XRP, Litecoin (LTC), and Stellar (XLM) show signs of potential recovery despite the cryptocurrency market decline, according to data from Santiment.
Stellar (XLM) experienced a promising rebound along with other altcoins, but the gains were short-lived as XLM's fortunes quickly reversed, resulting in significant losses and uncertainty regarding its future trajectory.
XLM, the native token of Stellar, surged 10% to a weekly high of $0.125, becoming the world's 22nd largest cryptocurrency, while Bitcoin struggles and Ethereum trades at around $1,635; Stellar aims to promote efficient cross-border payments and has established partnerships with Circle and MoneyGram International.
Analyst Bluntz predicts that Ethereum (ETH) will continue its bearish price action and potentially drop to $1,440 before rallying, while other trader Benjamin Cowen believes the digital asset could experience a massive freefall, potentially reaching lows below $800.
Bitcoin (BTC) and Ethereum (ETH) experienced stable prices over the week, while Bitcoin Cash (BCH) and Toncoin (TON) saw notable price increases, and Stellar (XLM) suffered a decrease; Sony is developing a blockchain network in collaboration with Startale Labs, PayPal launched crypto to USD off-ramps, and Deutsche Bank partnered with Taurus for custody and tokenization services.
Stellar's XLM price drops 11% despite releasing a high-budget commercial, Bitcoin-exchange Swan experiences a hack prompting Ripple's acquisition of Fortress, OneCoin co-founder Karl Greenwood sentenced to 20 years, more Ethereum spot ETF applications are being submitted, Google Cloud becomes LayerZero's default oracle operator, Binance faces challenges with CEO resigning and layoffs, and SuperRare announces layoffs.
Ethereum is predicted to experience a surge in prices by the end of the year, with the leading smart contract protocol potentially reaching as high as $2,000, according to crypto strategist Inmortal, who also believes Bitcoin will rally back to its resistance at $27,300. Additionally, Inmortal is keeping a close watch on Radix (XRD) as it gears up for its mainnet launch of the Babylon upgrade.
Ether (ETH) is showing positive prospects as a technical analysis indicator suggests a bullish signal, with a counter-trend buy signal indicating support at $1,580 will hold, despite other studies favoring a deeper price slide.
Bitcoin's price may experience a significant drop to $19,000 before entering a full bull market next year, according to a trader who accurately predicted the cryptocurrency's 2018 bear market bottom; the trader also suggests that the smart contract platform Avalanche's altcoin bounce is over after failing to break resistance at $11.
