Stellar (XLM) is currently leading the pack among the top 100 cryptocurrencies by market cap, with a spike of more than 26% in the past 24 hours as of 2 pm ET on July 19. Its native token was trading above $0.16, and bulls could have a fresh go at the $0.20 supply wall.
XRP, which saw its market-defining win against the US Securities and Exchange (SEC) recently, is trading near $0.83 at the time of writing, roughly 9% up in the past 24 hours.
Stellar has had a series of positive developments that could explain its current bullish outlook. On Wednesday, the platform announced its partnership with Bitso, allowing international payments to Colombia, Argentina, and Mexico using USDC. It also teamed up with crypto platform fonbnk1 to help millions of unbanked across Africa to tap into the blockchain benefits via their prepaid SIM cards. Moreover, Stellar also partnered with Honeycoin App to enable cash out of USDC balances at any MoneyGram location in Kenya, Uganda, Tanzania, Nigeria, Ghana, and the UK.
XLM/USD is looking for a buffer at the resistance zone near $0.15. If the price holds above this level, it is possible buyers would go for the aforementioned primary target or higher. The bullish outlook is largely helped by the technical picture and the sentiment catalysed by Stellar’s recent series of great news.
