The Stellar (XLM) cryptocurrency currently shows a mixed dynamic, maintaining interest from analysts and traders. Let's explore the main factors affecting its price.
Current XLM Situation
At the time of writing, XLM is trading at $0.4119, down 3.6% from last week, with a market cap of $12.91 billion. Despite short-term losses, technical indicators show resilience around the key support level of $0.403.
Protocol 23 Upgrade: New Opportunities
A significant event on the horizon is the upcoming Protocol 23 upgrade, which will go to a mainnet vote in late August 2025. It will introduce parallel execution for Soroban smart contracts, enabling throughput of up to 5,000 transactions per second while reducing fees.
Market Predictions for XLM
If XLM decisively breaks above the $0.44 level, analysts predict a move toward $0.50, with potential extensions toward $0.65 and even $0.80. Conversely, failure to maintain above the $0.40 support could see XLM revisit the $0.36–$0.38 range.
The situation with XLM remains dynamic, and upcoming network updates, along with strategic partnerships, could be crucial for its future. Today's analysis highlights the importance of monitoring impending events.
