Stellar XLM Price Prediction June 2019 — Experts Take And Bullish Long term Projections
[updated June 12] Stellar is an open source blockchain platform that connects payment systems, banks and the people. It’s designed to move money quickly, reliably and at meager fees. Launched in 2014, the usability of Stellar has seen it rise the crypto charts rapidly. This piece will examine XLM price
It’s currently the fifth largest crypto coin with a market cap of $2.6 billion.
Experts’ Opinion On Why XLM Price Will Rise Soon
There has been good news for all Stellar (XLM) holders, as experts predict a bright future for the coin. Below are expert opinions on why Stellar Lumens’ price will surge shortly.
A panel of professionals from the cryptocurrency sector, including CEOs, and the famous bitcoin developer, Jimmy Song, predicted massive gains for Stellar Lumen’s price. The panel stated that XLM could rise by as much as 260% from its current price, by the end of 2019. All panel members expressed high hopes for the coin’s price in the coming months.
Also, Ben Ritchie, COO of Digital Capital Management, has high hopes for the digital currency. He stated that Stellar managed to gain enough respect last year. Thus it will reach momentum in 2019 for further development. He added that the Stellar blockchain would continue solving problems. Thus the number of investors is expected to increase. He stated that the coin’s price would reach $0.35 by the end of 2019.
Joseph Raczynski from Joetechnologits.com agreed with the above statement. He stated that 2019 has been Stellar’s growth year, and predicted that the coin’s price can still climb to $0.30 by the end of 2019.
Other factors that have been driving XLM price include;
Creation of Interstellar
In another case that highlights the growing usability of the stellar network, Chain, a blockchain startup was recently acquired by Lightyear, the for-profit branch of the Stellar Development Foundation. The acquisition led to the creation of a new entity called Interstellar.
Since being founded in 2014, Chain has managed to raise over $40 million in private capital. It has also worked with companies such as Visa, Nasdaq, and Citigroup. The startup describes itself as a cryptographic ledger system that makes financial services smarter, more connected and more secure.
Interstellar will be headed by Adam Ludwin, the former RRE Ventures partner and founder of Chain. He will serve as the new project’s CEO while Jed McCaleb, Stellar and Ripple Cofounder will serve as the CTO of the project.
“All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, issuing assets on a local environment. By partnering with Stellar, you can fire an asset to another institution.”
IBM’s Launch Of A Stellar Backed Blockchain World Wire Payments System
The good news keeps coming the Stellar way, and the recent adoption of the network by IBM promises to boost the fortunes of XLM. In September, International Business Machines Corp. announced it was launching the Blockchain World Wire, a blockchain based payment system that is backed by the Stellar protocol.
The platform promises to revolutionize cross-border payments according to IBM. It will operate similarly as Ripple’s blockchain settlement systems which use XRP to transfer large amounts of money across borders with little to no fess.
IBM describes the new product as:
“IBM Blockchain World Wire, the new financial rail that can simultaneously clear and settle cross-border payments in near real-time. Integrating with your existing payment systems, you can replace costly opacity with affordable transparency – and that can bring greater financial opportunity to all.”
In addition to the work with IBM, It is also being rumored that Fidelity may opt for the XLM blockchain in moving digital assets across its platforms. Although not confirmed, it must be said that many financial market price moves are defined by rumors.
If such a move came to pass, it would boost XLM price significantly, potentially even to the $1 level.
Addition On BitGo
At the start of October, BitGo, one of the leading crypto startups that offers custodian solutions announced that it was adding XLM and Dash on its list of cryptocurrencies. Customers can now generate wallets for both starting this month.
BitGo is one of the world’s most secure wallet providers. The new additions make it exciting for investors of both cryptocurrencies.
Mike Belshe, the CEO and founder of BitGo, said that the additions were due to their unique features that offer some advancements, especially around payments.
He adds that Stellar was a clear pick for the Startup as it narrowly focuses on providing global payments for more consumers. It’s something that differentiates it from Bitcoin. Unlike BTC which acts as a store of value, XLM focuses on transactions.
In addition to BitGO, positive exchange-based news came in the listing of the XLM token on the Hong-Kong based Coinsuper exchange.
XLM is paired with Bitcoin on major exchanges such as Binance and Bitfinex, where the XLM/BTC is actively traded. Today’s analysis shows that Stellar Lumens is being dragged down by the generalized bearish sentiment in the global cryptocurrency market, and is presently down by almost 23%. Is this trend going to continue? To get answers, we turn to the charts for today’s technical analysis.
There is presently no news in the market that is specific for Stellar Lumens that has led to the price declines seen in the last two days. Therefore, the price drop is more of a consequence of the bearish sentiment that presently pervades the cryptocurrency market.
Even though BTC currently seems to be stuck, XLM is still going strong. According to the analyst, Stellar is in accumulation zone (Green rectangle) between 1500-1600ish. The bears are still trying to bring it down, which creates an opportunity for investors to buy cheaper, but it seems like XLM doesn’t want to go further down. The Airdrop is over, and now XLM is consolidating for the next push up.
The analyst sees the next breakup at 1900ish, where there will be a strong reversal sign because there will break out a prolonged downtrend. If the price is to go down, it will land in the 1500ish region, but we are already very down, so there isn’t much to worry about here.
Also, don’t forget Stellar has had a very different trend than BTC in 2018-2019.
Oxybiz believes XLM is ready for a turn in trend and foresees the 0.5 Gann level (2095) being reached in the next few days. There are more green bars than red ones in volume, and people seem to be buying more than they are selling over the past seven days.
The chart looks bullish, and this is confirmed by higher highs and lower lows in price an indication that the market is trending. A bullish setup trend is set to continue AB=CD, which is off the close line chart with a target that is almost identical 2097 sats with 0.5 Gann level 2095 sats on the Fibonacci tool. The analyst sees a break off 0.25 fib extension that will activate the setup.
You can analyze who is in control (buyers/sellers) here on any altcoin/BTC pairs on the four popular cryptocurrency exchanges Binance, Bittrex, Hitbtc, and Poloniex on multiple time frames and identify the possible reversals in price action.
The long term, mid-term and short term outlook of the XLM/USD pair is:
- Long Term – neutral to bullish
- Mid-term – neutral to bearish
Price developments in XLM/BTC will be dependent on market sentiment seen across the cryptocurrency market. Therefore, traders have to watch the news to get some direction on what price action will be.
Want to learn more about Stellar XLM? Read our Beginner’s Guide to XLM, complete with a history of the project and fundamentals of how the coin provides value. A search for Stellar on our site will bring up the latest XLM articles like Weiss Ratings giving Stellar XLM a “buy” rating.
If you’re interested in buying Stellar, you can learn how to buy XLM on Binance, our suggested exchange for new cryptocurrency investors.