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Stellar and Ripple are two of the largest payment-focused cryptocurrencies in the world. Ripple’s XRP has a market cap of over $25 billion, while Stellar’s XLM is worth over $2.5 billion. Another similarity between the two is that Stellar founder Jed McCaleb was one of his Ripple co-founders. So, is it better to buy XRP or XLM?
The price of XRP has dropped about 40% this year. The coin underperforms his S&P 500 and Dow Jones, but outperforms most cryptocurrencies such as Bitcoin, Stellar and Ethereum. It’s up more than 73% from its low this year.
XRP has outperformed other cryptocurrencies in the past few months due to ongoing lawsuits by the Securities and Exchange Commission (SEC). Last month, an overseeing judge ruled that the SEC should provide documents from Hinman, which was seen as a victory for Ripple. As such, analysts expect the company to win the lawsuit.
XRP is also on the rise due to partnerships among ongoing cases. For example, this week the company partnered with companies such as his I-Remit and LemonWay, a payment giant from France and Sweden.
therefore, XRP price The bulls are targeting the next critical resistance level of $0.6595, so it will continue to move higher. This is about 32% higher than current levels.
Stella A blockchain project that allows people to store and move money. There are platforms that can create digital representations of money such as pesos and US dollars. Stellar is primarily used by fintechs and other money transfer companies such as MoneyGram and Wyre. The price of its native token, his XLM, has fallen by more than 60% this year.
USD Coin is one of Stellar’s biggest use cases. It was used by Circle to build stable USDC, one of the world’s most popular stablecoins with a market cap of over $45 billion.
A key challenge for Stellar is that Binance, the world’s largest exchange, has converted its USDC balance to Binance USD. At the same time, Circle’s plans to go public in New York stalled.
Stellar Lumens and Ripple are one of the world’s largest payment cryptocurrencies. Although the two coins are correlated, Ripple’s price may be better than Stellar’s. Besides, it has a catalyst in the ongoing SEC vs. Ripple case.
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