The price of XLM has shown significant growth recently, attracting the attention of many investors and analysts. This article examines the factors contributing to this rise.
Strong Price Momentum of XLM
Recent data indicates that XLM's price surged by 35% in just 24 hours, reaching $0.4021. This value corresponds to a key resistance level previously seen in early 2025. The trading volume has surpassed $2.73 billion, reflecting increased interest from traders and investors.
Upcoming Protocol 23 Upgrade
The upcoming updates in the Stellar ecosystem, particularly Protocol 23, have become a key factor attracting investor interest. The vote for this upgrade is scheduled for August 14, 2025. The planned changes include the optimization of transaction execution and state management, which are aimed at enhancing the overall performance of the network.
Technical Indicators and Analyst Forecasts
XLM's price has broken above a multi-year descending trendline, triggering what analysts describe as an impulsive rally. Analyst Javon Marks identified $0.681 as a resistance level, with potential for growth up to $1.2918 if bullish sentiments persist.
The rise in XLM's price is driven by both market factors and internal updates within the Stellar ecosystem, creating a positive backdrop for further development.
