Stellar (XLM) is gaining strong upward momentum after breaking out of a falling channel pattern, being up more than 15% over the past 24 hours on Friday, August 8.
The rally comes amid a broader wave of crypto market optimism sparked by the potential resolution of the long-running Ripple vs. U.S. Securities and Exchange Commission (SEC) case. Namely, the two parties filed a joint dismissal of appeals on Thursday, August 7, resulting in double-digit gains among multiple assets.
XRP and Stellar are designed to enable fast, low-cost cross-border transactions, but they differ in their market positioning, use cases, and adoption strategies.
Stellar (XLM) price prediction
Following the news, to set a Stellar price target for August 31, Finbold’s AI prediction agent used multiple LLMs to generate an average forecast for improved accuracy while incorporating momentum-based indicators into its context. You can experiment with the existing prompts or create your own. Try here now.
In our prediction, we had the AI analyze moving average convergence/divergence (MACD), relative strength index (RSI), stochastic oscillators, and 50-day moving averages (MA).
Based on the results, the average XLM price target for August 31 sits at $0.487, representing no less than a 17.86% upside from the current price of $0.413.
All language learning models used in the prediction were bullish, although to a different degree.
Claude 3.5 Sonnet was the most optimistic, with a projected price of $0.51, which implies a 23.82% upside from the current price action.
Grok 3 predicted the price would reach $0.480, a 16.08% upside potential from the current price.
ChatGPT-4o predicted a price of $0.470, suggesting a modest upside of 13.67%.
Stellar (XLM) performance
As mentioned, XLM surged 15% following the SEC’s and Ripple’s joint decision to drop the appeals in their long-running case. The news not only led to a surge in price, but the trading volume also rose 260%, now sitting at $1.02 billion, well above the $290 million weekly average.
At the same time, anticipation is building around Stellar’s upcoming Protocol 23 mainnet upgrade set for September 3.
The upgrade is expected to introduce smart contracts and enhanced tokenization features, including parallel transaction processing marketed to decentralized finance (DeFi) apps and real-world asset (RWA) platforms.
Given that RWA transaction volume on Stellar jumped 199% last month, the updates are expectedly a cause for bullish speculation.
Featured image via Shutterstock
