The Stellar price (XLM/USD) has made little progress on Friday, despite having a strong morning session.
Stellar had a rough trading Session on Thursday, with its price experiencing significant price fluctuations. The digital coin experienced a big downswing in the morning session, falling to an intraday low of $0.249. It attempted to recover its losses in the afternoon, but its performance was hindered by frequent price fluctuations. Eventually, the coin finished the session at $0.256, slightly below its opening level for the day.
Stellar has seen more rocky trading in today’s session, even though it enjoyed a much more positive price action in the morning. During a big portion of the session the coin was the only digital currency in the top 10 that was posting gains over the 24-hour period, as its price had managed to reclaim the $0.26 mark. The situation changed in the afternoon, with Stellar experiencing another major downturn. At the time of writing, the Stellar price was hovering around $0.255, according to data from digital currency tracker Coinmarketcap.
Last week, Stellar was listed as one of a handful of cryptocurrencies that received recommendations in the latest update of Weiss Ratings’s digital currency ranking. According to the ranking, Stellar, Ripple (XRP), Cardano (ADA) and EOS are currently the only digital coins that deserve a “buy” rating.
“XRP and Stellar are appealing to businesses and other organizations, mainly for speedy financial transfers,” the update reads. “In contrast, EOS and Cardano are designed more as virtual communities, with each participant empowered to influence the future direction of the project, spanning a broad range of applications.”
Weiss Ratings tracks data for over 3,000 tokens and issue grades on 111 of them. The company considers a “buy” to be equivalent to a “B-“ or better grade. No cryptocurrency has been given an “A” in the report.
In today’s trading, the Stellar price stood at $0.257, as of 15:19 GMT. The digital coin has gained 0.2% in the past 24 hours.