The original symbol of Stellar, XLM, which is a major rival for the XRP Rip Labs, has increased by more than 12 % in trading volume. Market participants are now wondering whether the currency price will follow the same upward movement.
Investors turn attention to the stars
The increase in the daily trading volume in XLM indicates an increase in the activity of investors on the stellar network. During the past 24 hours, the volume of currency trading increased to 324 million dollars, according to Data From Coinmarketcap.
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The rise in trading indicates that XLM is in a standardization stage, and therefore, the price is expected to restore its positive momentum soon. The XLM price was traded at $ 0.30, with the maximum market link to $ 9.2 billion. It is worth noting that the XLM decline reflects a wider struggle in the market, as Bitcoin (BTC) decreased by 2.1 % on the daily chart.
Likewise, the price of XRP decreased by 1.9 % during the day before, as it was traded at $ 2.54. Like XLM, investors XRP investors dramatically increased, increased by 40.25 %. It is important to note that XLM and XRP usually reflect the movement of each other.
However, the XLM value increased by 18 % during the weekend, exceeding the XRP march 12 %. Rally paid 18 % of stars from a decrease of $ 0.252 to the highest level during the day 0.3086 dollars.
The movement of the stellar roller
The star recovered from its lowest level of $ 0.252 on February 28, and rose for three consecutive days to an increase of $ 0.375 on March 2. Soon after this increase, XLM fell to a level of $ 0.30 before finding its feet again.
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By March 5, XLM regained traction alongside the broader market gathering, and gained more than 9 % in 24 hours.
Currently, merchants monitor the key resistance levels to see if XLM can keep their gains. Digital assets are trading among its 50 and 200 moving averages, at 0.305 dollars and $ 0.258. The Ali Martinez mobilizer, a 300 % bull for XLM if it erupted from a similar triangle style.
