A notable price increase of Stellar (XLM) has been observed, now up 5% over the last 24 hours, shifting trader interest away from XRP and towards altcoins.
Rapid Rise of Stellar (XLM)
Stellar (XLM) reached an intraday high of $0.254 early Monday, recovering from a recent low of $0.222 recorded on July 1. Currently, XLM is trading at $0.25, remaining below the critical 50-day simple moving average of $0.26.
Stability of XRP Amid Changes
XRP continues to trade above $2.20, showing little movement within a narrow range despite major updates in the Ripple ecosystem. The firm has recently requested a national banking charter with the U.S. Office of the Comptroller of the Currency.
Investor Interest Shifting to XLM
Investors are reallocating capital into Stellar, anticipating a breakout move that could take XLM toward the 200-day simple moving average at $0.307. Despite XRP's subdued price action, the shift in interest toward XLM suggests a change in market sentiment.
The shift of interest from XRP to Stellar (XLM) is noted amid recent market changes. Traders continue to watch key resistance levels that may determine trends in the altcoin market.
