The stellar (XLM) has increased by more than 10% in the last 24 hours, closely reflecting the movement up of XRP. This increase comes in the middle of optimism that more cryptocurrencies will soon join Bitcoin (BTC) and Ethereum (ETH) to acquire their funds (ETF) negotiated in exchange for points, because the SEC reveals new updates on ETF Crypto deposits.
The American Securities and Exchange commission has recognized the documents of the Grayscale documents of crypto assets to list the SPOT XRP and Dogecoin Exchange (ETF) funds.
The thanks of February 13 for the sec of the Grayscalat 19b-4 form for the Grayscale XRP Trust and the Grayscale Dogecoin Trust could imply that the clock will soon start to check so that the regulator examines and decides applications within 240 days .
The 240 -day countdown will start when Graycale’s deposits are subject to the Federal SEC register, which should occur in the coming days. If it is filed today, the DEF’s deadline for the DEC would be in mid-October.
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XRP increased by more than 13% in response to the news. This positive feeling surrounding XRP spread to Stellar (XLM), which has increased by more than 10% in the last 24 hours.
Historically, XLM has reflected the action of XRP prices, so that the recent increase in the XLM price remains one of the many cases where the XLM price appreciated in response to the overvoltage of XRP prices.
XLM price action
At the time of writing this document, XLM has increased by 10% in the last 24 hours to $ 0.35, on the right track for the fourth day of consecutive winnings since February 11. then trends.
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The XLM price is still consolidated in its daily moving means of 50 and 200, or $ 0.397 and $ 0.237, respectively.
A movement above or below could determine the next Stellar movement, determining if the rebound continues or encounters resistance. A movement above the SMA 50 daily could strengthen the bullish feeling, possibly targeting $ 0.51 to $ 0.63, while a drop below the SMA 200 daily may indicate a possible withdrawal.
With the momentum, all eyes are on the question of whether XLM can maintain its earnings or whether the profit taking to a temporary recharge time.
