- Stellar Lumens (XLM) is outdoing Ripple’s XRP.
- After the XRP lawsuit declaring XRP not a security, both assets have surged in value.
- However, XLM is beating out the performance of XRP and other top 20 cryptos.
Stellar Lumens (XLM) has experienced a remarkable surge. Despite XRPs epic rally following the XRP lawsuit, XLM is beating it. Specifically, XLM is outdoing other top 20 altcoins in the last 24 hours, with a smashing 24% increase.
Presently, Stellar Lumens (XLM) is trading at $0.17. For many, XLM’s short-term bullish outlook suggests the potential for further gains, with analysts eyeing a possible test of $0.2.
The recent surge in XLM follows the bullish momentum in the crypto market after the favorable ruling of the long-standing lawsuit involving XRP. Stellar Lumens (XLM) benefited from the positive sentiment and reached highs of $0.19 last week.
While XRP has also seen a price increase of about 5% in the last 24 hours, XLM stands out as the best-performing altcoin among the top 20 digital tokens. The rise in XLM can be attributed to several factors. This could include technical indicators and positive developments in the Stellar ecosystem.
A recent partnership between Bitso, the leading exchange in the Latin American region, and the Stellar Development Foundation aims to enhance international payments. The integration of Stellar’s Anchor Network allows companies worldwide to make USDC payments across Latin America. It will start with Mexico, Colombia, and Argentina.
The current bullish outlook for XLM is underpinned by the technical picture and the scarcity of the Lumen native crypto XLM. Unlike proof-of-work coins like Bitcoin, XLM’s consensus method settles transactions in 2-5 seconds, making it faster and more efficient.
Additionally, the fixed supply of approximately 50 billion Lumens contributes to its value over time. This increases the demand for the Stellar platform. As the world embraces globalization, Stellar Lumens (XLM) becomes increasingly attractive due to its focus on facilitating cross-border transactions.
This makes the project a particularly shiny one for the unbanked population. While Ripple caters more to banking institutions, Stellar targets the unbanked. As a not-for-profit company it provides a universal open-source system for digital money.
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