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Stellar price analysis 8 June 2019; has XLM finally become independent from BTC?

XLM price 14 may

As the popular saying goes, when you hit rock bottom, the only way to go is up.

That’s a perfect description for XLM in the year of 2019 after it hit one of its lowers trading prices at the end of January and the beginning of February, but bounced back and joined the Bitcoin bull rush to regain its #10 position in the market once again.

The downtrend was quickly corrected but the small Bitcoin nudge in the month of May, but April has been quite disappointing so far as the coin keeps on shredding without any remorse.

However, many believe that thanks to the independence that XRP is gaining in the market these days, XLM will most likely switch its “allegiances” and follow Ripple‘s advance more than Bitcoin, due to the similar functionality of the two coins.

XLM price chart

XLM chart by Trading View

If we look at the XLM chart and compare it to some other coins in the top 10, the coin still has a really long way to go in order to catch up with others’ growth patterns. For example, LTC managed to perform outstandingly well within the last couple of weeks and is well on its way to an even better performance at the end of this summer.

XLM’s opportunity for growth now surpasses pretty much any other coin in the top 10 which provides it with the most room during the next bull rush.

The price of XLM is $0.1266 at the moment of writing this article and the coin has been struggling to maintain it. In the short term, it’s predicted that the coin will fall to $0.1189 on Wednesday most likely and then form another bullish run towards $0.1419 by the end of June 2019.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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