Amidst the artificial intelligence (AI) frenzy ignited by OpenAI’s ChatGPT, the tech landscape has witnessed fierce competition among industry giants eager to unveil their own cutting-edge AI products. One such formidable contender is Google Bard, a generative AI offering brought to the fore by Alphabet (NASDAQ: GOOGL).
Google Bard has made waves with its impressive capabilities, particularly in predicting future market trends within the financial sector, making it an attractive option for both crypto and stock investors.
After the ruling by Judge Analisa Torres on July 13, 2023, stating that the sales of XRP on public exchanges did not violate US securities laws, Stellar (XLM) surged over 60% in value over the subsequent days. The surge in XLM’s value reached a 14-month high, and during the intra-day trading on July 13, it further escalated by a remarkable 100%, prompting Finbold to inquire about Bard’s perspective on how this momentous victory could potentially impact the future price trajectory of XRP.
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Bard notes that despite the XLM price pulling back, it still remains above its pre-ruling levels and suggests continued adoption of Stellar by more businesses and organizations.
Notably, leading Latin American crypto exchange Bitso integrated Stellar’s Anchor Network to allow companies worldwide to make low-cost USDC payments to Argentina, Mexico, and Colombia.
Meanwhile, Coinbase, the second-largest cryptocurrency exchange in the world, also integrated with Stellar recently and now fully supports USDC deposits and withdrawals through its blockchain network
The protocol, well-known for its efficient cross-border transfer rally, was nothing short of impressive, closely trailing the price surge of XRP in the aftermath of the SEC v. Ripple lawsuit. Naturally, such a surge in price triggered a substantial increase in investor activity, resulting in exceptionally high levels of engagement within the XLM market.
XLM price analysis
Analyzing its recent performance, XLM has shown a bearish trend, with only 12 green days out of the last 30 days, indicating a 40% occurrence of upward price movements.
Based on insights gathered from multiple online sources, it appears that the prevailing sentiment is not favoring a significant price surge for XLM by the end of 2023. Despite its recent positive performance, five price predictions from various platforms indicate that XLM is not expected to trade above $0.20 in the foreseeable future.
Stellar is currently trading at $0.1548, experiencing a slight decline of 2.90% over the course of a day. However, despite this short-term dip, it has demonstrated resilience over the week, marking a notable 5.13% increase.
Notably, XLM’s price trajectory has been bolstered by trading above the 200-day simple moving average, suggesting a potentially favorable outlook for the asset in the eyes of technical traders and market participants who use this indicator as a signal for trends.
Furthermore, XLM boasts a market capitalization of $4.2 billion, a significant metric that highlights its prominence and interest in the crypto space.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
