Stellar Price Performance for XLM as Its Price Soars 15%

• XLM’s price has soared 15 percent over the past 24 hours.
• The token has also strengthened against and .
• Bullish flag forms on XLM’s daily chart with the 9 EMA crossing above the 20 EMA.

Stellar (XLM), a fork of the (XRP) token, has seen its price soar over the last day according to the crypto market tracking website, CoinMarketCap.

At the time of writing, the price of XLM is standing at $0.1295 following a 12.48 percent rise against the U.S. dollar. However, the price of XLM has dropped slightly today as it was able to set a daily high of $0.1323, which is around a 15 percent price increase for the day.

Furthermore, XLM has strengthened against Bitcoin (BTC) and Ethereum (ETH) by 9.87% and 6.79 percent respectively. As such, one XLM is worth 0.0000067 BTC and 0.00009648 ETH.

Stellar is currently ranked number 24 on CoinMarketCap’s list of the biggest crypto projects in terms of market cap. This ranks it under Chainlink (LINK) with its market cap of $3,551,866,048 and above FTX Token (FTT) with its market cap of $3,194,004,230.

Trading activity has also picked up for XLM in the same time period, rising 53.51 percent to push the figure up to $392,293,839.

Daily chart for XLM/USDT (Source: CoinMarketCap)

The price of XLM has entered into a drastic move upwards in the last two daily candles after a slight pullback to the 20 Exponential Moving Average (EMA) line. At the moment, the price of XLM is positioned above both the 9 and 20 EMA lines, which has also formed a bullish flag with the 9 EMA line crossing above the 20 EMA line.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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