Stellar Lumens, also known as “Stellar”, was launched in 2015 as a blockchain. Its primary purpose is to connect individuals and bank payment systems. Stellar strives for a technology that enables fast and reliable money transfers at a low cost. XLM is Stellar’s native currency.
It is more likely that Stellar will compete with Ripple when it comes to providing a connection for global banks and financial services companies and institutions. After the XLM/XRP pair reached a low of $0.181, the price bounced back 15% in two days.
Is XRP Rallying in XLM’s Favor?
The likelihood that XRP’s rally is in favor of XLM, even if it is a rival, cannot be ruled out. Ripple (XRP) has fallen victim to the SEC lawsuit that has been dragging on for more than two years. Ripple has put on the best show in recent days. XRP is up 41.35% in the last 30 days and 25% in the last seven days.
What is striking is that XLM also put on quite a show during this period. Stellar comes by 21.64% in the last seven days and by 4% in the last 24 hours. While XLM shows no XRP-level performance, XRP’s rally has positively impacted Stellar. However, XLM has a long way to go to break its all-time high of $0.9381.