Can XLM hit $0.35 by this year? Stellar Lumens (XLM) has been a key player in the cryptocurrency space, with a strong focus on connecting traditional finance with blockchain. As of today, XLM is trading at $0.092 with a market cap of $2.73 billion. But what’s next for Stellar? Could its price surge in 2024, or will it struggle to gain momentum? Let’s dive into the XLM price prediction and explore what’s driving Stellar's future potential
Key Predictions for 2024
- Potential High: XLM could rally to $0.22 by the end of 2024, fueled by recent developments like the launch of the Grayscale Stellar Lumens Trust and Ripple’s partial win in the SEC lawsuit.
- Bearish Scenario: If Stellar fails to maintain its growth, the price might slip to $0.10, with an average forecast of $0.16 for 2024.
Factors Driving XLM’s Growth
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Strategic Partnerships: Stellar’s partnerships with big names like VISA, the Ukrainian government, and MoneyGram are critical to its success.
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Grayscale Trust: The introduction of Grayscale Stellar Lumens Trust shares has sparked renewed interest in the coin, indicating a potential price surge.
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Ripple Effect: Ripple’s legal victory over the SEC has had a positive effect on the broader crypto market, including Stellar.
Optimistic Scenario: Could XLM Hit $0.35?
If Stellar fully capitalizes on its partnerships and increasing adoption, experts predict that XLM could hit $0.35. This hinges on continued growth and expansion in real-world use cases.
Downside Risk: Bearish Correction
On the flip side, if the market takes a turn, XLM may see a dip, possibly falling to $0.20. However, even in a bearish market, the average forecast still stands at $0.27 for 2024.
Stellar Lumens has the potential for significant growth, but the price could also face hurdles. Keep an eye on its partnerships and adoption rate for clues about where XLM is headed next year.