Stellar Jumps 38%, Crushes XRP on Transactions as Bulls Eye $0.50 Breakout

Blockchain payment network Stellar ($XLM) has emerged as one of the most consistent gainers over the past month. On May 11, Stellar rocketed 7% to reclaim a $10 billion valuation, capping a 38% month-long run, securing its place among the top 15 cryptocurrencies by market capitalization.

Originally created as a fork of the Ripple protocol, Stellar was founded in 2014 after a split within Ripple’s ($XRP) leadership. Since then, it has often been viewed as a direct competitor to $XRP.

While $XRP boasts a much larger market cap, currently over $150 billion, $XLM has outperformed it in terms of price growth over the past month.

According to data from Messari, Stellar processed more than 3.3 million transactions on May 11, incurring just $4,000 in total transaction fees.

In comparison, Ripple processed roughly 530,000 transfers with over $3,500 in associated fees.

Stellar, the leading smart contract platform, also shows impressive efficiency when compared to Ethereum.

Built for payments. pic.twitter.com/ybnSrGAXt7

The network has facilitated over 470 million transactions at an average fee of just $0.0015 per transaction, whereas Ethereum has seen over 108 million transactions with an average fee of $1.90. Stellar’s user base is also on the rise, with over 9.5 million wallets registered, according to Stellar Explorer.

Developer activity is accelerating as well, with more than 630,000 smart contracts deployed on the network as of May 7.

This growing adoption hasn’t gone unnoticed, as major financial institutions are increasingly integrating Stellar into their infrastructure.

Recently, MoneyGram launched “Ramps,” a developer-friendly API powered by Stellar that facilitates seamless integration with Circle’s $USDC, allowing users to move money easily in and out of digital wallets.

Cash-to-crypto just got easier.

Launched today, @MoneyGram Ramps is a developer-centric API that enables ramp integration with just a few lines of code, powered by the Stellar network. No banking integration required. https://t.co/wvix1eGH5V

In 2024, Stellar also secured high-profile partnerships with companies like Mastercard and Franklin Templeton. Mastercard’s Crypto Credential solution has utilized Stellar’s blockchain for secure asset management.

IBM has also collaborated with Stellar to power cross-border payment solutions, particularly in the South Pacific region.

These developments have reinforced investor confidence in $XLM, and its price action reflects this growing interest.

On the $XLM/$USDT daily chart, the token recently broke above the 1.618 Fibonacci extension level at $0.3168, now serving as short-term support.

From a technical standpoint, $XLM appears to be in the early stages of a bullish trend marked by higher highs and higher lows.

Following a recovery from the $0.24 region, the price has tracked key Fibonacci extension levels and is currently consolidating between the 1.618 and 2.0 levels.

The next major resistance lies at $0.3756, a historically relevant level, which could determine whether the rally continues or faces a short-term rejection.

If $XLM manages to break above this barrier, the next target is projected at $0.5088, offering a potential upside of over 56% from current levels.

$XLM (Stellar Lumens) looks to be breaking out of its Bull Flag-like setup and can be getting ready for another major leg up towards the $0.681 target!

This can consist of an over 126% increase and a break above this target can bring $1.291819 into play… https://t.co/Jy6DpD7s8J pic.twitter.com/2LLxzUMVZh

However, the Relative Strength Index (RSI) is hovering at 68.89, nearing the overbought zone. This suggests that a short-term consolidation or cooldown may be on the horizon.

In case of a pullback, support levels to watch include $0.3168, followed by deeper Fibonacci support at $0.2868 and $0.2569.

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