A lot of people keep close eyes on prices across different cryptocurrencies, assets, and tokens. In the case of the Stellar price, the current momentum looks relatively promising. A strong uptrend has materialized over the past 24 hours, pushing the XLM closer to the $0.25 mark. A very positive trend which seems to materialize at the most opportune time.
Stellar Price Follows XRP’s Momentum
Over the past year, the correlation between XRP’s price momentum and that of Stellar has become a lot more important. Both XRP and XLM appear to rise in value at the exact same moment, although the intensity of these gains can be very different. Right now, XRP is blazing through the resistance levels, whereas the XLM price is going through the motions in a far more controlled and sustainable manner.
In the cryptocurrency world, massive gains cannot be sustained for long. That is how things have gone for most of the time until late 2017. It now seems late 2018 is shaping up to be another firecracker, assuming the Stellar price can sustain these gains moving forward. Based on its current trading volume of $130m, that should not necessarily pose too many problems, all things considered.
For those who are wondering why this interest in XLM is soaring, it is not difficult to find. Circle Invest, the popular mobile investing application, has been adding a few new currencies to its platform this week. Those currencies include XLM, as well as EOS, Qtum, and the 0x token. A very interesting turn of events which can potentially expose a lot more investors to this particular asset.
— Stellar Reddit (@RedditStellar) September 21, 2018
Whiteginger sees things a bit differently. Although popularity boost form Circle Invest will not be denied, this user is confident XLM is one of the currencies to go through an even more bullish phase in the near future. This is primarily because XLM is one of the coins “making the world a better place:. A rather unusual sentiment in this volatile industry, although a nice change of pace.
Ok, I am not a #XRP fan. I love #StellarLumens #XLM is for good people to make the world better & is money for us to use. Light spirit pointed out: #XLM #DGB #LTC & some other good quality coins, also, they are helping a team create a new coin that'll be a huge success (What?)😇
— Whiteginger (@indigoonearth) September 21, 2018
Some community members are still not sure if they are actually asleep or awake right now. Kojo Casanova is an interesting example, as he seemingly did not expect any real XLM price momentum at this stage Considering how 2018 has been a terrible year for cryptocurrencies in the eyes of most, positive momentum was always going to be difficult to come by.
— Kojo Casanova 🇬🇭 (@KojoBoy_) September 21, 2018
With the weekend just around the corner, it will be interesting to see what the coming days hold for the XLM price. Sustaining this massive growth spurt may be challenging, although it is far from impossible. It would not surprise too many people if XLM’s market cap gets pushed up to $5bn again. If that were to happen, the remainder of 2018 will get a lot more interesting for this asset.