In the cryptocurrency market, Stellar (XLM) has gained significant attention due to its impressive weekly performance. According to data from CoinMarketCap, XLM surged by 63%, dramatically outpacing XRP, which recorded a 39% increase.
XLM Leads Weekly Gains
Among the top 100 cryptocurrencies on CoinMarketCap, XLM recorded the highest weekly gain of 63%. Despite XRP performing robustly with a 39% increase during the same period, it remained significantly behind XLM. Notable altcoins like Bonk (BONK) with a 52% surge and Pudgy Penguins (PENGU) with a 45% rise followed closely.
Historic Link Between XLM and XRP
XLM has a notable historical connection, having been founded by Ripple’s co-founder and former CTO, Jed McCaleb. This shared past encourages investors to assess both altcoins collectively. Despite Ripple CTO David Schwartz expressing uncertainty about what drives XLM’s price, the shared origin leads to investor perceptions aligning XLM with XRP.
XLM's Prospects in the Crypto Market
The surging market capitalization of XLM has reignited discussions regarding its potential re-entry into the top 10 largest cryptocurrencies. Previously entering the top 10 briefly in early 2021, XLM would now need to double in value to surpass Tron (TRX) and Cardano (ADA).
Thus, over the past week, XLM has demonstrated significant growth, emphasizing its potential in the cryptocurrency market. Renewed interest in XLM is also tied to its historical connection with XRP.
