Stellar XLM Surges 26% on XRP ETF Optimism and Stellar Protocol 23 Upgrade
Stellar XLM surged 26% in 24 hours and 67% over the past week, trading between $0.23 and $0.26 with volume hitting $2.2 billion. The rally, driven by XRP ETF optimism and Bitcoin-led market gains, lifted XLM above its 20-day and 100-day moving averages. Traders now eye resistance at $0.27 and $0.29, with support near $0.21. On-chain catalysts include the August 14 vote on Stellar Protocol 23 to boost Soroban platform performance and Franklin Templeton’s $446 million tokenization of U.S. Treasuries on Stellar. Stellar’s DeFi TVL climbed 22% to $120 million. XRP also rose over 27% weekly, trading between $2.17 and $2.35, with resistance at $2.43 and $2.61.
Bullish
Stellar XLM’s strong 26% rally, breakout above the 20-day and 100-day moving averages, and $2.2 billion trading volume signal robust buying pressure. Upcoming catalysts— the August 14 vote on Stellar Protocol 23 and Franklin Templeton’s $446 million tokenization of U.S. Treasuries—highlight rising institutional interest and network utility. Technical targets at $0.27 and $0.29 point to further upside, supported by Bitcoin-led market gains and XRP ETF optimism that fuels altcoin momentum. While overbought conditions could trigger a short-term pullback, the convergence of on-chain upgrades, tokenization, and technical momentum underpins a bullish outlook for XLM.