Stellar (XLM), often seen as a competitor to XRPmay be ready for a price rebound, according to market insights. Well-known cryptocurrency analyst It indicated a potential buy signal on the daily chart of XLM, but there is a problem.

The TD Sequential indicator, a popular technical indicator used to identify potential trend reversals or continuations in asset prices, is what is used to identify a buy signal. It looks at a series of candlesticks to see if the market is overbought or oversold, and gives traders a heads-up about when they should make a move. Right now, it looks like XLM could be on the rise as long as it remains supported at $0.33.

If we want to see a recovery in XLM, the market needs to ensure that the support level at $0.33 holds. This level is like a psychological and technical bottom, and if it holds, it could lead to more buying, which is good for the market. But if it collapses, it could indicate a downtrend, which could make it more difficult XLM To bounce back.

short, Star price The move is a very exciting opportunity for traders, but it all comes back to the key $0.33 level. The next few days will be important in determining whether XLM can capitalize on the current uptrend or whether it will continue to decline.

The story of XLM and XRP

Stellar has always been a competitor to XRP, as both cryptocurrencies focus on cross-border payments and financial inclusion. Both have similar roots, with Stellar co-founded by Ripple co-founder Jed McCaleb.

While XRP targets financial institutions, XLM is more focused on providing affordable financial services to people who do not have access to them. But even with these differences, they are often competing for a share of the blockchain payments ecosystem.