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Stellar (XLM) Has Enormous Potential

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XLM
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This entire bearish week Stellar (XLM) has spiked people’s interest. It continues to show signs of reversal against its BTC pairing after suffering a 4-month long bearish trend.

Stellar (XLM) was one of the strongest altcoins ranked within top 10 at CoinMarketCap at the time when Bitcoin showed indications hitting above $7000. Other altcoins rose with the same audacity not just in terms of dollars but also in BTC prices. With the possibility of future ICOs choosing stellar, the community and most analysts believe that Stellar might soon overpower Ethereum. Read further to understand how Stellar is gaining big while outperforming other top 10 altcoins.

Stellar’s Current Standing:

One of the major gainers since the start of April has been Stellar which has shown a constant positive advance of nearly 10%. At the time of its peak (recorded on 4th April), each Stellar Lumen cost $0.23 and its total market capital rested at $4.33 Billion. Stellar is expected to show a bullish uptrend soon when bitcoin shows the green signal. With Stellar constantly in the news, there is the possibility of it being a bull leader in near future. Even at the time of writing, the price per token remains at $0.22.

Stellar Live on IBM Blockchain:

We’re all aware of the fact that IBM, one of the world’s major tech giants is eyeing blockchain technology. The company expects to accomplish great things by making use of their recent Blockchain Platform Strategy. IBM took the biggest step in the crypto world when they announced that Stellar Lumens are being used in a real-world environment for the company’s blockchain solutions. It took the cryptocurrency markets by surprise since this announcement that Stellar Lumens will be used as Bridge Asset on IBM blockchain, exceeded even the wildest guesses anyone could make.

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Collaboration with Central Banks:

There’s a high possibility of central banks to test and then employ stellar for issuing fiat-supported cryptocurrencies. The head of blockchain solutions and director of digital currencies at IBM, Jesse Lund has quoted

‘’The most durable digital asset is one that is issued by central banks and represents fit currency in the world’’.

This implicates the biggest aspect of the IBM-Stellar partnership which aims to provide central banks with a cryptocurrency to work with. It’s still early to comment on the effect this announcement will have on investors worldwide. The most probable outcomes could be that Stellar becomes a default crypto for central banks since IBM already offers many of the technology-related services.

Stellar as ‘The Fintech Coin’:

Stellar’s asset Lumens (XLM) have been compared with Ripple for a long time now due to;

  1. Its large supply of stellar lumens
  2. Increasing growth from sub-penny prices
  3. Potential handling payments
  4. Tokenizing real-world assets:

Stellar also exhibits the potential to serve decentralized exchanges and banks. All of these prospects could transform Stellar into a blockchain based finance leader which is what Ripple has been aiming for. Sealing a deal with Central banks is quite a big deal because Central banks have the power to take decisions for the banks which operate under their jurisdictions. Therefore, a chain reaction is possible where more banks start adopting cryptocurrencies and blockchain technology in the same way.

Conclusion:

Stellar market shows signs of displacing its closest competitors such as EOS and Cardano at the slightest uptrend of BTC markets. Although it has laid flat for quite some time now while other coins have advanced and made a temporary recovery. As of now, the Stellar team is working hard on a global-scale acceptance by spreading its trade in Colombia, Chile, and Brazil. But it’s true that Stellar’s trading hasn’t shown much difference since January. It still needs a viable proof of use case by central banks.

We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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