Stellar (XLM) Rockets 30% as Protocol 23 Upgrade Goes Live – Wall Street Finally Notices Blockchain?

Protocol 23 isn't just another update—it's the upgrade that's sending Stellar's native token XLM into orbit. With transaction throughput doubling and smart contract capabilities expanding, the network is suddenly looking like the adult in a room full of meme coin toddlers.

Partnerships with payment giants and CBDC pilots give XLM real-world utility—a novel concept in crypto-land. Meanwhile, traditional finance scrambles to understand how they missed a blockchain that's been moving billions since 2014.

The real test? Whether these gains stick when the hedge funds finish front-running the news cycle. After all, nothing gets institutional money flowing like FOMO dressed up as 'strategic allocation.'

Stellar (XLM) is making headlines as one of the top-performing cryptocurrencies this month, surging 20.8% over the past week to a current price of $0.50. This rally is driven by a combination of groundbreaking developments, including PayPal’s plans to deploy its PYUSD stablecoin on Stellar, Franklin Templeton’s $445 million U.S. Treasury tokenization, and anticipation surrounding the Protocol 23 upgrade. With strong bullish momentum and significant technical strength, XLM is positioned as a key player in the blockchain ecosystem.

XLM's weekend rally cemented its status as one of the best-performing assets on the market, with a significant 20.8% price increase. This surge reflects heightened investor confidence in the network’s scalability and adoption potential.

The upcoming Protocol 23 upgrade has been a major catalyst for Stellar’s recent price movements. Set for a mainnet vote on August 14, the upgrade introduces parallel transaction execution and live state prioritization, which will enhance scalability, reduce transaction costs, and improve network efficiency. Anticipation of these improvements drove a 30% single-day surge, with XLM reaching $0.40.

Franklin Templeton’s decision to tokenize $445 million worth of U.S. Treasuries on stellar boosted the network’s total value locked (TVL) to $543 million. This milestone marks Stellar as a leader in real-world asset tokenization, reinforcing its utility in institutional finance.

PayPal's announcement to launch its PYUSD stablecoin on Stellar has created significant buzz. This integration, pending regulatory approval, would position Stellar as a key infrastructure layer for one of the world’s largest payment platforms, further legitimizing its global adoption.

-$0.50
-+7.50%
-$0.52 / $0.46
-$251,427,015

-$0.46 (Bullish crossover with price)
-$0.33 (Strong upward momentum)
-$0.29
-$0.31

-85.33 (Overbought, but indicative of strong bullish momentum)
-0.0619 (Bullish divergence)
-91.39 (Overbought zone)

-$0.53
-$0.33
-$0.13
-0.9066 (Price NEAR the upper band, signaling strength but caution for short-term pullbacks.)

-$0.52 (Tested multiple times)
-$0.49 (Pivot point) and $0.22 (Long-term support).

Overall, the technical indicators reveal a strong bullish trend, with momentum and volume supporting further upside potential.

Traders should monitor the $0.52 resistance level closely. A breakout above this level with strong volume could pave the way for a rally toward the 52-week high of $0.56. However, the overbought RSI suggests caution, as a short-term pullback to the $0.46-$0.49 support range is possible.

For long-term investors, Stellar’s strong fundamentals and growing institutional adoption (e.g., Franklin Templeton and PayPal) make XLM an attractive hold. Accumulating during potential retracements to $0.46 or below could yield significant returns as the Protocol 23 upgrade approaches.

-Break above $0.52, targeting $0.56.
-Pullback to $0.46-$0.49 before resuming upward momentum.

- With increased scalability and adoption, XLM could target the $0.60-$0.70 range by Q4 2025, contingent on broader market conditions and the successful implementation of Protocol 23.

While XLM’s recent rally is supported by strong fundamentals and technicals, several risks remain:
1.PayPal’s PYUSD integration is contingent on regulatory approval, which could face delays or restrictions.
2.The RSI and Stochastic indicators suggest overbought conditions, increasing the likelihood of near-term corrections.
3.The success of Protocol 23 relies on seamless implementation; any technical issues could dampen investor confidence.

Stellar (XLM) is riding a wave of positive momentum, driven by the impending Protocol 23 upgrade, major partnerships, and institutional adoption. With its current price of $0.50 reflecting strong bullish sentiment, XLM is well-positioned to maintain its trajectory as one of 2025’s standout performers. However, traders should remain vigilant for short-term pullbacks and monitor key developments in the lead-up to the August 14 Protocol 23 vote. For long-term investors, Stellar’s focus on scalability and real-world utility makes it a compelling addition to any portfolio.

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