Stellar Looks Strong, XLM Price Eying a 396% Surge to $1.29: Analyst

Stellar Lumens (XLM), the native cryptocurrency of the Stellar blockchain, is making waves in the crypto market as analysts forecast significant price movements for its near term price trajectory. 

In a recent X post, prominent crypto analyst Javon Marks shared an optimistic outlook for XLM with predicting a potential rally that could see its price soaring by more than 396% and reach $1.291819, a specific price level forecasted on the basis of its historical price actions. 

This bold prediction comes on the heels of an earlier 564% surge that brought XLM close to a $0.681 target. This price hike highlighted XLM’s strong momentum and growing investor interest as the altcoin market heats up. 

Marks believes the token is poised for another significant move with him suggesting a potential 161% increase that could bring XLM back to the $0.681 level. Further, any breakout above this resistance could propel it to $1.291819 – a level that would mark a staggering 396% gain from its current price.

Beyond technical indicators, Stellar’s fundamentals are also providing a strong foundation for XLM’s potential growth. 

At the time of writing, XLM price is trading near $0.2544 – up 4.77% in the past 24 hours. It has a 24 hour trading volume of $205.9 million which has increased nearly 144% today. 

Stellar (XLM) Price Surges 4.77% – Source: CoinMarketCap

The Stellar blockchain, launched in 2015, is designed to facilitate low-cost, cross-border transactions, connecting people, banks, and payment processors with minimal fees and near-instant settlement times. XLM, or Lumens, serves as the native token of the network, acting as an intermediary for transactions and helping to reduce costs further.

Being one of the oldest cryptocurrency networks, Stellar’s real-world applications are gaining traction, particularly in financial services. Its partnerships with major financial institutions like Franklin Templeton – which manages over $270 million in assets through its OnChain U.S. Government Money Fund on the Stellar network – demonstrates its growing adoption. 

Additionally, Stellar’s collaborations with firms like Mastercard aim to enhance the security and mainstream acceptance of digital transactions using XLM.