XRP Rival XLM Rockets 15% in Mystery Rally, Defies Death Cross
2025-01-01
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The price of Stellar token XLM started 2025 with a bang, skyrocketing 15% during the trading session on Jan. 1. What's behind the surge is the abnormal buying activity, with XLM's trading volume increasing by 94.28% over the past 24 hours. What triggered such a buying spree remains an open question, however, as there are no obvious fundamental or technical reasons for such performance.
Typically, XLM's price movements have been tied to XRP's performance, often acting as a high-beta alternative to the fourth largest cryptocurrency.
However, this recent rally has occurred independently, diverging from XRP's behavior. Stellar and XRP have long been considered competitors in the blockchain payments space, with overlapping but distinct focuses.TradingView">
While XRP targets financial institutions, Stellar aims to provide affordable financial services to the underbanked population. Both cryptocurrencies share a similar origin story, with Stellar being co-founded by Jed McCaleb, a co-founder of Ripple.
Death cross rally — what?
It is also worth noting that the price of XLM found its ceiling at the 23-day moving average, which is considered a strong short-term price indicator.
Recently, it fell and crossed below the 50-day moving average, forming a local "death cross" — an ominous pattern that is believed to precede the downtrend — but XLM has been pumping, which also deepens the mystery behind its price action.
All in all, the Stellar token is now the most profitable token of the last 24 hours out of the top 100 largest cryptocurrencies — definitely not something you would expect in 2025, but here we are.