Stellar (XLM) has noted significant price declines in recent months. However, September may mark a recovery month for the cryptocurrency according to historical data.
Current Market Situation
Stellar has lost 15.17% of its value over the last 30 days and a significant 13.67% over the past week. As of this writing, Stellar's price was trading at $0.3541, representing a 2.62% decline over the last 24 hours.
Historical September Trends
According to CryptoRank data, Stellar has an average growth rate of 3.08% in September. In 2024, it closed the month with a growth rate of 6.24%, suggesting a potential shift in the current bearish sentiment among investors.
Growth Factors
If history repeats, Stellar could soar to as high as $0.50. Positive impacts have also come from regulatory clarity surrounding Ripple. Furthermore, charts indicate the formation of an inverse head and shoulders pattern, signaling potential significant growth in September.
Thus, despite current losses, September may offer a recovery for Stellar based on historical data and current market conditions.
