Stellar (XLM) Could See 35% Rally Amid Strong Correlation With XRP and Ascending Triangle Pattern

Key Points

1. XLM is trading within an ascending triangle formation, with resistance near $0.52, indicating potential for a 35% breakout to $0.63.

2. Technical indicators like the 4-hour RSI and upward-trending EMAs support the bullish outlook for XLM.

3. XLM's price action closely mirrors XRP, with a strong historical correlation, suggesting XLM could benefit from XRP's momentum.

4. A favorable court ruling for Ripple in July 2023 triggered a 60% surge in XRP, followed by a similar rally in XLM, highlighting their interconnected price movements.

5. Investor sentiment and market dynamics, including shared investor profiles and regulatory developments, reinforce the correlation between XLM and XRP.