XRP News Today: Stellar (XLM) Surges 75% Weekly, Outpaces XRP

Stellar (XLM) has made a significant impact in the cryptocurrency market with its impressive weekly performance. According to data, XLM soared by 63% over the past week, dramatically outpacing Ripple-linked XRP, which recorded a 39% increase despite its strong rally. While XRP approached its 2018 record, reaching $3.65, XLM’s momentum and a market capitalization nearing $15.6 billion shifted investors’ focus towards this altcoin.

Among the top 100 cryptocurrencies, XLM recorded the highest weekly gain of 63%, catapulting it to the top of the list. Although XRP performed robustly with a 39% increase during the same period, it remained significantly behind XLM. Other notable altcoins, such as Bonk (BONK) with a 52% surge and Pudgy Penguins (PENGU) with a 45% rise, closely followed XLM’s lead. Additionally, Hedera (HBAR) and Algorand (ALGO) posted gains exceeding 40%, pushing XRP out of the top five cryptocurrency gainers of the week.

The surging market capitalization of XLM has reignited discussions regarding its potential re-entry into the top 10 largest cryptocurrencies. Previously entering the top 10 briefly in early 2021, XLM would now need to double in value to surpass Tron (TRX) and Cardano (ADA).

XLM has a notable historical connection, having been founded by Ripple’s co-founder and former CTO, Jed McCaleb. This shared past encourages investors to assess both altcoins collectively. Despite Ripple CTO David Schwartz expressing uncertainty about what drives XLM’s price, the shared origin leads to investor perceptions aligning XLM with XRP. This perception is reinforced by current market trends, with XRP peaking at $3.65 and XLM reaching up to $0.52.

Stellar (XLM) has recently made significant strides in the cryptocurrency market, surpassing Ripple's XRP with unprecedented weekly gains. This surge has positioned XLM as a formidable player in the altcoin space, attracting the attention of investors and analysts alike. The cryptocurrency has witnessed a remarkable 75% increase in value over the past week, nearing the $0.50 mark. This bullish momentum is a testament to the growing confidence in XLM's potential and its ability to outperform other digital assets.

The recent gains of XLM can be attributed to several factors. Firstly, the cryptocurrency has benefited from a broader altcoin rally, as traders rotate their investments from Bitcoin to other digital assets. This trend has been driven by the increasing recognition of the potential of altcoins, which offer diverse use cases and technological innovations. Secondly, XLM's strong performance can be linked to its ecosystem upgrades and cross-border payment solutions, which have enhanced its appeal to investors. The cryptocurrency's focus on facilitating fast and low-cost transactions has positioned it as a viable alternative to traditional payment systems.

The surge in XLM's value has also been fueled by the growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs). As these sectors continue to gain traction, XLM's role as a bridge currency in the DeFi ecosystem has become increasingly important. The cryptocurrency's ability to facilitate seamless transactions between different blockchain networks has made it an attractive option for DeFi platforms and NFT marketplaces. This has further contributed to its recent gains and solidified its position as a top-performing altcoin.

The unprecedented weekly gains of XLM have not only surpassed XRP but have also outpaced other major cryptocurrencies. While XRP has sustained a nearly 10% gain, reaching $3.32, XLM's 75% surge has positioned it as one of the top gainers in the market. This performance has been particularly noteworthy, as it has occurred amidst a broader altcoin rally, with several other cryptocurrencies also experiencing significant gains. The top gainers this week, with over a 50% rise, include CRV, PENGU, BONK, and ALGO, in addition to XLM. This highlights the growing momentum in the altcoin market and the increasing recognition of XLM's potential.

The recent gains of XLM have also been driven by the evolving regulatory landscape for cryptocurrencies. The United States has made significant strides in advancing cryptocurrency legislation, with the passage of key bills. These legislative measures aim to provide a clear legal framework for digital assets, reducing regulatory uncertainty and fostering innovation in the sector. The evolving regulatory landscape for cryptocurrencies has contributed to the growing confidence in the cryptocurrency market and has supported the recent gains of XLM.

In conclusion, Stellar's (XLM) unprecedented weekly gains have positioned it as a top-performing altcoin, surpassing Ripple's XRP and attracting the attention of investors and analysts. The cryptocurrency's strong performance can be attributed to its ecosystem upgrades, cross-border payment solutions, and growing interest in DeFi and NFTs. The evolving regulatory landscape for cryptocurrencies has also contributed to the recent gains of XLM, as legislative measures aim to provide a clear legal framework for digital assets. As the cryptocurrency market continues to evolve, XLM's potential for further growth and innovation remains promising.