(Updated October 09, 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 October 09, 2021
When analysing the XLM/USDT trading pair, the analyst shows that XLM started corrections just like any other cryptocurrency in the market. At the same time, after some time of consolidating it tries to surpass some resistance areas and it gets continuously rejected. This is where the analyst believes that we are now with XLM.
Most coins, he says, are currently forming bullish triangles. Bitcoin could eventually cross and surpass new all-time highs, and this is something that altcoins should be closely following. XLM could eventually surpass its local resistance at 0.40 USDT, breaking through key resistance at 0.50 USDT and reaching its strong resistance level at 0.65 USDT.
For the XLM/USDT trading pair, the expert shows that the market is terrified. This is the only reason for the sluggishness of Bitcoin (BTC) and other virtual currencies in the market, including XLM. As he explains, Stellar is a good virtual currency with an acceptable foundation. The recent price drop represents a good buying opportunity to make a profit in the coming days.
As he shows, the entry point for this digital currency should be 0.2845 USDT. The support levels are currently at 0.2637 USDT, 0.2347 USDT and 0.2153 USDT. Furthermore, the resistance levels in the coming weeks are at 0.2962 USDT and 0.3113 USDT. The main targets for this analyst include 0.3422 USDT and 0.4043 USDT.
For this analyst, XLM looks good. The expert shows that XLM has been moving higher over the last few months. This has allowed the virtual currency to reach a high of 0.80 USDT. At the same time, he considers that it is possible for XLM to move towards a new all-time high in the near future.
In addition to it, the analyst shows that XLM looks very good with the MACD indicator moving higher as well. At the moment, XLM is experiencing some resistance close to 0.42 USDT. However, if the market continues to move higher, it might be possible for the virtual currency to break through it and reach new highs this year.
XLM is now sharing the same pattern as other virtual currencies in the market. It has been moving higher for several weeks and now it seems to be in a bull flag. Rather than making lower lows, it seems that XLM made a double bottom, as shown by the analyst in the chart.
As he says, we should focus on the current price action and watch the 4-hour chart where there is a triangle or pennant that is currently being formed. Furthermore, the price sits on the EMA 200 at the 4-hour and it might be possible for XLM to bounce from here (he had a look at the stochastic momentum).
Now, Bitcoin might go down in the near future as well, which could drag other altcoins to a new correction.
For the XLM/USDT trading pair, this analyst shows that XLM has broken up from a falling wedge and started a parabolic move towards a very important resistance level at 0.37 USDT per coin. As the expert says, XLM wakes up as soon as it smells XRP around. This is why, in the coming days, there might be a move upwards once again.
As we also see, XRP also moves according to what Bitcoin (BTC) does. The largest virtual currency has been growing for several weeks now and it could continue doing so in the next few days. This could help XLM and other cryptocurrencies in the market.
As we can see, the virtual currency is also following the trend that Bitcoin is currently following.
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.