Why Is Stellar (XLM) Price Dropping? This Indicator Might Hold the Answer to Its Recovery
The Stellar (XLM) price has fallen under a long-term descending resistance trendline since July 13.
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The Stellar (XLM) price has fallen under a long-term descending resistance trendline since July 13.
The nine-year-old project, one of the earliest major blockchains, is getting a facelift to incorporate "smart contracts," that theoretically could attract new applications and users – and potentially more demand for the XLM token.
In a recent analysis delivered this morning, investors were presented with a compelling case for a more optimistic outlook on Stellar (XLM) by EGRAG, a prominent market analyst. While the digital currency market often experiences its share of highs and lows, EGRAG's report highlights an intriguing correlation between XLM and XRP, suggesting that XLM might be on the cusp of a substantial upswing.
A Bloomberg crypto market analyst says Ethereum (ETH) and one XRP rival are dominating institutional interest in real-world assets issued on public blockchains. Jamie Coutts says on the social media platform X that traditional finance is driving real-world asset (RWA) tokenization, and he predicts that more firms will enter the space soon.
Stellar lumen price is attempting a fresh increase from the $0.1020 zone against the US Dollar. XLM price is now trading above $0.1050 and the 55 simple moving average (4 hours).
Ripple (XRP) goes beyond just being a cryptocurrency. It's a digital payment system with a mission to transform global financial transactions.
In the ever-evolving world of cryptocurrencies, Stellar (XLM) has been facing a persistent downtrend in its market structure, particularly evident at the critical support level. The Chaikin Money Flow (CMF) indicator, a reliable tool for assessing capital flows, has disclosed a decline in the influx of funds into XLM.
The Stellar (XLM) price broke down from a long-term descending triangle pattern on October 9.
Sellers look to maximize break of critical support level to push for further gains below $0.1.
In a recent announcement, the Stellar Development Foundation and Certora have partnered to boost security on the Stellar smart contract platform called Soroban. This collaboration will use advanced methods to make smart contracts more secure, addressing key challenges in their development and use.
The Stellar Development Foundation is set to enhance its blockchain offerings with Soroban, a new smart contract platform, currently in testnet phase, emphasizing heightened security and seamless integration.
Stellar has partnered with security firm Certora to conduct security audit checks for its upcoming smart contracts platform, Soroban.
In a groundbreaking move aimed at bolstering financial inclusion worldwide, Stellar has recently introduced two innovative cryptocurrency wallets, the Beans App wallet and the Boss Money wallet. These additions mark a significant stride towards enhancing accessibility to cryptocurrencies for the unbanked and underbanked populations, ultimately fostering greater financial freedom and inclusivity.
Continuing our crypto news and price analysis section, today we will specifically analyse the Monero (XLM), Chia (XCH) and Shiba Inu (SHIB) assets.
Stellar lumen price is gaining pace below the $0.115 resistance zone against the US Dollar. XLM price is now trading below $0.1135 and the 55 simple moving average (4 hours).
When it comes to crafting content, there are three critical elements to consider: “complexity,” “variability,” and “unpredictability.” Complexity, often referred to as perplexity, assesses the intricacy of the text.
Stellar Development Foundation published a method for judging Web3 project effectiveness in Colombia, Argentina, Kenya, the Philippines, and other developing markets.
On October 4, Binance announced adding four tokens to its “Monitoring Tag” list. The tokens are Beta Finance (BETA), BarnBridge (BOND), Waltonchain (WTC) and NEM (XEM).
A growing trend in finance known as remittances is described by the International Monetary Fund (IMF) as the sum of two main components involving financial transactions across borders: “Compensation of employees” and “personal transfers”. However, it can also often describe migrants sending money to their origin country.
The Stellar (XLM) price is trading close to the point of convergence between a descending resistance trendline and a long-term horizontal support area.
While most of the altcoins are rising higher with the Bitcoin recovery rally this Uptober, Stellar is far from the limelight. The XLM price struggles to end the consolidation trap as it moves along the 200-day EMA.
Renowned British actor and filmmaker, Idris Elba, has shown a keen interest in the world of cryptocurrency.
XLM has been defending the range-low for a while, but a solid recovery towards the mid-range remains elusive.
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