The post XLM Price Breaks Out: Is $1.59 the Next Stop? appeared first on Coinpedia Fintech News
The XLM price has made a strong comeback in July, as the crypto registered a 75% surge over the past week and 86% in the past two weeks, outperforming many top assets in the sector.
With ecosystem upgrades pending voting, rising institutional interest, and experts being very optimistic, the project is very attractive. Even experts believe XLM price action also turned attractive and appears poised for a potential move toward $1.59.
XLM Price Action Signals Strong Momentum
According to the most recent data from XLM’s daily chart, its price soared by 35% in just 24 hours, reaching $0.4021 and touching a key resistance level that was previously seen in early 2025.
Confirming the bullish momentum, even its trading volume recently jumped past $2.73 billion, and the market cap amounted to $12.50 billion, which reflects rising trader and investor demand.
Much of this momentum is attributed to growing market-wide optimism following the recent Bitcoin price rally to an all-time high around $118K. But beyond general sentiment, Stellar’s price spike has been accelerated by technical and fundamental developments within its own ecosystem.
Protocol 23 Upgrade Triggers Bullish Sentiment
The upcoming Protocol 23 upgrade on Stellar’s Soroban smart contract platform is a fundamental factor within its own ecosystem, driving recent investor interest.
The proposal will be voted on August 14, 2025, for the Soroban smart contract platform. Once approved via voting in Q3, it will introduce optimizations to transaction execution and state management, aiming to enhance the overall network performance.
This anticipated upgrade comes amid a broader expansion of Stellar’s real-world applications. Similarly, Stellar has recently become an increasingly popular choice for cross-border payroll, thanks to its low fees, fast settlement, and programmable asset issuance.
Even institutions like Franklin Templeton tokenized a massive amount worth $446 million in U.S. Treasuries on Stellar. Also, integrations like PayPal’s PYUSD are driving demand for XLM.
Additionally, Stellar’s Total Value Locked (TVL) in DeFi rose to an all-time high in the last 24 hours alone, reaching $122.4 million, according to DeFiLlama.
Technical Indicators and Analyst Forecasts
Technically, the XLM price has broken above a multi-year descending trendline dating back to 2021, which has triggered what analysts describe as an impulsive rally.
Analyst Javon Marks identified $0.681 as the next resistance level, with the potential to extend to $1.2918 if bullish pressure continues.
Complementing this view, ChartNerdTA recently shared a chart on X, showing a breakout from a flag formation. He predicts XLM could push even further, with $1.59 as a potential upside target in the coming weeks.
