🪙Stellar XLM Price Could Go Parabolic Soon 🚀💰
Stellar price plunged in the last three weeks due to a risk-off sentiment brought forth by Fed’s interest decision for 2025. The $XLM price has formed a falling wedge pattern and found support at the 50-day moving average, indicating an eventual comeback as investors buy the dip.
Stellar Price has some bullish fundamentals that could push its price higher in the next few weeks. The first big thing is that Stellar and Ripple are often seen as ‘cousins’ since they target the payment industry. Also, Stellar’s founder, Jed McCaleb, is one of Ripple’s founder.
Therefore, Ripple’s performance could benefit the XLM price as it has previously done. As we wrote earlier, analysts are optimistic that the XRP price will skyrocket by 60% if the SEC approves a spot XRP fund. Another analyst expects the Ripple price to surge to $4 as Binance transactions rise.
Further, Stellar’s network is doing relatively well as the DeFi total value locked stages a slow recovery. DeFi Llama data shows that the Stellar Network had a TVL of over 135 million XLM, higher than last week’s low of 112 XLM.
Therefore, a combination of strong fundamentals and technicals may help the Stellar price rebound in the near term.
Another bullish case is that the XLM price has found support at the 50% Fibonacci Retracement level. This retracement links the lowest and highest levels in 2024.