Bitcoin

XLM price increases 30% in one day as positive sentiment shifts from XRP to Stellar

Stellar (XLM) wins the blockchain battle against Ripple this weekhow the feeling leans in your favor.

The monitoring resource data The tie confirm that Long-term sentiment towards XLM is now higher than it is towards XRP, the altcoin that beleaguered Ripple is most interested in.

The sentiment towards XLM surpasses XRP

The numbers serve as a final warning XRP investors who have watched with dismay how Ripple’s legal troubles in the US cause its value to drop more than 60%.

XLM / XRP line graph. Source: CoinGecko
XLM price increases 30% in one day as positive sentiment shifts from XRP to Stellar
XLM price increases 30% in one day as positive sentiment shifts from XRP to Stellar

From January 5th the long-term sentiment score compared to The tie for XLM at 70, for XRP however below 70. Before legal action, XRP sentiment was at an all-time high.

XLM vs XRP daily and long-term sentiment scorecard. Source: THE TIE

The deal with Ukraine provides for XLM to join the 2021 off-season

Stellar received a boost this week in the form of a high profile partnership with the Ukrainian government., under which it will help legislators digitize the national fiat currency, the Grivna.

The XLM / USD pair then started rising, increasing its price 30% to hit $ 0.176 on Tuesday.This corresponds to the highest level since November 2018. The number of transactions last week reached new highs.

XLM / USD (Bitstamp) one day candlestick chart. Source: TradingView

While it remains unclear to what extent the XLM token will be included in Ukrainian solutions, Stellar executives have confirmed that the payment system will be an important part of the business.

“We look forward to working with the ministry and other stakeholders to digitize the hryvnia, provide Stellar-based tools and services to people and businesses in Ukraine, and introduce new partnership opportunities for businesses in the Stellar ecosystem in Ukraine.”Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, commented on this in an accompanying press release.

The XLM earnings form a burgeoning altcoin revival that has quickly become a calling card for 2021.

As Cointelegraph reported, Several large-cap altcoins are up more than 40% weekly, and some have seen price levels rebound after a three-year hiatus.

These moves are accompanied by a slowdown in Bitcoin (BTC), which hit its own all-time highs of $ 34,800 and briefly fell to $ 27,700 on Monday. A period of consolidation is key to allowing altcoins to thrive. Cointelegraph Markets analyst Michaƫl van de Poppe explained.

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