Stellar (XLM), which has been experiencing a strong upward trend since mid-July, rebounded after a decline last week and started trading at prices above $0.16, recording double-digit value increases throughout the day. Following these recent value increases, Stellar (XLM) emerged as one of the top-performing altcoins in terms of percentage among high market cap cryptocurrencies.
The decision in the Ripple case led to a bullish momentum in the cryptocurrency market, especially for XRP, in mid-July. Alongside the remarkable rise of XRP, Solana (SOL), Stellar (XLM), Cardano (ADA), and Polygon (MATIC) also experienced significant value increases during this period.
However, the subsequent decline of the leading cryptocurrency Bitcoin after reaching the $31,500 level reversed the course of the crypto market. BTC started the new week with a decline, falling below $30,000. Following BTC’s drop below $30,000, most altcoins in the crypto market also experienced a decline, accelerating their losses.
On the other hand, Stellar (XLM), which had experienced a decline along with the market last week, reversed its direction and gained strong bullish momentum, recording double-digit value increases within hours.
Following the value increases after the decision in the Ripple case, Stellar (XLM) became one of the popular cryptocurrencies with significant value increases in the market. After the recent decline, Stellar (XLM) started rising again and reached the $0.16 price level, coming close to the $0.17 resistance that it had been rejected multiple times in previous weeks.
Within the past 24 hours, Stellar (XLM) recorded a value increase of nearly 15%, surpassing the important $0.17 resistance that it had been rejected from multiple times in previous weeks. The rise of Stellar (XLM) in the past week exceeded 17%. With these value increases, Stellar (XLM) stood out as one of the top-performing altcoins in terms of percentage both daily and weekly among high market cap cryptocurrencies.