- The XLM token has been in a strong bullish trend in the past two weeks.
- Stellar partnered with Coinme, a leading crypto technology company.
Stellar price has made a strong bullish comeback in the past few days. The XLM token jumped to a high of $0.096, the highest level since March 22. It has jumped by ~29% above the lowest level in March, giving it a market cap of more than $2.5 billion.
Stellar ecosystem growth
It is unclear why Stellar lumens price has jumped in the past few weeks. A likely reason for this is because of its close correlation with Ripple. As I wrote on Monday, Ripple has jumped in the past few days as investors bet on the conclusion of the ongoing SEC vs Ripple case.
Stellar has not been mentioned during the lawsuit but the two companies have a history. For one, Stellar was started by Jed McCaleb, who also played a part in the creation of Ripple. Further, the two networks have a similar goal of making it easy to move money internationally. Ripple uses the XRP coin while Stellar uses the USDC stablecoin.
Read more: How to buy Stellar Lumens.
The other Stellar news is news that Coinme had integrated Circle’s USDC in its ecosystem. Coinme is a leading crypto company that provides API technology to companies in the industry. It is an exchange that has a footprint of over 40k locations globally.
The new partnership means that users will be able to send the USDC stablecoin free for peer-to-peer transactions. As a result, the platform will help users save cost and boost reliability in the industry. The statement added that:
“USDC on Stellar already provides near-zero transaction fees and settlement in seconds, yet this integration makes it even simpler to cash in and cash out from Coinme locations around the United States. What Coinme has accomplished is inspiring to the rest of the blockchain industry.”
Stellar price prediction
The 4H chart shows that the XLM crypto price has been in a strong bullish trend in the past few weeks. It has moved above the 50-period and 25-period moving averages. Stellar has also moved above the ascending trendline shown in black. Further, the MACD has moved above the neutral point while the price is approaching the key resistance point at $0.0980.
Therefore, Stellar Lumens price will likely continue rising as buyers target the key resistance level at $0.15. This view will be confirmed if the price manages to move above the key resistance level at $0.098, which was the highest point on February 23rd.
