Stellar's 104% July Surge Nears Golden Cross as Protocol 23 Vote Looms

Stellar (XLM) has seen a remarkable 104% price surge in July, bringing the cryptocurrency closer to forming a golden cross—a technical indicator often associated with sustained bullish momentum. The 50-day simple moving average (SMA) is now approaching the 200-day SMA, with the former trading at $0.297 and the latter at $0.31. This crossover, historically linked to prolonged price uptrends, has drawn attention from investors and analysts as a potential signal of Stellar’s strengthening trajectory. The market’s positive sentiment is further reinforced by robust ecosystem developments and anticipation for an upcoming protocol upgrade.

The Protocol 23 mainnet vote, scheduled for August 14, 2025, is a critical catalyst for Stellar’s growth. This upgrade includes eight Core Advancement Proposals (CAPs) aimed at enhancing network scalability and functionality. Launched on testnet on June 30, 2025, the protocol has already attracted significant developer and investor interest. Analysts highlight that such upgrades often coincide with increased buying pressure, as stakeholders anticipate improved performance and adoption. The vote’s outcome could further solidify Stellar’s position as a blockchain platform prioritizing innovation and long-term sustainability.

Historical context adds weight to the current technical outlook. Stellar’s last golden cross in December 2024 preceded a rally to a local peak of $0.634. While the current setup is still in its early stages, analysts note similarities in trading volume and momentum indicators. Some experts suggest that, if the golden cross confirms and broader market conditions remain favorable, XLM could potentially test the $1 price level. However, such projections remain speculative and depend on continued institutional and retail participation.

Market dynamics also favor Stellar’s near-term prospects. The asset has outperformed many major cryptocurrencies in July, with a 50% weekly gain underscoring strong demand. This momentum reflects a broader shift in investor focus toward altcoins with clear development roadmaps and tangible upgrades. Stellar’s transparent development process and active community engagement have further bolstered confidence, attracting both retail and institutional capital. Positive social media sentiment and increased trading volumes reinforce the narrative of a maturing market for XLM.

The convergence of technical patterns, protocol advancements, and market sentiment positions Stellar as a key player in the crypto space. The golden cross formation, if completed, could serve as a psychological milestone, encouraging additional buying activity. Meanwhile, the Protocol 23 vote represents a foundational upgrade that addresses scalability challenges, a critical factor for sustained adoption. Investors are advised to monitor the vote’s outcome and post-crossover price behavior, as these developments will shape XLM’s trajectory in the coming months.

As Stellar approaches this pivotal juncture, the market remains closely aligned with its technical and fundamental catalysts. The combination of a potential golden cross and protocol-driven improvements creates a compelling case for continued bullish momentum. However, participants should remain cautious, as market conditions can shift rapidly. For now, the focus remains on whether the 50-day SMA successfully crosses above the 200-day SMA, a move that could redefine XLM’s role in the broader crypto ecosystem.