Stellar’s native token XLM saw increased volatility over the past 24 hours, fluctuating between $0.38 and $0.39 – a 3% range – before closing near session highs. After falling to $0.38 early on October 8, the asset saw a rapid recovery, regaining ground above $0.39 by the end of the period, suggesting robust buying activity at lower levels.
During the last hour of trading, XLM again demonstrated pronounced short-term fluctuations, briefly dipping to $0.38 before rebounding sharply to regain the $0.39 mark. This intraday reversal highlights a strong recovery trend, portending growing market momentum and a potential continuation of the upward trajectory.
Institutional activity appears to strengthen Stellar’s resilience. Open interest exceeded $300 million, reflecting growing participation from professional traders and funds. As an ISO 20022 compliant cryptocurrency, XLM is considered strategically positioned for the upcoming Fedwire and SWIFT upgrades in 2025 – a narrative that builds institutional confidence in the network’s role in global payments.
Sustained accumulation around $0.38 suggests large buyers are taking advantage of temporary pullbacks, with rising volumes confirming renewed interest in Stellar’s cross-border payments infrastructure. A consolidation near $0.40 signals the market’s growing belief that XLM’s rally could expand further as payment-focused digital assets gain traction.
Technical indicators signal bullish momentum
- Volume analysis reveals increased selling pressure in the early morning hours of October 8, with trading activity peaking at 52.49 million at 6:00 a.m., considerably above the 24-hour average of 27.43 million.
- Robust volume support was established around the $0.38 to $0.38 area during the decline phase.
- Volume increases during decline phases, particularly the 1.54 million surge at 1:28 p.m. and subsequent periods of high volume, confirmed institutional accumulation at reduced levels.
- Quintessential support and resistance dynamics have emerged with substantial buying interest around the $0.38-$0.38 area.
- Sustained bullish momentum ended with XLM reaching new session highs near $0.39.
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