This XRP competitor set to go parabolic
Stellar (XLM), a direct competitor to XRP in cross-border payments, may be on the verge of a major breakout after months of sideways movement, with technical signals pointing to a potential parabolic rally. According to TradingShot’s Analysis shared in a TradingView post on August 25, since the July 14 weekly high, Stellar has consolidated while remaining supported by its 50-week moving average. XLM price analysis chart. Source: TradingView This price action fits within a broader multi-year ascending triangle pattern, with the latest consolidation resembling a bull flag. Historically, similar setups have marked the beginning of explosive rallies. Notably, the same structure appeared in late 2017. After holding the MA50 during that period, Stellar staged a parabolic rally, peaking just above the 1.618 Fibonacci extension level. Currently, attention is on whether Stellar can break through the top of its triangle, which is defined by the lower-highs trendline. ...