- Stellar Lumens price has been in a strong bullish trend lately.
- Focus now shifts to the upcoming Meridian Conference.
Stellar Lumens price continued its rebound ahead of the upcoming Meridian Conference in Milan, Italy. XLM rose to a high of $0.1266, the highest level since September 13. It has risen by more than 27% from the lowest level this year, giving it a market cap of over $3.2 billion.
Meridian event ahead
Stellar is a leading blockchain project in the payments industry. It was created by Jed McCaleb, who is known for being a co-founder of Ripple Labs and Mt. Gox.
Stellar is widely used by some of the leading companies in financial services such as MoneyGram, Wyre, SatoshiPay, and Coinqvest among others.
It has been used to help solve challenges in the fintech, remittances, cross-border transfers, and the creation of Central Bank Digital Currencies (CBDCs) among others.
One of its key products in Stellar’s ecosystem are USD Coin, which is the second-biggest stablecoin in the world after Tether. USDC has a total market cap of more than $46 billion.
The next key catalyst for the XLM price will be the upcoming Meridian event hosted by Stellar at the Palazzo Brancaccio in Rome, Italy. This year’s event is themed as “The Urgency of Doing.
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It will feature some of the top people in the financial industry. For example, Alexis Ohanian, the founder of Reddit and Seven Seven Six will be a key speaker. Other top speakers are Caroline Pham, a CFTC Commissioner, Alex Holmes of Mastercard, Marieke Flament of Near Foundation, and Alex McDougall of Stablecorp.
Historically, these events have formed a good place for blockchain networks to make major announcements. For example, Chainlink announced that it will partner with SWIFT at its recent event. Similarly, Sweat Economy was launched during the recent NearCon Conference. Therefore, there is a likelihood that Stellar will make announcements at the Meridian.
Stellar price prediction
The daily chart shows that the XLM price has been in a strong bullish trend in the past few days. In this period, the coin has moved above the 25-day and 50-day moving averages. The Relative Strength Index (RSI) has been in an upward trend.
Meanwhile, the Stellar Lumens price is approaching the important resistance level at $0.1342, which was the highest level on September 23rd. Therefore, the coin will likely continue rising ahead and during the Meridian event this week. If this happens, the next key level to watch will be at $0.15, which is about 18.5% above the current level.
