Stellar (XLM) reached highs last seen in April 2022
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The recent surge in XRP's price, driven by favorable regulatory developments and increased whale activity, has also positively impacted XLM. XLM mirrored XRP price action surging from lows of $0.14 to $0.243, a 73% spike in Saturday's trading session, printing a giant green daily candlestick.has profited from the current bullish market momentum, with XLM increasing from a low of $0.09 on Nov. 4.
At the time of writing, XLM was still up 34% in the last 24 hours to $0.20, and up 85% for the week per CoinMarketCap data. XLM is presently ranked as the 23rd largest cryptocurrency with a market cap of $6.16 billion. If Stellar sustains its positive trend, traders should expect further upward movement, although caution is advised given the potential for profit-taking at higher levels.
In the short term, key resistance levels to watch are $0.25 and $0.27, with support around $0.20. If the rally continues, XLM may see more increases, potentially reaching new highs at $0.443 and $0.80 in the following weeks.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends.
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