Price Analysis

Stellar Lumens (XLM) Price Analysis : XLM not likely to Attain Significant Hike Despite Recent Bullish Trend

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Stellar Lumens or XLM is a decentralized, distributed and community-owned network. It aims to facilitate the cross-asset transfer of value with minimum transaction cost. Founded by Jed McCaleb in 2014, Stellar is also a payment technology that has the purpose of connecting all financial institutions and significantly minimizing the cost and time required for cross-border transfers. Stellar use Lumens (XLM) as an intermediary for the exchange.

Current status of XLM

Stellar is currently getting traded at USD 0.085084 (UTC time 08:37). It is at the 9th position among all the cryptocurrencies. Its present market cap is worth of USD 1,634,716,867. At present, 19,212,912,981 XLM are in circulation in the crypto exchanges. Compared to its yesterday’s price, a value of XLM has been increased by 1.78%. It is currently following a bullish trend line.

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Price analysis of XLM on the basis of Stellar charts

Stellar chart

From the chart above, it is seen that at present the price of XLM is 0.085186 USD or 0.00002193 BTC (UTC time 08:58). Its present market cap has a value worth of 1,636,668,416 USD with 148,381,522 USD as its 24h volume. The same chart shows that one month back, the price of XLM was 0.075042 USD. Considering these two price points with one month gap in between them, we can say that value of XLM has been increased by 13.51%; its earlier price range of 0.080457 USD has provided strong support to its recent bullish trend.

Future price predictions of XLM

As per the long term forecast of the crypto analysts, by the end of 2019, XLM can reach a value of $0.30. This indicates that the price of XLM will not grow that high to give good returns on current investment. According to Wall Investor’s latest technical analysis, XLM can be an acceptable long term investment. After five years, XLM can be valued at $1.005, and one’s revenue is expected to be around +35.02% with a five-year investment. The Economy Forecast Agency has predicted that by 2020, XLM can reach $0.64.

With these forecasts, it is cleared that XLM will not move that higher in this year. It can attain stability to an extent from 2020 onwards. Thus, investment in XLM today is definitely not a good idea.

Conclusion

XLM is although on a bullish trend recently but, in the upcoming days, it will not make any significant hike. Investors should wait for the right time to invest in this crypto.

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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