XLM Price Ripe for a 42% Surge as Stellar Whisk Upgrade Launches

XLM price is rising today, September 3, helped by the latest Whisk upgrade, which introduces numerous capabilities. Stellar Lumens token trades at $0.3672, up from this week’s low of $0.3456. Its upgrade and the strong technicals mean that a strong rebound is possible.

XLM Price Could Surge As Stellar’s Whisk Upgrade

The XLM price rose slightly on Wednesday as the developers launched the much-awaited Protocol 23, which has been named Whisk. This is a major upgrade that introduces numerous functionalities, including creating unified events and scaling using parallel transaction processing (PTP). 

PTP is a new technology that will boost Stellar’s throughput, especially when there is a significant increase in transactions. It will also reduce latency, reduce latency, and make Stellar one of the fastest players in the crypto industry. 

This upgrade comes at a time when the network is doing well. Per DeFi Llama, its total value locked (TVL) has jumped to $140 million, making it one of the fastest-growing chains in the crypto industry. The new upgrade may help the network attract more developers in the longer term. 

Most importantly, Stellar’s stablecoin supply has continued rising this year, and currently stands at $710 million, with the Franklin Templeton tokenized asset having the biggest market share. Its USDC assets have jumped to over $200 million. 

Meanwhile, there is a possibility that one or more financial services companies will file for a spot XLM ETF. Additionally, it is one of the top cryptocurrencies, boasting a market capitalization of over $10 billion. It is also a highly liquid coin that was started by one of the Ripple founders. 

Stellar Price Technical Analysis 

A technical analysis shows that the value of Stellar could stage a stage a strong surge in the coming weeks. It has found substantial support at the 100-day Exponential Moving Average (EMA). In most cases, remaining above that level is a sign that bulls are in control for now.

XLM coin price has also formed a falling wedge pattern. The upper side of this pattern connects the highest lines since July, while the lower one joins the lowest levels. 

Interestingly, this pattern is forming after the coin went vertical, as it surged from a low of $0.2186 to a high of $0.5185 within a few days. 

Therefore, these patterns mean that the Stellar price may surge in the coming days and potentially retest the year-to-date high of $0.5185. On the other hand, a drop below the support at $0.30 will cancel the bullish Stellar Lumens forecast for 2025.

Frequently Asked Questions (FAQs)

The outlook for the XLM price is highly bullish in the coming days, helped by its strong technicals and fundamentals.

The most likely scenario is where the Stellar lumens jump by over 40% in the coming days.

Stellar Protocol 23 introduces some important upgrades in the network, including parallel processing and latency reduction.

crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

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