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 aims to provide a technology that enables fast and reliable money transfers at low costs. XLM is the native currency of Stellar.
Stellar is more likely to compete with Ripple in its use case of providing a connection for global banking and financial providers and institutions. After the XLM/XRP pair hit a low of $0.181, the price bounced back by 15% in two days.
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Is XRP’s rally favoring XLM?
The likelihood of XRP’s rally favoring XLM, even though it is a rival, can’t be excluded. Ripple (XRP) has been a victim of the SEC’s lawsuit that has been dragging on for over two years. Ripple has put on the best show in the past few days. XRP is up by 41.35% in the last 30 days and 25% in the last seven days.
One thing to be noticed is that XLM has also put up a decent show during this period. Stellar is up by 21.64% in the past seven days and by 4% in the last 24 hours. Even though XLM is not exhibiting an XRP-level performance, the rally of XRP has influenced Stellar in a positive way. XLM, however, has a long way to go to breach its all-time high of $0.9381.