- Stellar’s partnerships with Mastercard and Franklin Templeton could boost XLM’s credibility and long-term growth potential.
- XLM faces stiff competition from XRP, and its future growth may depend on broader market dynamics and adoption rates.
In line with the recent development regarding Stellar’s (XLM) resilience, we discussed that XLM managed to spark investor interest, with bullish growth on the horizon. Currently, XLM is showing signs of a resurgence and is poised to reclaim previous price levels if its momentum continues.
As shared in a recent tweet by a community member, Puppeteer, these partnerships could enhance XLM’s credibility and market use cases, potentially driving long-term growth. However, market dynamics and the adoption rate will be key.
These partnerships could enhance $XLM‘s credibility and market use cases, potentially driving long-term growth. However, market dynamics and adoption rate will be key. $MA $BEN
— Puppeteer (@GorillaPodcast1) October 19, 2024
Competition with XRP and Market Perception
In another CNF update, recent partnerships, such as the collaboration with Mastercard, which aims to integrate Mastercard’s Crypto Credential solution with the Stellar network, are seen as promising developments. The success of these initiatives, however, will largely depend on broader market dynamics and XLM’s adoption rate.
XLM faces strong competition in the crypto space, often being compared to XRP due to their similar use cases. The XRP community has been vocal about XLM’s performance, with one user noting, XLM booms when XRP moves first, implying that XLM’s success might hinge on XRP’s market performance.
While both assets have historically shown correlation, only time will tell if XLM’s partnerships can sustain its growth independently. Critics, however, question the novelty of XLM’s recent announcements, noting that the partnership between Stellar and Mastercard dates back to 2019, casting doubt on the impact of the latest developments.
As of today, Stellar (XLM) is trading at $0.0955, with a price decrease of 1.93% in the past day and a 1.95% surge in the past week.