Stellar Lumens (XLM) to Post Another 37 Percent Gain after Recent Pump, Crypto Trader Says

News
Thu, 11/07/2019 - 14:41
Yuri Molchan
A crypto trader expects XLM to grow another 37 percent before it hits resistance, while the community is heatedly discussing the recent token burn
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

On November 5, the XLM price suddenly soared 20 percent, following a token burn of 55 bln XLM. That is around 50 percent of the total supply.

The crypto community has been having heated discussions as to the reasons of this abrupt coin burn.

Still, a crypto trader going by the name @imBagsy in Twitter, says they are expecting the XLM price to surge another 37 percent before it hits the first serious level of horizontal resistance.

XRP fans are at a loss

A prominent member of the Ripple community, @XrpCenter, posted a tweet, expressing his disappointment at the situation with XLM that perhaps seems unfair to XRP holders.

After Stellar eliminated half of the total XLM supply, the price immediately soared (though no particular reasons were cited), while the price of XRP is not moving up much, despite the numerous partnerships and utility cases for XRP.

Another thing is that despite the multiple forecasts of XRP surging once the Swell event starts this year (taking place November 7 and 8) in Singapore, the price of the coin remains in the red with no signs of bulls taking over bears.

Image by Coinmarketcap

Related
Alex Ferguson Becomes Part of Bitcoin Scam That Is Too Clever to Ignore

Ripple’s Swell 2019

During the much-expected conference, the CEO Brad Garlinghouse told Forbes that by now Ripple has over 300 customers.

As for the fact that many are demanding why the XRP price has not skyrocketed yet, as it was in January 2018, Garlinghouse said that the company and the XRP price are following the natural course of things – first a child crawls, then he walks, then he runs.

Garlinghouse stated that Ripple is not yet running but is already walking.

“I think the people who are focused on the hype is trying to sprint – Ripple is very much focused on the marathon. And I think we are at mile marker two of the 26 miles. We have 24 miles ahead of us.”

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings