Stellar (XLM) Is Ready For A Big Move Against Bitcoin (BTC)

Stellar (XLM) is preparing for a major breakout against Bitcoin (BTC). The price is consolidating below the 21 day exponential moving average as the Stochastic RSI cools off and paves the way for a rally to the upside. XLM/BTC might struggle to get past the 50 day moving average even if it succeeds in rising above the 21 day exponential moving average but we believe the price is due for a correction to the upside and it is going to get one in the days ahead. The next move to the upside will most likely push XLM/BTC towards the 38.2% Fib retracement level which again will pose as a strong resistance short term. Stellar (XLM) is a cryptocurrency with a lot of future potential and it is a good bargain at current prices.

As Ripple (XRP) begins to lose its luster with the entry of JPM coin and other competitors in the future, Stellar (XLM) will become more center stage because of its emphasis on empowering end to end user rather than banks or financial institutions. In the past few years, we have seen a lot of small companies come up to challenge the monopoly of big banks. Some of these services like Transferwise and Tempo have been very successful. The reason such services have been so successful in the first place is because people are fed up of the banks and financial institutions that have enslaved them for decades. As time goes by, people are going to want to get rid of these services too to become in charge of their own finances. In my opinion, all of this is not going to take much longer.

We have already seen a lot of vendors accepting cryptocurrencies. That’s right, not just Bitcoin (BTC) but most major cryptocurrencies. Samsung had a blockchain wallet in its new phones for a reason. All of these developments indicate that the move towards being in charge of our own finances is going to take place a lot sooner than we expect. In no time, everybody would want to be their own bank and that is when demand for cryptocurrencies like Stellar (XLM) is going to skyrocket. Stellar (XLM) is already a good bargain at its current price. We have seen it find a local bottom and is now struggling to break past the 50 day moving average. We expect that XLM/USD will succeed in breaking past that level in the days ahead and rise all the way up to the 38.2% fib retracement level.

Ripple (XRP) was center stage during the past few years because most people thought that we are not ready for a full scale cryptocurrency adoption yet. They believed that before the full scale adoption, we will see services like Ripple (XRP) try and help the banks to improve their service. However, it seems today that people do not want to do anything with banks. As for technologies like Ripple (XRP), if the banks can come up with their own, that pretty much defeats the use case for using XRP to replace their nostro/vostro accounts. This is why we believe Stellar (XLM) is poised for a major breakout in the days and weeks ahead. Even if it has to go through another correction short term, we still believe that its current price is a good deal to start accumulating because the long term outlook of Stellar (XLM) makes it one of the best investments in 2019.