Peter Brandt Bets Big on Stellar (XLM) Despite Downside Risk

Veteran commodity trader Peter Brandt has named Stellar (XLM) as one of his long-shot crypto picks for the next few years. In a recent social media post, he wrote: 'If you want to bet on a long shot (next few years), $XLM is a good pick.'

XLM is currently trading at around $0.2233, up 6.9% over the past 24 hours. This rally has been boosted by some recent developments within the Stellar ecosystem, such as BVNK's integration of XLM into its payments platform and the addition of USDT0 stablecoin to the network.

The monthly XLMUSDT chart shows a huge descending trendline connecting major historical peaks and extending through the 2021 market cycle. Brandt draws an upward-sloping support line underneath XLM's long-term price action, depicting an enormous contracting structure that has developed over several years.