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Visa has made a significant move by integrating Stellar (XLM) into its stablecoin settlement infrastructure. This integration comes as XLM prices rallied sharply, gaining nearly 16% since August 3 to reach daily highs near $0.42 on August 4.
The recent surge in XLM’s price may have been triggered by the partnership with Visa, which could be seen as a sign of validation for the Stellar blockchain and its native token. This newfound support from a major financial player like Visa could provide liquidity and increased adoption for XLM, potentially leading to further gains.
As the rally continues, traders are now eyeing a potential breakout above $1. While this would be a significant milestone, some analysts have expressed concerns about the viability of such an outcome. One analyst pointed out that XLM is currently facing a sell wall at the $0.42–$0.45 band, which has historically capped price action during previous rallies.
To confirm the bullish narrative and avoid another short-term spike like in the past, bulls need to decisively flip this region of supply above the $0.42 mark. Until then, the current move remains speculative and not guaranteed for a sustained leg higher.
The integration with Visa is expected to increase adoption and liquidity on the Stellar blockchain, potentially paving the way for XLM’s continued growth in the coming days and weeks. As such, traders are holding their breaths as the market awaits confirmation from this key resistance level.
Source: coinchapter.com
