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Key Insights:
- XLM breakout signals bullish momentum, eyeing significant short-term gains.
- Rising TVL and stablecoin supply reinforce strong investor confidence.
- Stellar price soared 15% in the past 24 hours, eyeing the $0.3 level.
Stellar price has sharply increased over the past 24 hours, gaining nearly 15%. The rally places Stellar among the top gainers in today’s cryptocurrency market, attracting strong investor interest.
Bullish momentum is driven by record-breaking Total Value Locked (TVL) and a notable rise in stablecoin transactions. On-chain data suggests strong fundamentals behind the move, boosting trader confidence.
Technically, XLM has broken out of its bull flag pattern. Also, the token may be preparing to challenge the $0.30 resistance level.
Why Is Stellar Price up?
Stellar’s native token, XLM, has surged 14% over the past week, now trading at $0.2636. The upward momentum comes as the network rolls out a wave of significant updates. This boosts investor confidence and signals a new growth phase.
Over the last 24 hours alone, Stellar price recorded a substantial rise. Notable developments across the Stellar ecosystem fueled this rise. Stellar Development Foundation has released Stellar Core v23.0.0rc2, the release candidate of Protocol 23.
This update includes parallel processing for Soroban smart contracts, boosting transaction efficiency. It also introduces a reusable inter-ledger cache, enhancing network performance and data management.
The update features the integration of Merkle Tree for enhanced data verification. It brings advanced stablecoin and NFT management tools and new access control modules.
CAP-67 introduces Unified Asset Events, enabling complete transparency in token movements. These events allow tracking across smart contracts and multiplexing accounts for the first time.
Beginning August 14, 2025, activation of Protocol 23 will be voted on in the network. These upgrades seek to put the base of scalable DeFi solutions and future digital asset functionalities in place.
As its feature offering increases, XLM is putting itself in a competitive position in the new blockchain environment.
Stellar TVL Hits Record High Levels
DeFiLlama has tracked a TVL of Stellar to be as high as $92.68 Million in the DeFi sector. The market capitalization of stablecoins on the platform is now 619.08 million, a significant amount.
This signaled a high demand for using the digital assets linked to fiat money. Regarding the users’ activity, Stellar has accumulated $2,448 in application fees over the past 24 hours.
The Stellar volume of decentralized exchange (DEX) was also $2.8 million simultaneously. Frequent trading activity signals ongoing mission participation on Stellar-based DEX platforms.
This consistent movement helps reinforce Stellar price stability and keeps the network engaged. Moreover, the funds raised in the Stellar ecosystem have reached 3 million. Such a number indicates investor assurance and continual growth of the network.
Stellar Price Breakout Signals Potential 2x Surge
Crypto analyst World Of Charts has highlighted a potential breakout for XLM. The price may soon experience an upward swing, driven by positive technical indicators.
As per a recent chart displayed on X, Stellar price has already left behind an extended period of consolidation. The price action depicts a clean breakout of a long-term downward trend line. This indicates the presence of bullish momentum again.
The researcher believes that XLM will gain twice its value within the following days. Also, the target movement is more than 140%. The projection indicates a potential rise from the current price of $0.2793 to around $0.65.
This bullish outlook is backed by increasing volume and a clear technical pattern. This may encourage more investor interest in the short term.
As of the reporting time, the Stellar price was $0.2895, with a strong 15% surge. Technical indicators further supported this outlook. The RSI reached an overbought reading of 80, which often signals a possible reversal or consolidation.
In addition, the MACD showed strong bullish momentum with a wide gap between the MACD and signal lines. Although this reflects buyer dominance, such divergence can also precede short-term corrections.
The support zone around $0.28 remained crucial. A deeper pullback could follow if prices fail to hold above this level. On the other hand, reclaiming and closing above $0.30 would signal renewed upward strength.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
