- Stellar (XLM) has more than doubled in price since early July and is approaching a bullish golden cross that could signal further gains.
- Upcoming Protocol 23 network upgrades add strong fundamentals, making a move toward $1 possible.
Stellar (XLM) has been on a serious run lately, doubling its price since early July. From around $0.22, it surged past $0.52 in just weeks, capturing the attention of traders and crypto enthusiasts everywhere. But this rapid jump might only be the start of a bigger move.
A Golden Cross Signals Bullish Momentum
One key reason for the excitement is the looming “golden cross.” This happens when the 50-day moving average climbs above the 200-day moving average—a rare and powerful technical signal that often sparks strong upward momentum. For XLM, the 200-day average is near $0.31, and the 50-day line is quickly catching up.
When this crossover last appeared in December 2024, XLM’s price soared all the way to $0.634. While past performance doesn’t guarantee future results, traders see this as a promising sign, especially since altcoins are showing signs of waking up across the market.
Could Stellar Hit $1 Soon?
Peter Brandt, a well-known market analyst, calls XLM’s current chart “the most bullish” he’s seen. However, he cautions that for Stellar to truly break out, it needs to stay above its April lows and close above $1 on strong volume. Reaching $1 would nearly double the current price, a target that looks achievable if current trends continue.
Protocol 23 Brings Real Network Upgrades
The excitement isn’t only technical. Stellar’s upcoming Protocol 23 upgrade promises to improve the network’s speed, efficiency, and developer experience. With eight new Core Advancement Proposals included, the upgrade aims to make Stellar more scalable and user-friendly.
The testnet for Protocol 23 launched on June 30, and the mainnet voting is scheduled for August 14. This fundamental progress adds fuel to the bullish narrative, showing that Stellar is evolving on multiple fronts.
Bottom Line: Stellar Could Be Just Getting Started
Cryptocurrency always carries risk, but Stellar’s combination of a powerful technical setup and meaningful network upgrades makes it one to watch closely. If the golden cross completes and XLM breaks through key resistance levels, the $1 mark might just be the next milestone on the horizon. Keep an eye on Stellar — its recent surge might be only the beginning.
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