- Stellar (XLM) is up 3% in 24 hours amid broader altcoin gains.
- XLM price could be on the cusp of a major bullish breakout, with several catalysts likely to fuel bulls’ upsurge.
- A short term spike to $0.93 is possible, but buyers face resistance between $0.35 and $0.56.
Stellar (XLM) price rose on Wednesday, recording a 3% increase on a number of potential bullish catalysts.
As sentiment around exchange-traded funds and decentralized finance helped top altcoins higher, Stellar price jumped to $0.28.
Metrics such as total value locked and funding rates as well as the technical outlook for XLM suggest a possible breakout.
Why is XLM price up today?
Stellar’s price gain comes amid a surge for XRP, Solana and Cardano – all eyeing key levels as chatter around the altcoin season increases.
Recent comments from the Commodity Futures Trading Commission and the Securities and Exchange Commission have added to this upbeat mood.
Notably, investors are also seeing increased chances of the SEC approving top crypto ETF applications in coming months.
According to Bloomberg ETF analyst Eric Balchunas, Litecoin, XRP and SOL sit at the top of the ladder in terms of approval odds.
Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7
— Eric Balchunas (@EricBalchunas) June 10, 2025
With XLM mirroring XRP in recent months, it is possible the coin could record a notable surge.
This is further cemented by the move by Nasdaq to add Stellar, Ripple (XRP), Solana (SOL) and Cardano (ADA) to its benchmark crypto ETF price index.
Nasdaq recently filed a Form 8-K with the SEC for the Hashdex Nasdaq Crypto Index US ETF, with details showing it added the four digital assets to the Nasdaq Crypto US Settlement Price Index (NCIUS).
Regulatory restrictions mean the crypto index currently only holds Bitcoin and Ethereum. However, with filings for SEC approval before the regulator, analysts say the summer and next few months will be crucial.
Stellar price forecast
XLM price reached highs of $0.60 in December 2024, and is up 187% since trading at lows of $0.1 in November.
A look at the Stellar price chart shows the token currently trades at a key support level above $0.25.
Importantly, bulls looked poised for a breakout above the descending trendline of a triangle formed since November.
The daily chart has the Relative Strength Index (RSI) at 54 and pointing at upwards continuation.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator has formed a bullish crossover, signaling possible strengthening for bulls.
If XLM mirrors top altcoins, it could break above $0.35 and target highs seen in early December 2024. All-time highs around $0.93 seen in 2018 may be on the bulls menu in 2025.
However, this short-term outlook could face notable hurdles if bears take control below $0.30.
