XRP News Today: Stellar’s XLM Surges 104% as Protocol 23 Upgrade Fuels 50% Weekly Rally

Stellar’s XLM has surged over 104% since early July, breaking a multi-month descending channel and signaling a potential trend reversal as Protocol 23 upgrades gain traction. The token’s price climbed from $0.22 to $0.52 during the period, with the 50-day moving average (MA) nearing a bullish Golden Cross with the 200-day MA—a pattern historically linked to significant price rallies. Analysts note the last occurrence of this technical signal in late 2024 propelled XLM to a local peak of $0.63, raising speculation that the $1 milestone could become a realistic target.

The Golden Cross, a key indicator of long-term bullish momentum, has intensified investor confidence. Trading volume recently crossed $654 million in a 24-hour window, while the price stabilized around $0.472 as of the latest report. Over the past seven days, XLM gained an additional 50%, outperforming many major cryptocurrencies. This surge aligns with the activation of Protocol 23, a network upgrade scheduled for a mainnet vote on August 14. The update includes eight enhancements targeting smart contract scalability, transaction throughput, and user capacity—factors expected to bolster Stellar’s position in the cross-chain and DeFi ecosystems.

Technical analysis further reinforces the bullish narrative. XLM’s breakout from a descending channel, confirmed by on-chain data, marks a structural shift in market dynamics. As noted by crypto analyst Froggy, the price is now consolidating above former resistance levels, a typical precursor to continued upward movement. This consolidation phase, coupled with rising on-chain activity, suggests the token may maintain its momentum.

Protocol 23’s focus on interoperability and transaction efficiency has drawn comparisons to XRP’s recent performance, particularly in blockchain remittance and payment use cases. However, analysts caution that XLM’s trajectory depends on sustained institutional adoption and favorable regulatory conditions for cross-chain protocols. Bitget’s price projections for 2025 reflect this cautious optimism, estimating XLM at $0.4356 in July 2025, $0.4375 in August, and $0.4449 by December. While these figures remain below the $1 threshold, they highlight the market’s recognition of Protocol 23’s potential to drive utility and adoption.

The broader crypto market has also contributed to XLM’s surge. Institutional interest in Bitcoin and Ethereum, along with the approval of ProShares Ultra XRP ETF, has created a favorable tailwind for tokens with clear use cases. XLM’s Fear and Greed Index has shifted toward bullish territory, reflecting reduced concerns about prolonged bearish trends. Nevertheless, analysts emphasize that any move above $0.50 must be validated by sustained on-chain metrics, including wallet growth and stable trading volumes.

Protocol 23’s strategic alignment with cross-chain communication trends positions XLM to capture a larger share of the DeFi and remittance markets. However, competition from projects like Solana and XRP—recently bolstered by ETF launches and regulatory progress—remains a key variable. Traders are closely monitoring whether XLM can maintain its momentum amid broader market volatility and competing innovations.

For now, the Protocol 23 upgrade has reinvigorated discussions around Stellar’s role in blockchain interoperability. With institutional-grade tools and growing retail participation, XLM’s trajectory underscores how technical upgrades can reignite interest in established cryptocurrencies. While the path to $1 remains contingent on external factors, the current technical and fundamental setup suggests the token is far from exhausting its upward potential.

Source: [1] [Stellar (XLM) Surges to $0.48 as Protocol 23 Upgrade Fuels 100% Weekly Rally](https://cfgi.io/stellar-fear-greed-index/) [2] [For Stellar monthly price predictions](https://www.bitget.com/price/stellar/price-prediction) [12] [Stellar’s XLM Shows Ultra-Bullish Pattern—Just Like XRP](https://cryptonews-flash.com/2025/07/12/stellar-xlm-shows-ultra-bullish-pattern-just-like-xrp/) [13] [ProShares Ultra XRP ETF Approved for NYSE Arca Listing](https://cryptopotato.com/sec-approves-proshares-xrp-etf-launch-imminent/)