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Stellar Lumens (XLM), the crypto heart of the cross-border payments-oriented Stellar Network, has reclaimed its position as the top-performing digital asset in the top 100 by market cap over the recent 24-hour cycle, showcasing a rally above 24%.
Trading at nearly $0.16, XLM stands elevated amidst a wider surge in select altcoins such as Optimism (OP), XRP (XRP), Maker (MKR), and BitDAO (BIT), all witnessing gains of around 10% in the last 24 hours.
Despite the recent rally, XLM is yet to challenge the heights of $0.20 it reached last week in the wake of the favorable XRP ruling by US Judge Torres.
Bullish trends persist, reflected in the robust trading volumes of XLM. Over the past 24 hours, approximately $700 million in XLM trades took place across major crypto exchanges, according to CoinGecko.
Stellar has recently partnered with Fonbnk to transform 8 billion active prepaid SIM cards worldwide into virtual debit cards, aiming to support Africa's 350 million unbanked individuals. This move is expected to contribute to the rally, along with the positive sentiment from the XRP-related news.
350 million people in Africa don't have access to bank accounts, and only 20% of families have formal bank accounts.@fonbnk1 provides a real-world solution to this problem by turning 8 billion active prepaid SIM cards globally into virtual debit cards with Stellar. (1/3)
— Stellar (@StellarOrg) July 18, 2023
Future Price Prediction for Stellar (XLM)
In terms of price prediction, XLM is looking strong technically. It stands well above its significant moving averages, and last week's surge saw it surpass key resistance points, including a mid-2022 downtrend and the early 2023 double-top.
Assuming bullish control persists, XLM is predicted to approach its next major resistance between $0.237-248 soon. This projection indicates potential short-term gains of about 50% from the current levels.
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