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Stellar XLM price likely to gain 37 percent in upsurge

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As the crypto market is experiencing some shifts, a crypto trader is anticipating that the Stellar XLM price will likely witness a growth of about 37 percent before reaching close to resistance. Whilst the crypto community is debating about the latest token burn.

On the 5th of November, the price of Stellar Lumens unexpectedly soared up to 20 percent, followed by a $55 billion Stellar XLM token burn. Interestingly, this burned amount is almost 50 percent of the entire supply. The crypto community is still trying to figure out the exact cause of this sudden coin burn.

Meanwhile, @imBagsy, a crypto trader on his twitter handle, stated that the Stellar XLM price is expected to experience another surge of almost 37 percent before it reaches close to its first horizontal resistance.

Disappointment for Stellar XLM price to XRP fans 

Ripple community’s prominent member @XrpCenter on his twitter handle expressed disappointment at this current state of the XLM and stated that this situation is perhaps unfair for the XRP holders.

After the elimination of half of the entire XLM supply by Stellar, the price instantly soared, whilst XRP’s price has not been moving upwards much, even though there have been various collaboration and utility cases for the XRP.

https://twitter.com/XrpCenter/status/1192432256683593728

 

Though there have been numerous forecasts of price surging of XRP, as soon as the Swell event begins in 2019 on the 7th and 8th of November in Singapore, the coin price would likely remain in red without any sign of the bulls taking over the bears.

Featured Image by Flickr.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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