Stellar Lumens price formed a God candle and rose to a one-week high as other cryptocurrencies retreated.

excellent (XLM) to $0.3822, up more than 22% from this month's low, bringing its valuation to more than $11 billion.

This spike occurred as the company's facilities continued this week. In a note issued on Tuesday, the developers announced a partnership with Fonbnk, a solution that enables a seamless solution to digital banking in Africa. It allows anyone with a mobile SIM card to access digital banking solutions using Stellar technology.

Stellar's recovery also occurred due to its close relationship with Ripple (XRP), which was formed Bullish flag patternPointing to more gains. Both currencies are likely to benefit when Donald Trump is inaugurated as President of the United States later this month.

Ripple hopes that end The era of Gary Gensler It will usher in a new period of friendly regulations in the cryptocurrency industry. One possible victory would be the end SEC Appeal against A ruling in which a judge ruled that XRP is not a security.

There are also possibilities that Securities and Exchange Commission, under Paul Atkins, It will approve a spot XRP exchange-traded fund later this year. WisdomTree, a company with assets of more than $100 billion, has already applied for one.

Meanwhile, Stellar's blockchain is still growing. according to Sand dunesIts network handled more than 1.16 million smart contract calls, up from almost zero in the same period last month. I did it without any hitches.

Star price has bullish technicals

The daily chart shows that XLM price has rebounded after forming major bullish patterns. It has formed two Doji candlestick patterns, which is a common reversal signal. A Doji is a candlestick pattern consisting of a small body and an upper and lower shadow, indicating that it was opened and closed at the same level.

More importantly, Stellar is forming a falling wedge chart pattern. This pattern consists of two converging downtrend lines and often results in an upward breakout when the two lines are near their ends.

Therefore, a breakout and subsequent move above the 50-day moving average and the 50% Fibonacci retracement, indicates further gains. This means that the coin could jump to the highest level recorded last year at $0.6400, which is about 63% higher than the current level.