Stellar Lumens News Today – If you’ve been paying attention, you’ll know that the Stellar Lumens XLM token was one of the worst performing tokens this June. This was kind of discouraging when you consider the fact that our Stellar Lumens price prediction in the beginning of the year was extremely bullish. The price of Stellar isn’t just falling against the USD over a 30-day period; it is down on the yearly chart when you compare the opening price on January 2019 to the current price today. So, what will the month of July bring? Will Stellar Lumens price finally recover per our previous Stellar Lumens news or should we expect lower lows? This is what we will consider in our Stellar Lumens news today.
Stellar Lumens News Today – Stellar Lumens Price Prediction 2019 – Stellar Lumens Price Forecast – What Will July Bring For XLM?
A few months ago, smartereum.com reported that the price of Stellar Lumens XLM was going to surge higher against the USD thanks to its partnership with IBM. You see the big blue had announced that it would be using the Stellar blockchain for its World Wire project. Just after the announcement, the price of Stellar Lumens XLM surged against the USD. Everyone got interested in Stellar because they could not understand why IBM decided to use Stellar instead of Ripple.
You see Ripple and Stellar are sort of competitors. The Stellar blockchain was developed by the co-founder of Ripple. It was created to be a better blockchain than Ripple which would do everything that Ripple can do and more. However, Ripple has been targeting institutions more than it has been targeting individual users. So, Ripple was the obvious choice but IBM decided to use Stellar. This move supported the price of the Stellar Lumens XLM token so much that it surged as high as $0.167, it’s highest point since January. Unfortunately, this was followed by decline that hasn’t stopped until today. While the price is XLM tested the $0.147 level sometime this month, it is still performing poorly.
Stellar (XLM) Price Today – XLM / USD
Things became worse for Stellar when the rumors started to circulate that IBM may not be using the Stellar blockchain for its project and that it may be considering Facebook’s blockchain and its token, Libra. This may just be a rumor but, as is common in the cryptocurrency market, it has affected the price of Stellar Lumens XLM significantly. The lower Stellar Lumens price goes, the more intense the selloff becomes as traders try to run before they lose everything.
Stellar Lumens News Today – Stellar Lumens Price Prediction 2019 – Current Price Of Stellar Lumens XLM
At the time of writing, the price of Stellar Lumens XLM was $0.108118. This means that it is down by 2.25% against the USD and down by 3.26% against BTC. The trading volume over a 24 hour period $426,233,598 and the market capitalization is $2,099,638,737. Yesterday, the price of Stellar Lumens XLM fell as low as $0.1051 before it started increasing gradually. There is a major resistance at $0.132 and there is a strong support at $0.0913. It is important that the bulls hold the support at $0.0913. In the coming month, July, we should expect a market-wide recovery. It Stellar picks up along with other altcoins, it may be able to rise above the resistance at $0.132.
What do you think about the Stellar Lumens price prediction 2019 in our Stellar Lumens news today? Share your thoughts in the comment section below.