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- Stellar Lumens up 11% over last week
- IBM and six banks sign a letter of intent for the issuance of stable World Wire coins
- The volume of transactions doubles in eight days
With six IBM banks on its own, XLM prices are up and up 11% last week. We expect prices to rise slightly in the next few days. If prices approach more than 15 cents, Stellar Lumens (XLM) could double to 30 cents.
Stellar lumen price badysis
fundamentals
Similar to Ripple, Jed McCaleb's Stedar is a low-cost platform that allows cross-border funds transfer for the unbanked. This is the latest to receive support from CoinBase three months after the exchange has placed the badet in the study.
In parallel with this development that boosts liquidity, it is reported that IBM has managed to attract six banks to World Wire. By signing a letter of intent, these banks agree to use with three of them having received regulatory approval. As a result, they are ready to issue a fiat stable coin via IBM's World Wire, enabling quick and cost-effective settlement. The Stablecoin will complement Stronghold, unfortunately inaccessible to US citizens due to regulatory hurdles.
Nevertheless, IBM's Jesse Lund is ambitious and, in the era of stable parts, here is what he had to say:
"As more stable pieces come into play, the whole notion of FX changes over time. We are working very hard to expand the ecosystem of stable coins that will include many more banks and many more fiduciary currencies – thus digital representations of fiduciary currencies – and even, possibly, the central bank issued digital currencies . "
Chandelier arrangement
Like Bitcoin Cash, Stellar Lumens (XLM) is the best performing group with 4.3% and 11% on the last day and the last week. We expect prices to rise as these new banks get approval from their respective regulators. With IBM's close ties to the banks, the only effort they have made to expose six banks at once is a big step forward for Stellar and would eventually help support XLM prices.
In the chart, it is clear that buyers are in charge and are trading in an uptrend. As noted in our previous business plans, at-risk traders should refine the inflows in a shorter period of time, taking advantage of the strong bullish momentum – prices are at the top of the BB, with targets at 15 cents.
At the same time, risk averse operators are expected to increase when prices exceed 15 cents. After that, the modest goals would be 30 cents or the peaks of November 2018.
Technical indicators
Volumes increase as the dynamics increase. After crossing the 8 cents mark, average volumes doubled, from 4 million on March 10 to 8 million on March 18, suggesting a demand. However, prices above 11 cents should be with high volumes exceeding 16 million on March 11
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