There is a lot of interesting crypto market price momentum at this time. Not all of the bearish pressure which materialized has disappeared, but things are not looking too bad either. The Stellar price is rebounding sharply after a rough day, and its value seems on track to hit $0.12 later in the day, assuming this price trend is sustainable.
Stellar Price Makes Another Run for it
It is always interesting to see how different cryptocurrencies, tokens, and assets try to evolve at any given time. Especially in the price department, it would appear the reliance on Bitcoin has become far less apparent recently than it normally is. This is not a bad thing by any means, but it also creates a bit more uncertainty which most markets do not need. For Stellar, it is working wonders right now, although some people may see things differently.
Over the past 24 hours, Stellar is the strongest gainer in the entire top 10. Its 5.18% gain in USD value pushes the price back to $0.115. There is also a 4.75% gain in XLM/BTC, bringing that ratio back to 2,851 Satoshi. These solid gains all across the board seem to indicate things can get pretty interesting moving forward, although there is never a guarantee things will continue down this path for very long.
On social media, the big news of the day is how Stellar has been tapped by IBM to launch a global payments network. While this development has been coming for quite some time now, it appears the circle is finally complete. It is possible this news is part of the reason why the Stellar value is rising all of a sudden, although other factors can be at play as well.
https://t.co/HJVP2kSPrG #StellarLumens #XLM
— CryptoDiary.org (@CryptoDiaryOrg) March 19, 2019
There is also some concern as to how the rivalry between XRP and XLM will play out. XRPiano shares some interesting details, although they are not necessarily something to be concerned about. Stronghold did indeed remove a few different XLM pairs while adding XRP. However, the company also partnered with IBM to make use of its Stellar-based payments network. A bit of an odd turn of events, albeit one that seems to make sense to all parties involved.
Just checking if anyone else sees the irony here?
World Wire is being touted by some as a platform that will leverage $XLM, yet Stronghold recently delisted 3 of XLM’s most liquid pairs, simultaneously *adding* $XRP 🤷🏼♂️#XRPCommunity https://t.co/le3TWVTNoc
— XRPiano (@PianoXr) March 19, 2019
When looking at the current XLM price chart, a very interesting pattern shows up. More specifically, there is a major cup formation visible, which ha snow resulted in what appears to be a minuscule handle before the breakout occurred. This can be interpreted in many different ways, yet Umut Bey clearly sees it as a major bullish signal.
#XLM 👆FİNCAN KULP DORMASYONU #RVN #PHX #OST #GVT #XLM #XRP pic.twitter.com/DoCbYe8TuW
— Umut Bey (@umut94824225) March 19, 2019
All of the current market signs seem to indicate Stellar is a bullish market, although the opinions will obviously differ in this regard. With these strong gains and Bitcoin slightly gaining value as well, the coming hours can play out in many different ways. While nothing is ever set in stone in this volatile industry, one has to admit XLM looks somewhat strong and a push to $0.12 seems plausible. That doesn’t mean it will happen, though.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
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