Stellar (XLM) shows strong potential for a 35% price surge toward $0.63, driven by emerging technical patterns and its historically tight correlation with XRP.
The cryptocurrency currently trades within a bullish ascending triangle formation, with its upper resistance level positioned near $0.52. A decisive breakout from this pattern would trigger the projected rally toward the $0.63 target zone.
Technical indicators reinforce this optimistic outlook, with the 4-hour Relative Strength Index (RSI) signaling healthy momentum alongside steadily rising Exponential Moving Averages (EMAs). This alignment suggests growing buying pressure supporting the asset.
Market dynamics highlight XLM’s persistent price correlation with XRP. Historical data reveals that XLM frequently mirrors XRP’s movements, as evidenced when a favorable July 2023 court ruling for Ripple triggered a 60% XRP surge, followed immediately by parallel gains in XLM.
Shared investor profiles, regulatory developments, and symbiotic market behavior continue to strengthen the XLM-XRP correlation, positioning Stellar to potentially capitalize on any renewed momentum in XRP markets.