XLM, the native cryptocurrency of the Stellar blockchain, experienced a remarkable surge in recent weeks, skyrocketing by an impressive 104% and reaching $0.196 on July 13. However, as profit-taking occurred, the price retraced.

Currently, the crypto token is undergoing another fresh rally, driven by Ripple's recent partial legal victory against the US Securities and Exchange Commission (SEC). A US judge ruled that XLM is not a security, providing a significant boost to Stellar's value and fostering a new wave of optimism for the cryptocurrency.

Notably, as of July 19, XLM is the best-performing crypto asset on daily charts, surging by nearly 10% during the mentioned period at the time of publication. Several other major cryptocurrencies, including Maker (MKR), XRP (XRP), BitDAO (BIT), and Synthetix (SNX), also rank in the top 5 in terms of 24-hour gains.

XLM's price analysis reveals that Stellar is currently trading at $0.14, showing a 9.12% increase for the day. Additionally, XLM stands as the second best-performing asset over the past week, with a surge of more than 40%, second only to XRP's impressive 65% gain. Furthermore, on a monthly basis, XLM has seen a growth of over 70%, adding more than $1.55 billion in market cap during this period.

The recent significant price rise of XLM can be largely attributed to Ripple Labs' landmark win against the SEC, as the ruling confirmed that the blockchain firm did not violate securities regulations by selling its XRP token on public exchanges. This legal victory boosted XRP's value and also had a positive impact on other altcoins, including XLM and Bitcoin (BTC). Prior to Ripple's legal triumph, another contributing factor to XLM's bullish momentum was Coinbase's integration with Stellar, with the crypto exchange now fully supporting USDC deposits and withdrawals through the Stellar network.

Moreover, there have been speculations that Stellar might play a role in the blockchain component of the FedNow Payment System, an instant payments service developed by the US central bank aiming to integrate traditional banking with decentralized finance (DeFi).

It's worth noting that Stellar was founded by Jed McCaleb, an American programmer and entrepreneur who also co-founded Ripple.

To determine whether Stellar is likely to sustain its momentum, Finbold retrieved price estimates from the crypto community at CoinMarketCap to evaluate their predictions for XLM's price at the end of July. Surprisingly, despite the community's historical accuracy of 91% over the past 6 months, they offered a bearish price estimate of $0.09724 on July 31, implying a 35% drop from the current price.