Stellar (XLM) Rockets 60% in a Week: Breakout Rally Fueled by Strategic Partnerships
Stellar’s XLM isn’t just climbing—it’s mooning. A 60% price surge in just seven days has traders scrambling and skeptics side-eyeing their short positions. Here’s why the blockchain’s latest moves have the market buzzing.
The Breakout: XLM shattered resistance levels like a bull in a china shop, leaving chartists scrambling to update their trendlines. No slow-and-steady here—just pure momentum trading.
Partnership Power Play: Behind the pump? A string of high-profile collaborations that actually solve real-world payment headaches (unlike some ‘revolutionary’ projects we could name). Stellar’s playing the long game—and suddenly, Wall Street’s spreadsheet jockeys are paying attention.
The Cynic’s Corner: Let’s be real—60% runs tend to attract two types: believers chasing the next ATH, and bagholders waiting for their chance to exit. But with Stellar’s track record of actual adoption? This might just be one pump that doesn’t end in a dump.
Strategic hires and institutional traction fuel rally
On July 16, the stellar Development Foundation announced the hiring of two high-profile executives: José Fernández da Ponte, former blockchain lead at PayPal, and Jason Karsh, formerly with Block and Coinbase. Da Ponte’s background in developing PayPal’s stablecoin PYUSD aligns with Stellar’s long-term vision of regulated cross-border payments. Confidence in the network’s future was further boosted after Franklin Templeton tokenized $446 million worth of U.S. Treasuries on Stellar’s blockchain—an endorsement of the platform’s growing role in real-world asset infrastructure.
Technical breakout confirms bullish bias
Stellar’s chart shows a clean break above the $0.47 resistance, now turned support. The MOVE aligns with the 23.6% Fibonacci retracement at $0.445. Technical indicators also confirm the momentum: the Relative Strength Index (RSI) sits at 82.64, suggesting overbought territory, while the MACD histogram remains positive. Support levels are now clustered between $0.413 and $0.315, where both simple and exponential moving averages provide a technical floor.
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Broader altcoin rally provides tailwinds
Bitcoin’s surge to $123,000 has reinvigorated altcoin trading volumes and liquidity, providing the perfect environment for projects like Stellar to attract fresh capital. However, with overbought metrics flashing, traders are eyeing Bitcoin dominance—which currently hovers below 62%—for signs of whether Stellar can extend its rally or face short-term pullbacks.
