- Stellar (XLM) has surged in trading volume by 16%, signaling strong investor interest and potential for a bullish breakout.
- Outpacing rival XRP, Stellar is gaining momentum with technical indicators pointing toward a possible move to $0.50.
Stellar Heats Up with 16% Volume Spike
Stellar (XLM), a long-standing rival to XRP, is making waves in the crypto market with a notable 16% surge in trading volume. According to CoinMarketCap, over $297 million worth of XLM changed hands in the last 24 hours, signaling renewed investor enthusiasm. Although the price has seen only a modest uptick—currently trading at $0.3013 after peaking at $0.3117—market dynamics suggest that XLM might be gearing up for a significant breakout.
Technical Indicators Hint at a Breakout
The latest rally aligns with bullish technical signals for Stellar. Analysts believe XLM is nearing a volatile breakout point, especially if the increasing volume trend continues. Market participants are now closely watching the $0.30 support level. Holding above this mark could pave the way for a push toward the coveted $0.50 level.
Crypto strategist Ali Martinez cautions that any dip below support could stall the momentum, but the overall sentiment remains optimistic.
Stellar Outpaces XRP in Market Action
Interestingly, while Stellar gains ground, its rival XRP appears to be losing steam. XRP’s trading volume has dropped by over 13%, a stark contrast to XLM’s rising traction. Data from CoinGlass highlights growing bullish bets on Stellar, with open interest climbing 2.16% in the futures market. Over 587 million XLM tokens, valued at $178 million, are currently locked in futures positions—underscoring the strong belief in XLM’s upward trajectory.
Bullish Wave Building Around XLM
With positive sentiment flooding the altcoin market, Stellar is well-positioned to capitalize on the current bullish wave. If momentum continues and volume remains high, XLM may soon rewrite its short-term price narrative. All eyes are now on whether XLM can maintain its momentum and fulfill the technical potential hinting at a $0.50 surge.
