes of XLM price. In September, International Business Machines Corp. announced it was launching the Blockchain World Wire, a blockchain-based payment system that is backed by the Stellar protocol.
The platform promises to revolutionize cross-border payments according to IBM. It will operate similarly as Ripple’s blockchain settlement systems which use XRP to transfer large amounts of money across borders with little to no fess.
When the platform starts to operate officially, it will facilitate instant clearing and settlement of all transactions through the Stellar blockchain network.
IBM describes the new product as:
“IBM Blockchain World Wire, the new financial rail that can simultaneously clear and settle cross-border payments in near real-time. Integrating with your existing payment systems, you can replace costly opacity with affordable transparency – and that can bring greater financial opportunity to all.”
In addition to the work with IBM, It is also being rumoured that Fidelity may opt for the XLM blockchain in moving digital assets across its platforms. Although not confirmed, it must be said that many financial market price moves are defined by rumours.
If such a move came to pass, it would boost XLM price significantly, potentially even to the $1 level.
Addition On BitGo
At the start of October, BitGo, one of the leading crypto startups that offers custodian solutions announced that it was adding XLM and Dash on its list of cryptocurrencies. Customers can now generate wallets for both starting this month.
BitGo is one of the world’s most secure wallet providers. The new additions make it exciting for investors of both cryptocurrencies.
Mike Belshe, the CEO and founder of BitGo, said that the additions were due to their unique features that offer some advancements, especially around payments.
He adds that Stellar was a clear pick for the Startup as it narrowly focuses on providing global payments for more consumers. It’s something that differentiates it from Bitcoin. Unlike BTC which acts as a store of value, XLM focuses on transactions.
In addition to BitGO, positive exchange-based news came in the listing of the XLM token on the Hong-Kong based Coinsuper exchange.
Stellar price in 2020 and 2021
We also need to analyse Stellar’s price in recent years. We know that 2020 was a negative year in many aspects for digital assets, including XLM. However, it did behave better than other digital currencies in the world. This cryptocurrency was able to recover faster than others in 2020, which was very positive for this digital asset.
In 2021, things have changed for the entire market and XLM has been one of the most benefited digital assets during this bull trend. We see that XLM moved higher in 5 impulse movements that allowed the virtual currency to reach $0.07 per coin in mid-2021.
Despite the fact that this did not allow Stellar to reach a new all-time high, it was very positive for it. Indeed, it made it possible for this cryptocurrency to leave a bear trend and an accumulation period behind.
We also see that the coin has also established support in different regions and this could help the virtual currency maintain its price in the coming months and weeks. However, there are many things to take into consideration when it comes to Stellar.
There must be a push from the Stellar Foundation in order for this virtual currency to become adopted around the world. If not, this coin might not be able to deal with future challenges. There are many other projects that are attracting a large number of investors and this could be negative for Stellar in the coming years.
Stellar Lumens XLM Price Prediction TradingView Analysis Updated August 14, 2022
This analyst is doing an XRPUSDT/XLMUSDT analysis, showing that it might be possible for XLM to be stronger in the near future compared to XRP. The analyst shows that XLM could move from 2.76 XLM to 0.50 XLM in the near future (next few weeks).
The analyst says that Stellar could become stronger than Ripple with some pullbacks along the way. This is very important as it could be a good moment for investors to look for better investment options considering these two coins are very similar in terms of technology and solutions offered to users.
For this expert, XLM is, at the moment, very close to the 0.618 Fibonacci retracement level of the huge impulse wave from 2020 to 2021. Therefore, there could be volatility in the near future. Moreover, he explains that the price is close to a massive horizontal support line from 2020, which could provide some support for this digital asset.
Furthermore, he considers that there could be a last wave to the downside in order to finish this downtrend and then there could be a retracement back to 0.25 USDT for this digital currency. Moreover, according to his Elliott Wave analysis, an impulse wave to the downside is almost completed. It is important to also have a look at the volume indicator and see that there is no bearish pressure. The profit target is currently at 0.25 as the expert said.
This cryptocurrency analyst says that XLM is very close to the 0.618 Fibonacci retracement level of the huge impulse wave from 2020 to 2021. Furthermore, he explains that the price is getting closer to a massive horizontal support line from 2020 which is worth paying close attention to.
Additionally, as we can see in this Elliott Wave analysis, there is an impulse wave to the downside that has almost been completed. This move downwards could help XLM start a fourth wave and push the price higher towards the profit target at the high liquidity area close to 0.25 USDT.
Finally, if the digital currency starts moving lower, then we have a strong support price level at 0.0882 USDT. This would help the cryptocurrency stay above this key level. If the market continues to fall, XLM could be protected.
For the XLM/USDT trading pair, this analyst shows that, like hte rest of the crypto market, Stellar Lumens remains within a bear trend. This bear trend started in 2021 as Bitcoin and other digital currencies hit new all-time highs. The analyst explains that despite the recent gains experienced by this virtual currency, there are clear lower lows in the daily chart.
Furthermore, he explains that XLM’s outlook is bearish for the coming weeks at spot rates. At the same time, the upside for this digital currency is limited at $0.13, last week’s highs. Despite that, bulls are optimistic about the price of this virtual currency moving above $0.12. If that happens, the next price level to look at would be $0.13, as a new bull run could start in the near future if Bitcoin recovers from the bear market in which it currently is.
This XLM/USDT cryptocurrency trading expert shows that XLM is in a bear trend (descending channel) that started in mid-2021 and that has pushed the price of this virtual currency below a key support level that ranged between 0.125 USDT and 0.13 USDT per coin. This came after the strong sell-off experienced by the entire cryptocurrency market in recent months and that can be related to different things.
The expert has also drawn some other important support levels for XLM that are the following: 0.084 USDT, 0.0711 USDT and 0.06 USDT. Several analysts consider that the whole cryptocurrency market could continue to move lower. If that happens, there will also be strong pressure on XLM and other digital currencies. It will be very important for this coin to follow what happens with other digital currencies and investors should be prepared for it.
Want to learn more about Stellar XLM? Read our Beginner’s Guide to XLM, complete with a history of the project and fundamentals of how the coin provides value. A search for Stellar on our site will bring up the latest XLM articles like Weiss Ratings giving Stellar XLM a “buy” rating.
If you’re interested in buying Stellar, you can learn how to buy XLM on Binance, our suggested exchange for new cryptocurrency investors.