😱 Stellar ($XLM) Soars 30% Amid $XRP Correlation: Can the Rally Continue? ⬆️

😮 Stellar ($XLM) has taken the crypto market by storm, surging 30% in the last day! This rally follows Ripple ($XRP)’s leap to $1, reviving interest in both tokens. Here's what’s fueling the excitement:

🔗 High Correlation: $XLM and $XRP share a 0.96 correlation coefficient, reflecting their intertwined price movements. Both projects focus on cross-border payments, with Stellar founded by Jed McCaleb, a Ripple co-founder.

📈 Market Momentum:

🔣 Trading Volume: Highest since May 2021.
🔣 Open Interest (OI): Surged to $75.05M, signaling strong investor confidence.

🌟 $XLM’s Golden Cross:
A golden cross—when the 50-day moving average surpasses the 200-day moving average—boosted prices to $0.243, a high not seen since March 2022. However, analysts caution that breaking $0.25–$0.27 resistance is key for further gains, potentially aiming for $0.44 and beyond.

📉 Volume Alert: A 30% drop in daily trading volume to $2.02B suggests cautious optimism as demand cools amid rising prices.

🏦 Institutional Adoption:
Stellar is gaining traction with major players like Franklin Templeton, leveraging its blockchain to cut transaction costs by 99.75%. Stellar’s adoption by the UN for global payments solidifies its role in digital finance.

👽 Beyond Finance:
Founder Jed McCaleb’s space exploration venture, Vast, hints at potential blockchain use in space—possibly even collaborating with SpaceX! 🚀

#Stellar #$XLM #Crypto #$XRP #Blockchain