• XLM value rises 26%, main the highest 100 cryptocurrencies and surpassing XRP’s 9% achieve over the previous 24 hours.
• Stellar has made a collection of optimistic developments, together with a partnership with Bitso introduced Wednesday.
• If immediately’s momentum continues, XLM can rally to $0.20.

Stellar (XLM) is at present one of the best performing altcoin among the many prime 100 cryptocurrencies by market cap.

As of 2pm ET on July 19, XLM value has surged greater than 26% up to now 24 hours, based on CoinGecko information. Stellar’s native token is buying and selling above $0.16, displaying a bullish near-term outlook that implies the bulls might make one other transfer. With a provide wall of $0.20.

Stellar’s XLM Surpasses XRP

It was Ripple’s XRP token that led the market rally after a market-defining victory over the US Inventory Change (SEC) in current days. Stellar rode that wave final week to a excessive of $0.19. (learn extra).

Nevertheless, whereas XRP continues to be buying and selling above its buying and selling value earlier than Decide Annalisa Torres dominated XRP isn’t a safety, its XLM nonetheless outperforms the remainder of the highest 100 cash immediately.

XRP is buying and selling close to $0.83 on the time of writing, up about 9% over the previous 24 hours. In the meantime, XLM surged from a low of $0.14 to an intraday excessive above $0.16. On Tuesday, XLM/USD rebounded from the demand zone close to $0.12, giving recent momentum to the bulls seen immediately.

Why is the worth of Stellar rising immediately?

As CoinJournal highlighted earlier immediately, Stellar has partnered with Latin American cryptocurrency firm Bitso to energy worldwide funds to Colombia, Argentina and Mexico utilizing USDC. This comes after Stellar and cryptocurrency platform fonbnk1 partnered to carry the advantages of blockchain to hundreds of thousands of unbanked folks throughout Africa by way of pay as you go SIM playing cards.

350 million folks in Africa don’t have entry to a checking account and solely 20% of households have a proper checking account.@fonbnk1 supplies an actual answer to this drawback through the use of Stellar to show the 8 billion energetic pay as you go SIM playing cards worldwide into digital debit playing cards. (1/3)

— Stella (@StellarOrg) July 18, 2023

Stellar additionally not too long ago introduced a partnership with Honeycoin App to permit customers in Kenya, Uganda, Tanzania, Nigeria, Ghana and the UK to make use of their USDC balances to money out at MoneyGram areas in these international locations. Did.