Stellar's native cryptocurrency, XLM, has seen a dramatic 180% increase in the past week, gaining attention in the cryptocurrency markets. This rise brings its market cap to $17.3 billion, surpassing other major cryptocurrencies and nearing the top 10 rankings.
Investors and analysts are highly optimistic, with Stellar's founder Jed McCaleb emphasizing its potential. This is not the first time XLM has experienced significant growth, reminiscent of past surges in 2017 and 2021.
Although enthusiasm abounds, technical indicators suggest caution. The Relative Strength Index indicates an overbought market, while breaking the upper limits of its Bollinger Bands suggests possible overextension.
Despite short-term risks, analysts forecast a continued upward trend with a predicted rise in the coming year. Stellar’s future looks promising, making XLM a cryptocurrency to watch closely.
