Stellar’s native token, XLM, demonstrates significant growth potential this month, having decisively breached critical multi-year resistance levels.
The cryptocurrency recorded a substantial rally ranging between 80% to 120% this July, marking a notable achievement after struggling to overcome these price barriers in prior years.
Market analyst Peter Brandt highlighted the significance of achieving a monthly closing price above the key psychological level of $1, stating this would confirm the breakout’s sustainability for long-term growth.
Despite prevalent warnings regarding potential price corrections, the Stellar community remains optimistic.
This confidence stems from the token’s current performance and bullish technical indicators, although comparisons to earlier rallies underscore volatility.
XLM’s surge carries implications beyond the token itself, potentially influencing the broader market segment of cryptocurrencies focused on facilitating cross-border payments.
Analysts frequently reference XLM’s historically volatile price action as a cautionary reminder.
Previous significant rallies, such as those observed in 2018 and 2024, ultimately failed to maintain their momentum, cautioning investors against over-enthusiasm despite the current bullish signals.