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Stellar (XLM), the digital currency known as XRP’s rival, has recorded a significant uptick in key performance metrics. In the last 24 hours, XLM has outperformed XRP following its comparatively higher price and volume transacted by market investors in 24 hours.
Breakout rally pushes Stellar ahead of XRP
According to CoinMarketCap data, XLM gained momentum in a breakout rally from $0.2881 to its current market value. As of press time, the price of XLM was changing hands at $0.2982, which represents a 10.1% increase.
The uptick has renewed investors’ interest in the coin as the transaction trend has surged. Within the same period, trading volume has soared by 190.52% to $476.51 million.
The XLM technical chart signals the potential for asset growth. As reported by U.Today, Stellar’s recent Head-and-Shoulders pattern teases a potential major breakout beyond what it is currently witnessing.
Meanwhile, XRP has been unable to keep up with its rival on the crypto market. XRP’s price has increased by 5.94% within the same time frame to $2.34.
While there has been a significant uptick in volume, it remains in the double-digit range compared to XLM. Investors have only increased trading volume by 48.37% to $7.26 billion.
These figures are impressive but lag behind Stellar’s, which is soaring higher than XRP at the moment.
Is utility and ecosystem growth behind Stellar’s edge?
The large volume of XLM transactions gives it an edge over XRP. Notably, the XRP rival has been consistent over the past few days, as the ecosystem recently recorded 50 million XLM within 72 hours.
This volume is increasing, suggesting that investors have renewed confidence in Stellar's future outlook and are betting on more growth.
It appears that XLM is also becoming more useful for transfer payments as users explore its inexpensive transfer platform, which rivals that of XRP.
Vladislav Sopov