Stellar $XLM Soars 27% in One Week: What Drives this Rally?
The cryptocurrency Stellar $XLM has experienced a surprising 27% increase in just one week, reaching a price of $0.3641. What is behind this surge? Here are the key drivers:
- Update of Protocol v23: The recent update of Stellar Core protocol v23.0.0rc2 has introduced significant improvements, such as parallel transaction execution and state archiving in Soroban, generating bullish expectations.
- Institutional Adoption with PayPal: The integration of the stablecoin #PYUSD into Stellar will expand its reach to over 170 countries, facilitating fast and low-cost transfers. This has attracted institutional accumulation and increased trading volume.
- Breakout of Resistances: $XLM has surpassed critical resistance levels, establishing them as new supports. The structure remains bullish with an immediate target at $0.30.
What's next for Stellar?
Analysts predict that a sustained close above $0.285 could drive XLM towards $0.40 in the short term. However, volatility will persist pending the successful activation of protocol v23 in August and the operational implementation of PYUSD in Stellar.
Conclusion
The surge in Stellar reflects how technical improvements and strategic alliances can catalyze rallies in the crypto market. With its real utility and growing institutional adoption, Stellar remains a magnet for smart capital.
