Today, we’ll take a look at some historical prices and market opinions for Stellar Lumens in order to create an XLM price prediction for September.
Stellar is a blockchain network focused on cross-border payments. Just like Ripple, it is used to facilitate payment internationally or locally. The network’s native token is XLM, which is used as a source of liquidity for such payments.
Payment with the Stellar network is much cheaper and is settled in a few seconds, making it a preferred network for merchants looking to send funds across borders. People or institutions making international payments usually pay a certain percentage of the amount in fees, but with Stellar, millions can be sent in seconds with just a few cents.
XLM is currently the 19th biggest cryptocurrency by market cap of $1,652,777,144, with a circulating supply of 20,681,035,018 XLM. $117,859,275 worth of XLM have been traded in the last 24 hours. Stellar has a total supply of 50,001,803,743 XLM, and the price is $0.079918, having a loss of -0.29% in the last 24 hours.
Stellar Lumens (XLM) Price Prediction: Analysis
Stellar started the month of September at $0.097614 before dropping as low as $0.073442 on September 6. XLM has moved mostly sideways in the last week, and the price is expected to continue moving sideways, as most of the oscillating indicators are neutral at the moment. However, things may change, and the price will move up momentarily before meeting another resistance, which may send it downward again.
As at the time of this analysis, the market is shifting from the hands of sellers to those of buyers, which increases the possibility that price could see an upward movement even if momentarily.
The following are resistance and support levels for the coin as calculated by Walletinvestor:
- Resistance Level (R3): 0.0882;
- Resistance Level (R2): 0.0857;
- Resistance Level (R1): 0.0835;
- Pivot Point: 0.0810;
- Support Level (S1): 0.0789;
- Support Level (S2): 0.0764;
- Support Level (S3): 0.0742.
On September 1, Stellar Development Foundation announced the commencement for its upcoming event, Meridian. SDF announced the event in November last year, which is intended to bring leaders in the cryptocurrency and blockchain industry to rub their minds in the direction of making Stellar freely accessible to all, as the foundation’s vision is to provide equitable access to the global financial system. The announcement highlights some of the top issues for deliberation during the conference.
“As registration begins, we’d like to share more about the themes we’ll be exploring at Meridian. Top-of-mind for us is how innovation can drive social and economic change. It can solve important problems, like access to information or the financial system, but it can also present new questions, like how to manage privacy, security, and compliance. We will tackle these questions in sessions like how tech can solve real world challenges, why CBDCs and stablecoins can and will co-exist, and more.”
Stellar Lumens Price Prediction: Market Opinion for September 2020
To make more informed decisions about investing in XLM, you need to have a well-rounded view of what the market is like. To help with that, we have selected some top sites with their predictions below to help provide several opinions.
Walletinvestor foresees a drop in the XLM price during September. Below are the predictions starting from 19 September to 2 October.
|Date||Price||Min Price||Max Price|
By the end of September 2020, Digitalcoinprice predicts that XLM will be worth $0.15358654 after gaining 03.21%. By the end of the year, however, it is expected to drop -10.7% and be worth $0.07098429.
Longforcast projects that XLM will have a low of 0.060 and a high of 0.101 in September 2020.
Coinpredictor sees the price of XLM going up in 2020. According to their forecast, the price will be going up 35.6% in the next 4 weeks.
30rates places the price of XLM at $0.067 on the 30 September 2020. Below are the daily forecasts from 14 to 30 September.
Stellar Lumens (XLM) Price Prediction: Verdict
Even if some of the long term predictions for XLM suggest that the price may go down eventually, the short term suggests the market could be bullish in the coming days. However, for next year, an investment in XLM may give more returns than can be achieved in 2020, so a long-term investment may be more reasonable than a short-term one.
Featured image: nulltx.com