Stellar is becoming increasingly popular with each day that passes, and everyone is eagerly awaiting for the XLM 2023 price prediction. Considering its 143% surge from one year ago, it is no wonder why Stellar is among the top cryptocurrencies.
Thus, let’s see what 2023 predictions are there for Stellar.
Table of contents
- XLM Price Prediction | Introduction
- XLM Price Prediction: Technical Analysis
- XLM Price Prediction: Market Opinions
- XLM Price Forecast for November – December
- XLM Price Forecast for 2023
- Cryptocurrency Experts and Influencers
- Latest News about XLM
- XLM Price Prediction: Final word
XLM Price Prediction | Introduction
The XLM price stands around $0.1096 at the time of writing. This cryptocurrency offers numerous benefits, such as:
- Fast, cost-effective, and easy currency conversion;
- A readily accessible, fully transparent system;
- A decentralized platform and seamless transactions.
On the other hand, it has its drawbacks, such as the fact that mining XLM is not possible by design, and the supply of lumens only increases by 1% annually. Also it is not commonly recognized as a payment mechanism.
XLM Price Prediction: Technical Analysis
Since it is relatively new to the market (6 years of operation), XLM is still in the price discovery process. This can cause significant price movements, which often discourage investors. It has a brighter future than other cryptocurrencies since it is used by many corporations, including those in the supply chain and logistics industries.
However, its centralization may be its most significant barrier to pricing traction. It only has 66 nodes (in November 2022), all of which are business entities that must be validated in order to secure the network. Such centralization may impact the pricing in order to keep transaction costs low for corporations that use it for settlement and other purposes.
XLM is a highly volatile asset that appears to be influenced by underlying market sentiment. Between 2014 and 2017, XLM/USD traded for pennies on the dollar. Then, once the 2017 bull run began, Stellar rocketed from approximately $0.01 to $0.90 – a massive rise. Stellar, like much of the crypto market, fell after this peak, and from 2019 to early 2021, XLM entered a ranging phase. However, it managed to stay over $0.01 and even reached the $0.10 level at times.
Stellar Lumens burst through numerous critical price levels as 2021 proceeded, but it was unable to repeat its 2017 all-time high. The price of XLM fell once more; however, unlike the bear market that started in 2018, right after the bull run, it did not fall to its prior low. Moving to 2022, let’s look at a summary of XLM prices for the last six months.
|Month||Open Price||Closing Price||Month High|
Sidenote. The numbers mentioned above can be consulted in this source.
XLM Price Prediction: Market Opinions
Analyzing the prices from previous years, XLM crypto is projected to reach the $0.2 price barrier and make a big upward swing in 2023. If it fails to break through this barrier, it will most likely trade between $0.169983 and $0.209979, with an average of around $0.17.
However, experts tend to come with surprisingly contrasting opinions.
According to Coinjournal’s research, the estimate is $0.48. The report suggests that the Stellar network and blockchain may become a top network for interoperability between new and conventional financial infrastructure by 2023.
On the whole, XLM’s price prediction strongly depends on how the Stellar transaction volume will act.
XLM Price Forecast for November – December
According to Changelly, XLM is expected to have an average rate of $0.119 in November 2022. At the same time, the minimum rate is expected to be $0.099, while the maximum would reach $0.119.
When it comes to how Stellar will act in December 2022, Long Forecast expects the cryptocurrency to have equal open and closing rates of $0.11, with a low of $0.09 and a high value of $0.12.
XLM Price Forecast for 2023
According to PricePrediction, XLM is forecasted to go over $0.21, with a minimum price of $0.17 at the end of 2023.
CryptoNewsZ considers that Stellar Lumens could continue to rise, and by the end of 2023, it might reach the price of $0.33. The projected high for 2023 is approximately $0.34, while the predicted low is around $0.28.
Cryptocurrency Experts and Influencers
As Stellar continues to attain new highs, Bitnation.co’s algorithm predicts that in 2023, Stellar will reach a maximum price of $0.31125, with an average price of $0.277902. If the bear market continues or even gets worse, the lowest price that XLM might hit in 2023 is $0.244554.
Ambcrypto.com considers that the XLM’s should vary between $0.44 and $0.5, with the average price of XLM hovering around $0.47 at the start of 2023 and between $0.57 to $0.66 and an average price of around $0.61 by the end of the year.
Latest News about XLM
According to a Capital.com article published on September 23, 2022, XLM’s price plummeted after an update that allows users to transfer crypto via email. XLM’s price increased by 21% in the first seven days of the announcement.
The Stellar Lumens network was integrated with Tildamail, a decentralized email and storage platform. This partnership now allows XLM holders to transfer their cryptocurrency via email.
Over seven million account holders will first have access to the service.
What Is XLM?
Developed by blockchain-based distributed ledger network Stellar Development Foundation, the lumens cryptocurrency is a digital or virtual currency. XLM is traded on several cryptocurrency platforms, such as Coinbase, Binance, or Kraken.
What Is XLM Used For?
XLM is the heart of the Stellar cross-border transaction experience. It enables the construction of digital representations of the United States dollar or any other currency. When money is exchanged between parties, lumens are used to symbolize a dollar. This can have a significant influence on cross-border transactions.
XLM Price Prediction: Final word
Stellar Lumens has seen a lot of popularity during its 6 years of existence. With surprising raises, as well as expected falls, XLM is expected to maintain its growing trend during 2023, too.
Multiple sources give contrasting predictions on the price of XLM in 2023. However, XLM’s price strongly depends on multiple factors, and crypto investors should always check the values in real time.