Stellar Gains Institutional Support with $3 Billion Asset Access
Stellar (XLM) Price Action
- XLM is trading around $0.36, showing a slight daily decline of 0.56% and a weekly drop of 4.2%.
- The $0.37 level is crucial, historically acting as resistance and support.
- A move above this level could target long-standing resistance near $0.48, possibly leading to a stronger rally.
Technical Indicators
- RSI is close to neutral at 50; MACD is slightly above zero, indicating indecision but potential bullish reversal.
- A developing wedge pattern suggests a possible upside breakout.
- If the price surpasses $0.41, targets range from $0.58 to $0.80. Failure to hold above $0.35 may lead to declines toward $0.30 or $0.21.
Institutional Adoption and Long-Term Outlook
- Stellar Development Foundation accessed over $3 billion in real-world assets on its network.
- Key issuers include PayPal, Ondo Finance, and Mercado Bitcoin.
- Launch of PayPal USD (PYUSD) strengthens Stellar's role in cross-border payments and asset tokenization.
- Partnerships with Mastercard and MoneyGram highlight growing institutional presence.
With Bitcoin strong above $112,000, Stellar is seen as a candidate for recovery. A breakout above $0.50 could signal further gains.