Stellar (XLM) cryptocurrency has surprisingly surged, gaining over 120% in just one week, breaking through its monthly price range and drawing attention across the entire altcoin market. According to TradingView data, XLM jumped from around $0.23 to $0.52 — the highest price since 2024.

Stellar cryptocurrency surprises with a 120% surge

Stellar (XLM) ranks among the most profitable cryptocurrencies in recent weeks within the top 100 projects. After a sharp increase, the price stabilized, and according to technical analysis, a sideways structure began forming. This consolidation may signal further growth, especially if a technical breakout to the upside is confirmed.

In the short term, it’s crucial for XLM to continue forming higher local lows, which would indicate a sustained uptrend. If XLM manages to break out of the triangle formation to the upside, it could lead to another impulsive rally. However, the current development is still unconvincing, and traders should wait for a clear confirmation of the movement.

Why is XLM’s price rising so rapidly?

This sharp rise is driven not only by technical analysis but also by growing optimism surrounding the upcoming Protocol 23 upgrade, which is set to change Stellar’s network architecture. This upgrade will introduce Soroban – Stellar’s native smart contract platform that enables decentralized application development directly on the network, according to a Cryptorank report.

This transforms Stellar from a fast payment infrastructure into a fully programmable solution competing with Ethereum or Solana. Major changes in functionality, expanded transaction capabilities, and improved data processing flexibility create a brand-new beginning for this cryptocurrency. The mainnet approval of Protocol 23 is scheduled for August 14, 2025.

This move could open doors for asset tokenization, DeFi applications, and Web3 development, previously inaccessible on Stellar. The result is growing demand for XLM and strong buying pressure, suggesting the market views this rally not as a temporary hype, but as a response to fundamental transformation.

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