Despite a rocky start to the year for the cryptocurrency market, things turned around in a big way this week. A host of assets are up with positive sentiment abounding the industry. One of the biggest surprises has been Stellar, with its 26% jump over the last seven days leading many to question if XLM could be on its way above $1.
The cryptocurrency has been one of many making an impressive jump Thursday. Its performance culminated in its trading volume surpassing the $2 billion mark en route to XL breaking through $0.5. Yet, just how high can the crypto go before 2025 is in the history books?
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Stellar Jumps Another 7% as XLM Looks Poised to Challenge All-Time High
In the early weeks of the new year, the cryptocurrency market stumbled. Indeed, it failed to get off to the quickest start, but that changed drastically as January surpassed its midpoint. With pro-crypto US President-elect Donald Trump set to be inaugurated in just four days, it appears the industry is awaiting some much-needed reform to its crypto policy.
Those changes are coming, and their impending arrival has catapulted a plethora of assets. Yet one of the biggest surprises is Stellar, as XLM has already jumped more than 26% this week, with eyes on the $1 mark. But could the positive sentiment and market-wide rally truly propel the asset to a new all-time high?
Also Read: Stellar Keeps Winning With 23% Gain: XLM To Target $0.65 Before 2025?
Over the last 24 hours, XLM has increased more than 7%, according to CoinMarketCap. Moreover, that increase has Stellar firmly trading above the $0.50 mark. What’s even more interesting is that it makes the crypto one of the biggest gainers over the last 30 days. Indeed, the 12th largest crypto by market cap is already up more than 12.6% in that span.
So just what can the market expect from XLM this year? According to crypto price prediction platform CoinCodex, Stellar is projected to keep gaining in January. Specifically, analysts project the asset to end the month at a $0.8 high, up 59% from its current position.
Yet, the question of Stellar’s $1 dream appears less set in stone. The prediction platform projects XLM to reach a 2025 high of $0.999, up 98% from its price at January’s halfway mark. That expectation leaves plenty of room for $1 to become a reality for the token. Moreover, if the asset can receive a boost from the impending pro-crypto policy in the US, XLM could set an all-time high mark this year.
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