The Stellar ecosystem continues to expand. Today they have announced a partnership with global payments company Flutterwave to launch two new payment corridors between Europe and Africa.
To be supported by the Stellar network with their main EU anchor TEMPO, a payment institution that offers its services for the corporate sector, the corridors will process transactions with USDC.
In that way, the partners seek to provide a simplified way of sending remittances between the two continents. Thus, the collaboration could create a positive impact throughout the African region as it provides businesses with friction and accessible digital payment method.
To achieve this objective, the XLM-based companies Flutterwave and TEMPO will create an “affordable Pan-African payments infrastructure”.
In doing so, the partners expect to gain more adoption and acceptance as an alternative payment system as opposed to the more expensive and restricted payment companies in the traditional sector.
The CEO at Flutterware Olugbenga Agboola claimed in a press release shared by the Stellar Development Foundation (SDF) that sending money to the Sub-Saharan region is one of the most expensive processes worldwide.
In that sense, their partnership with the SDF tries to make the process more cost-efficient and accessible. Agboola said the following:
Our new payment corridors on Stellar will allow us to continue expanding the Flutterwave network to bring all-important, cost-effective money transfer services to African business owners.
Africa And The Future Of Payments Power By Stellar
Africa and the Sub-Saharan region have one of the larger unbanked populations in the world. The partners attempt to bring inclusivity and financial access to the millions of people living under these circumstances by reducing remittance costs and proving access to financial services.
Suren Ayriyan, CEO at TEMPO, said the partnership is an exciting step into their expansion using Stellar rails. Ayriyan added:
Customers across Europe will be able to send funds faster and at a lower cost to support their families and conduct business in Africa, landing funds right into their local bank account. We hope to continue working with Stellar anchors to exponentially increase our currency corridors and offerings, providing cheap, secure and fast global money transfers to all TEMPO customers, both existing and new.
Finally, Denelle Dixon, CEO and Executive Director of the SDF called the collaboration with TEMPO and Flutterwave a new advancement to leverage crypto-based technology to improve the financial system. Dixon said:
Flutterwave is doing important work in a region that has been historically underserved, and SDF is committed to helping them create a tangible impact on financial access and inclusion across the African continent and beyond.
As of press time, XLM records 2.2% and 36.2% profits in the and monthly charts, respectively. The cryptocurrency has seen an important price surge due to the constant expansion of its ecosystem.
Stellar price analysis: Price takes upturn to $0.342 after bullish drift
- XLM value has improved up to $0.342.
- Stellar price analysis confirms bullish trend.
- Support is fixed at $0.307 level.
The bulls have successfully made a comeback in the last 24-hours because of the sudden rise in buying activity. The bulls have been maintaining their leading position for the past few days as a constant rise in XLM/USD value can be determined. Today, the price showed a bullish inclination once again due to buyers pressure. The uptrend has enhanced the coin value up to $0.342 high.
XLM/USD 1-day price chart: Price gains stability above $0.342 after bullish trend
The one-day Stellar price analysis shows increasing chances of recovery for the bulls as a rise in XLM/USD value is observed. The price covered an upward movement today; as a result, the coin value has heightened up to $0.342. This is a promising sign for the buyers, as earlier, the situation was quite critical because of the downswing. The price is now standing higher than its moving average (MA) value which is $0.333.
The volatility is decreasing because of the constriction between the Bollinger bands, which is a positive sign regarding the upcoming trends. If we talk about the upper Bollinger band, its value is $0.389, whereas the lower Bollinger band shows $0.307 of value. The Relative Strength Index (RSI) score is at 47.92 now after the recent upturn.
Stellar price analysis: Bullish rally elevates coin value up to $0.342 peak
The four hours Stellar price analysis confirms a strong bullish trend as the price has undergone an extraordinary improvement in the last few hours. The overall recovery has been phenomenal as the price has surpassed the $0.342 hurdle in the last four hours. It can be highly expected that the price will soon cross the $0.346 resistance in the next few hours. The moving average value in the four hours price chart is standing at $0.333.
The volatility is increasing, which is alarming as more downtrends might come ahead. The upper Bollinger band value has thus changed to $0.346, whereas the lower Bollinger band value has now shifted to $0.306. The RSI score jumped high to 61.58 as the bulls have been leading the market for a while.
A strong rise in selling activity has been observed over the span of the past few months. Hence the technical indicators chart supports the bears. There is a selling indication with 11 indicators on the selling mark, ten indicators on the neutral, and five on the buying mark.
The Moving Averages Indicator is also dictating loss for the cryptocurrency by giving a bearish signal. There are ten indicators on the selling position, four on the buying, and only one in the neutral position. The oscillators show a neutral trend for the day as nine oscillators are on the neutral level, while one oscillator each is on the selling and buying levels.
Stellar price analysis conclusion
The hourly and daily price predictions for XLM/USD are going in the bullish direction for the day because of the sudden recovery. The uptrend is at its peak as the price has reached $0.342 height in the last 24-hours. Further upside is to follow in the next few days if the buyers put in efforts to achieve their next target.
Stellar Lumens (XLM) Meridian 2021 Tech Talks Available on Demand
Stellar Expressed: Meridian 2021 tech talks are available on-demand for your viewing pleasure.
Caroline Young points to how users can hear directly from SDF’s Engineering team on what they’ve been building and how users can leverage these advancements for work. The good thing is users need not be technical to enjoy these talks. Those who ask questions will be able to learn something new.
They address three main questions: Why is Layer 2 technology like Starlight relevant to Stellar? What are payment channels in general? How does a Starlight payment channel work on Stellar?
By hearing to what the Engineering team have to say users will have to preview SPEEDEX, which is a new type of decentralized exchange. Users will be able to go behind the scenes on Horizon: Past and Future. Breaking down the KYC Journey with Vibrant. Unlocking DeFi with Stellar Turrets and more.
For those who are beginners, there is an essential crash course on Stellar Core. With some further focus users can understand the real-world use cases with Stellar Ecosystem Protocols.
Those who have inclination towards building on Stellar do not want to miss on this tech talk. Also, they point to SEPs, which are especially advantageous for new entrants to the ecosystem, since once they employ SEPs. Thus, they are able to immediately integrate with all the existing services on Stellar already compatible with these protocols.
Community Reaction: Worrisome Concerns of the Stellar Investor Community: How long do we have to wait? Is 5 years a short time? Why do you only sell when you don’t want to raise the value? Don’t you feel anything when you see the evaluation in the market?
3 Guarantees in this life 1) Death 2) Taxes 3) Stellar makes an announcement/tweet/ update they dump their bag and price tumbles.
Pretty sure a lemonade stands down the block could generate more hype than Stellar at this point. This is getting sad. Stellar dumps their bag then scared to market and grow why? Are you afraid of the SEC labelling you a security? So, you guys are inside cashing out now?
How long do we have to wait? Is 5 years a short time? Why do you only sell when you don’t want to raise the value? Don’t you feel anything when you see the evaluation in the market?
Stellar is the most centralized chain, and SDF is the most greedy and hypocritical team in the crypto world, dumping every day.
Stellar price analysis: XLM aims for $0.443 high after 6 percent rise
- Stellar price up 6 percent on intra-day, rising as high as $0.3476
- Price targeting 90-day high of $0.443 if $0.385 resistance is crossed
- Trading volume also up more than 4 percent
Stellar price analysis for the day confirms beginning of an uptrend for the token. Price went up more than 6 percent on the day with trading volume also rising over 4 percent. Price showed a high of $0.3476 which was the first time at this level since November 17. Since then, XLM has been facing a turbulent period with price struggling to consolidate. Now, after crossing the crucial 20-day Exponential Moving Average, Stellar price could be up to go as high as $0.443 once the $0.385 resistance is crossed.
The larger cryptocurrency market showed gains during the day’s trade, with Bitcoin rising 4 percent to sit just under $59,000. Ethereum crossed the $4,500 mark with a 7 percent rise with major Altcoins showing positive results as well. Cardano upped 5 percent to sit at $1.69, Ripple 4 percent to $1.05, and Solana 5 percent to $210.91.
XLM/USD 24-hour chart: Price looking to go up after moving past EMA
On the 24-hour chart for Stellar price analysis, price looks to be making significant inroads towards the resistance point at $0.387 after crossing the crucial 20-day EMA at $0.3429. The 24-hour Relative Strength Index (RSI) sits at 46.60 and looks to be gaining value to present an ideal valuation for traders to invest in XLM. Price currently sits just above the EMA at $0.3469 at the time of writing, with the Moving Average Convergence Divergence (MACD) curve also showing a favourable picture for the token.
XLM/USD 4-hour chart: Price closes as high as $0.3481
The 4-hour chart further validates the emerging positive trend for XLM, with price rising as high as $0.3481 on the closing trading session. The RSI presents an ideally poised value of 55.97 which represents a strong market valuation for XLM. The MACD curve also indicates bullish momentum as it heads towards the 0.00 mark after clearing the neutral zone. From this stage, price will look to close above $0.35 over the coming trading sessions with the RSI continuing to add value along with the larger cryptocurrency market.
Stellar price analysis: Conclusion
From majority technical indicators and candlestick charts, it can be confirmed that XLM is undergoing an uptrend that is poised to take price as high as $0.443. With price boosting up over 7 percent on the day, the current trend is well in touch of the $0.387 resistance point. Once this region is ticked off, price will open doors to settling above $0.4. However, any movement below $0.321 over the next few trading sessions may invalidate the bullish thesis.