(Updated July 17, 2021) 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 Lumens XLM Price Prediction TradingView Analysis Updated July 17, 2021
The digital currency XLM has bounced against Tether (USDT) on weekly support and have had a breakout from a descending channel that has been shown in the chart. If the price will have a breakout from the current resistance level, then it will test a new support.
As explained by the analyst, there is a possibility to set a nice order for this trading pair and start getting closer to 0.31 USDT in the near future. However, it will definitely depend on Bitcoin and the entire market depending on how it moves. At the same time, he explained that we should also have a look at the weekly, daily and monthly charts.
The XLM analyst shows that XLM is currently in an ascending triangle and the pattern looks generally bearish. Thus, we have seen that several analysts are now showing bearish signs on most of the virtual currencies in the market. However, there is no clear information about how far it can yet drop.
He shows that the virtual currency has already touched point D of an ABCDE pattern that could end at a meet point E close to 0.31 USDT per coin. This should be the moment just before the move downwards for this virtual currency. Understanding the way in which Bitcoin moves is also going to be definitely important.
As the expert shows, XLM has failed 5 times to stable above the powerful resistance that we currently see at $0.34725. Back on June 15, the analyst explained that there were two possible scenarios. The first one would be to break through the resistance and close above the $0.348 price level, something that could push it higher towards $0.4.
However, the second possibility was to break down to $0.327. The virtual currency did not only reached the support level of $0.327 but it has also fallen even harder to $0.296 per coin. This XLM analyst believes that the direction is not clear enough to understand which could be the next move.
The analyst for the XLM/USDT trading pair explains that he sees that bulls might be ready for the XLM virtual currency. As he explains, XLM has recently had a triple-bottom in three areas that have been shown in the article. Then he says that after the last low point the digital asset has formed a bear flag but the situation returned to the bullish territory.
In addition to it, there has also been an inverse bull flag now that could end in the near future. Finally, he explains that there has been a break down from a major trendline that has started around May 18th and that ended on May 24th.
This analyst couldn’t anticipate the recent price action experienced by XLM, which corrected several months of expansion in just a few days. XLM was in an ascending triangle that has been working as support and resistance with a growing volume over the last few weeks.
However, the expansion ended for XLM, at least in the short term, after the recent correction experienced by XLM and other virtual currencies. We also see that Bollinger bands show us that there has been a lot of momentum in terms of the recent price decrease and we need to wait some more days to see a stabilization.
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.