{"id":149513,"date":"2023-09-04T19:17:31","date_gmt":"2023-09-04T13:47:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149513"},"modified":"2023-09-04T19:17:31","modified_gmt":"2023-09-04T13:47:31","slug":"will-xlm-prices-see-a-dip-amid-mid-range-struggles-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-xlm-prices-see-a-dip-amid-mid-range-struggles-crypto-news\/","title":{"rendered":"Will XLM Prices See A Dip Amid Mid-Range Struggles? – Crypto News"},"content":{"rendered":"

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Stellar (XLM) investors were in for a surprise over the weekend as the cryptocurrency staged a remarkable comeback, defying the prevailing bearish trend across the crypto market.\u00a0<\/span><\/p>\n

The token\u2019s price surged by 7.3% in the past 24 hours and recorded a 2.3% increase over the past week, now resting at $0.122461 according to <\/span>CoinGecko<\/span><\/a>.<\/span><\/p>\n

While cryptocurrency enthusiasts are rejoicing over the impressive price performance, the question that lingers on everyone\u2019s mind is: why did Stellar\u2019s price jump during the weekend? Two plausible explanations have emerged.<\/span><\/p>\n

XLM Surge Potential Triggers<\/strong><\/h2>\n

One likely catalyst for the sudden Stellar surge is the tantalizing <\/span>tease from its developers<\/span><\/a> regarding an important announcement scheduled for next week. This cryptic hint has stirred anticipation and speculation in the crypto community, with investors eagerly awaiting what could be a game-changing revelation for Stellar.<\/span><\/p>\n

\n

Something cool is dropping in 10 days.<\/p>\n

Get ready to gear up for a change that\u2019s got us all excited. Stay curious \ud83d\ude0e pic.twitter.com\/CgNzfzwqmc<\/a><\/p>\n

\u2014 Stellar (@StellarOrg) September 2, 2023<\/a><\/p>\n<\/blockquote>\n

Another factor that might have contributed to the bullish sentiment around Stellar is the upcoming Meridian event set to be hosted by the blockchain platform later this month in Spain.\u00a0<\/span><\/p>\n

Meridian, known as <\/span>Stellar\u2019s flagship annual event<\/span><\/a>, is expected to bring together a multitude of influential speakers from the blockchain and cryptocurrency space. Their speeches and insights have the potential to significantly influence market dynamics, possibly explaining the increased demand for XLM.<\/span><\/p>\n

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25 days until #Meridian2023<\/a>! Get ready to dive into over 70 insightful sessions, connect with industry leaders, and unlock endless possibilities.<\/p>\n

Grab your spot today! https:\/\/t.co\/lRAGVzFLRl<\/a><\/p>\n

\u2014 Stellar (@StellarOrg) September 1, 2023<\/a><\/p>\n<\/blockquote>\n

Technical Analysis Indicates Potential Challenges Ahead<\/strong><\/h2>\n

Despite the recent surge, some <\/span>technical indicators<\/span><\/a> suggest potential challenges for Stellar. XLM has consistently closed daily sessions below the mid-range price of $0.1150, signaling increasing seller leverage. A weekly session closure below this level could confirm the sellers\u2019 advancement, potentially pushing XLM toward the range low of approximately $0.1000.<\/span><\/p>\n

However, this range low is not without its silver lining. It coincides with a daily bullish Order Book (OB) ranging from $0.0953 to $0.0986, creating a strong support zone for the cryptocurrency. Investors will be closely monitoring whether XLM can maintain its foothold in this zone or if further bearish pressure awaits.<\/span><\/p>\n<\/p>\n

XLM market cap currently at $3.4 billion in the daily chart: TradingView.com<\/a><\/pre>\n
In the past few days, funding rates in the crypto market have been predominantly negative, underscoring the prevailing bearish bias. This bearish sentiment is further supported by the <\/span>declining Open Interest (OI) rates<\/span><\/a> witnessed in August and early September. <\/span><\/p>\n
The decrease in OI reflects reduced demand for XLM during this period, suggesting that investors remain cautious in the face of market uncertainties.<\/span><\/p>\n
As the crypto community eagerly anticipates the forthcoming news from Stellar\u2019s developers and the Meridian event, XLM\u2019s price trajectory remains uncertain.<\/span><\/p>\n
Traders and investors are advised to exercise caution and closely monitor the evolving market dynamics in the coming days, as these developments could play a pivotal role in determining Stellar\u2019s future price movements.<\/span><\/p>\n
(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from <\/span>MEXC Blog<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Stellar (XLM) investors were in for a surprise over the weekend as the cryptocurrency staged a remarkable comeback, defying the prevailing bearish trend across the crypto market.\u00a0 The token\u2019s price surged by 7.3% in the past 24 hours and recorded a 2.3% increase over the past week, now resting at $0.122461 according to CoinGecko. While […]<\/p>\n","protected":false},"author":2,"featured_media":149514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-149513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=149513"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149513\/revisions"}],"predecessor-version":[{"id":149516,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149513\/revisions\/149516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/149514"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}