Stellar (XLM) Could Potentially Break Out Amid Predictions of Widespread Crypto Decline, Says Analyst

Key Points

1. Stellar (XLM) is forming a symmetrical triangle pattern, indicating a possible breakout with a target price of $1.51.

2. XLM outperformed Ripple’s XRP during the July rally and is currently ranked 16th by market capitalization.

3. Peter Brandt predicts that 95% of cryptocurrencies will lose all value, citing historical trends of failed assets.

4. XLM's breakout could be confirmed by increased trading volume and a daily close above the triangle boundary.

5. Despite a recent 4% weekly decline and a 16% drop from its July peak, XLM's overall momentum remains strong.