What factors could push XLM to $0.22?


Stellar (XLM) is currently ranked 31st in the cryptocurrency market, with a market cap of approximately $3 billion. Analysts believe that XLM could experience a rebound and potentially reach $0.22 by the end of 2024. This article will explore the factors contributing to this positive outlook and highlight recent trends in the crypto market.

What Could Drive Stellar's Price Up?



  • Analysts' Predictions: Experts are optimistic that XLM could rise to $0.22 by the end of 2024. This prediction is based on Stellar's ability to enhance its international payment systems.

  • Key Partnerships: Stellar has been strengthening partnerships, notably with the Ukrainian government and VISA. These collaborations could significantly boost Stellar’s utility in the financial technology sector, especially for cross-border transactions.

Also Read: Ethereum Classic Price Prediction 2024-2030: Will ETC Price Cross $50?

The Impact of Bitcoin on the Market

  • Bitcoin's Price Movements: Bitcoin (BTC) has seen corrections throughout 2024, averaging about 10% over the past six months. August was particularly tough, with a 22% drop. However, Bitcoin has only fallen 7% in October so far, indicating a more stable market.

  • Future Gains: Researcher Axel points out that despite recent corrections, October could still bring gains for the crypto market. He notes that large buyers are waiting for the results of the upcoming U.S. elections in November, which could influence market sentiment.

  • Political Considerations: Axel believes a Republican win in the elections might lead to a market breakout, helping to lift prices.

Stellar's Current Performance

  • Recent Price Increase: Currently, XLM has seen a 1.5% increase in the last 24 hours, trading at about $0.0905. However, technical analysis shows that XLM is facing directional uncertainty, which means investors should be cautious.

Is October a Good Month for Stellar?

The term ‘Uptober’ has surfaced in the crypto community, suggesting that October could be a profitable month for cryptocurrencies, including Stellar. Despite market volatility, analysts like Axel remain hopeful for potential gains this month.

What Lies Ahead for Stellar?

With strong partnerships and the possibility of a market rebound influenced by political outcomes, Stellar (XLM) may be on the path to a price increase as we approach the end of 2024. Investors should keep an eye on market trends and news, as these could significantly impact Stellar's future.

For a more detailed XLM price prediction, stay tuned for updates and insights!

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