Stellar (XLM) has maintained an upward trajectory over the past seven days.
Bitcoin’s latest surge above $100,000 led altcoins to a major rally, extending XLM’s weekly gains by over 40%.
Stellar is up about 3% on the daily chart and appears poised for a further uptrend.
Meanwhile, the prevailing bullish momentum is fueling discussions that XLM prices will reach $2 in 2025.
Factors such as strategic collaborations, market trends, and real-world utility are driving XLM’s impressive growth.
XLM price
The alto is trading at $0.4549 after rising 41% over the past week.
XLM is faltering in front of vital resistance that could impact its near-term trajectory.
Stability above the $0.456 barrier could trigger a rise to $0.548.
Bulls will likely aim for the $0.575 target, which is 26.39% above XLM’s current price.
Such trends could lead to new peaks above $2 by early February.
However, seller activity in the $0.456 area could be a catalyst for recovery.
Bears will target the strong support zone in the $0.356-$0.340 range.
Technical indicators indicate that XLM needs to turn $0.456 into support to maintain the bullish momentum.
Broad rallies will support a bullish move past nearby resistance to new highs.
Popular analyst JAVON MARKS believes that the price of XLM could surge like it did in 2017 and reach $6-$9 territory in the upcoming sessions.
$XLM (Stellar) could still be poised for a long-awaited breakout similar to 2017, and with prices repeating this trend, a breakout could result in over 11X (a 1100% gain) from here to the $6 to $9 levels! A major move could be on the horizon…
What is driving the development of XLM
The prevailing dynamics of Stellar reflect the sentiment of the broader market.
Cryptocurrencies have rebounded amid rising optimism ahead of Donald Trump’s inauguration, which is expected to host the most pro-cryptocurrency convention in history.
Crypto enthusiasts expect regulatory clarity under Trump’s leadership.
Former SEC Chairman Gary Gensler has discouraged the growth of assets like XRP due to ongoing legal issues.
XLM often mimics XRP’s trends due to its similar role and history in the cryptocurrency market.
The duo is involved in global money transfers. Stellar founder Jed McCaleb was also one of the founders of Ripple.
Thus, changes in US legislation will likely lead to significant growth in assets such as XLM.
In addition, Stellar continues to strengthen its position in the crypto space using various approaches.
For example, a project with MoneyGram to improve the efficiency of fiat cryptocurrencies.
Cash to cryptocurrency, activated @MoneyGram and built on Stellar 👇 stellar.org/moneygram
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In addition, asset manager Franklin Templeton used the Stellar blockchain to reduce costs and improve operational efficiency.
Moreover, the World Bank and the United Nations have endorsed Stellar, strengthening the crypto project’s role in international money transfers.
Strategic collaborations and support from financial giants underscore Stellar’s commitment to disrupting the global payments sector while driving adoption.
In conclusion, Stellar is showing sustained bullish momentum supported by technical indicators, market trends and strategic collaborations.
While cryptocurrencies remain unpredictable, XLM bulls appear poised to break through key $2 resistance in the coming months.
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