Stellar (XLM) may be the biggest beneficiary of the XRP rally. In this Pooyan Music post, we will see why Stellar Currency (XLM) is the main winner of the Ripple case. Stellar (XLM) rose 5% as correlation with XRP deepened.
The current market rally has undoubtedly been fueled by events in Ripple Labs and the XRP ecosystem. In addition to Bitcoin (BTC), a number of altcoins have also joined this rally. Among these altcoins, Stellar (XLM) is arguably one of the biggest beneficiaries of these rallies. At the time of writing, Stellar is trading at $0.1079, up 5.2% in the last 24 hours.
Of course, this is not the first time that Stellar has seen positive price fluctuations. Because the growth of Stellar exactly mirrors the growth of XRP. A trend that shows a very close correlation. The reason for this is quite visible. Stellar may also benefit from XRP gaining legal recognition that it is not a security in exchange trading. Because Stellar offers the same value proposition as XRP tokens.
Although its origins are closely related to Ripple, Stellar has charted its course over the years to become a successful and independent blockchain payment protocol. Although a direct SEC crackdown cannot be ruled out in the future, XLM is poised to benefit from XRP’s victory. A victory that has now established an unblemished record for related cases in the United States.
Despite the current visible correlation, Stellar is a very diverse protocol with significant milestones.
One of the most notable updates to the Stellar Network is its latest partnership with American fintech company MoneyGram. This partnership includes the creation of a new crypto wallet to further expand MoneyGram’s penetration into the cryptocurrency ecosystem.
Additionally, XLM is known for its real-time price swings among the top altcoins in the ecosystem. In addition to its price, it has apparently launched several protocol upgrades over the past few months. Suffice it to say, the prospect of XRP is a great catalyst to improve Stellar’s very attractive ecosystem.