Major cryptocurrency Stellar (XLM) is poised for a massive bullish phase in the coming months, according to one analyst on X (formerly Twitter). The XRP alternative has experienced moderate gains in the first week of July, outperforming other coins in the crypto market, and is currently trading around the $0.24 valuation.
Scopuly, the X account in question, tweeted that XLM is continuing to post healthy gains in the short term and could rise above $0.5 by 2026. This move could result in Stellar owners experiencing a sizable 107% price increase from the current spot level.
In the short term, Scopuly stipulated that the cryptocurrency needs to make a solid move above $0.252 to get a clear golden cross, and that hasn’t happened yet. A decisive move is expected to shift the favour completely in favour of the bulls and open the market up considerably.
Stellar’s Recent Price Action
Here is the price action of XLM/USD for the last 3 months:
Image Source: TradingView
The graph clearly shows that the digital currency reached its peak recently, in mid-May, when it reached a value of nearly $0.34. However, the short-term bears came into play soon afterwards and have since pulled it back effectively over the last 6-7 weeks. Now, the situation has started to change again, and July could be a game-changer for XLM. The next few weeks are expected to be crucial in this regard, and XLM investors are expected to keep a keen eye on the graph during this time.
What is Stellar?
Stellar’s XLM and Ripple’s XRP are rival cryptocurrencies aiming to make a significant impact on the global online payment ecosystem. While the latter has partnered with banks to facilitate transactions following a protracted legal saga, the former is also seeking to establish strong alliances, including a highly anticipated agreement with PayPal.
If this move proceeds and PayPal deploys its payment system on the Stellar Network, it could create a significant utility for XLM, and traders could bet heavily on it.
XRP vs XLM
However, XLM has lived in XRP’s shadows for a long time. The latter’s legal victory over the SEC was significant, and its market capitalization currently exceeds $130 billion, while XLM’s is just $7 billion. While this does show considerable potential for XLM, it also shows greater market acceptability for Ripple’s coin. It will take a monumental effort from XLM to catch up to XRP’s global impact.
