MoneyGram, which ended the partnership between them by stepping away from Ripple after the SEC’s lawsuit with Ripple, announced that it has now reached a partnership with Stellar (XLM), which is seen as a rival of XRP.
MoneygGram, one of the world’s largest money transfer companies, has reached an agreement with the Stellar Development Foundation for the Stellar Blockchain, which facilitates cross-border transactions. With this deal, MoneyGram aims to provide cash financing and payments in multiple currencies through USD Coin (USDC), the second largest stablecoin with a market cap of $32.5 billion after Tether (USDT).
6% Candle With The News!
XLM, which rose above $ 0.325 with an increase of around 7% during the day yesterday, accelerated the rise by lighting a 6% green candle with the news at night.
Closing the day with a net gain of 12%, XLM experienced a 5% pullback after pinning to $0.3702. After this retracement, the fibonacci correction applied on the chart appears to have formed two ascending trends, green and white, with the price starting to rise from the support area of $0.345-$0.347.
While these post-bullish movements are thought to form a bullish pennant formation, it is expected to rise again, targeting $0.41 as XLM breaks the red resistance. Investors who want to evaluate XLM in the short term can buy near $0.356 or close above the red trend. XLM, where closes below $ 0.345 can be preferred as the stop point, finds buyers at $ 0.356 as of the broadcast time.
* The above does not constitute investment advice, please take your own investment decisions yourself.