Renowned trader Peter Brandt has identified Stellar (XLM) as primed for significant bullish momentum should it breach key technical resistance. Brandt emphasized XLM must maintain critical support above $0.20 and achieve a monthly candle close exceeding $1 to confirm escape from a long-term consolidation pattern, potentially triggering an ascent toward $7.20.
Market analysts note XLM’s notable price correlation with Ripple’s XRP, which recently achieved a record high near $3.65. However, caution persists due to substantial derivative exposure reflected in XLM’s Open Interest approaching $600 million, heightening volatility risks near-term.
Fundamentally, Stellar advances Protocol 23 upgrade preparations, slated for Mainnet vote on August 14. This update promises significantly faster transactions and reduced transaction costs across the network.
Ecosystem enhancements bolster utility as PayPal’s PYUSD stablecoin integrates directly with Stellar for global payments processing. Additionally, THORWallet’s decentralized finance support expands functionality for XLM holders.
Substantial adoption of real-world asset tokenization underpins XLM’s investment thesis, with Stellar managing over $445 million in tokenized RWAs. This institutional traction contributes to XLM’s ongoing growth trajectory and credibility, coinciding with its recent 120% price appreciation.