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Price Analysis

Stellar Lumens (XLM) Price Analysis: Bearish Trend Is Ravaging XLM As The Crypto Sphere Is Getting Stagnated

Stellar Lumens is a pragmatic blockchain platform that is aimed to remove the gap between the fiat currencies and the digital currencies. It has its very own consensus approach, known as Stellar Consensus Protocol. It is totally unique in the blockchain ecosystem of the crypto sphere. It primarily focuses on distributed ledger technology and also aims to integrate the same into the existing financial structure. According to majority crypto enthusiasts, Stellar is the future of banking.

Current status of XLM

XLM is currently getting traded at USD 0.110907 (UTC time). With a market cap of USD 2,147,556,917 and a circulating supply of 19,363,613,344 XLM, it is the 9th largest cryptocurrency till now.

Price analysis of XLM

StellarThe above chart shows that XLM is currently getting traded at 0.110826 USD or 0.00002105 BTC (UTC time). Its present market cap is worth of 2,145,993,845 USD with a 24h volume of 239,305,393 USD. The same chart shows that approx. One month earlier, XLM had a trading point of 0.106283 USD. So, within this period, the value of XLM has spiked up by 4.27%. Its earlier price point of 0.107383 USD has provided a good support resistance level.

Future price predictions of Stellar

The market is although somewhat stable as of now, the current price of XLM is dipping down. According to the analysts, the market condition will start improving by the end of this year. So, although, it is currently stable to an extent, it will not last long, and intense volatility will reappear. XLM will soon appear in all trading exchange platforms like Bakkt, NASDAQ and Robinhood. It has partnered with SatoshiPay for enhancing the scope of micropayment solution. 2019 is the year when there will be manifold partnerships of XLM, and thus, its price can have a great shift ahead. Everybody is well aware of the potentials of Jed McCaleb, the founder of Stellar and accordingly we believe that this year, XLM can reach a good height, provided it has really inspiring developments and efficient partnerships. We assume XLM to trade around $0.66-$0.70 by the end of this year.

Conclusion

XLM is a promising cryptocurrency undoubtedly, and it is evident from its market position only. Moreover, it has been making effective moves to draw a greater number of customers towards it, and thus, this coin can be a good option for long term investment. It is better not to invest right now on it as the market condition is still very unpredictable and bearish trend can sue XLM to a major extent.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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