XLM traded lower during Tuesday’s session, falling from $0.3137 to $0.3123 over 24 hours ending October 23 at 2:00 p.m. UTC. The token moved within a narrow range of $0.0132 (4.2%), reflecting volatile but limited behavior.
A strong volume spike of 62.1 million – 180% above average – at 9:00 p.m. on October 22 triggered a sell-off from $0.3081 to critical support at $0.3027, establishing the lower limit of the current trading range.
Despite a brief recovery, Stellar faced persistent technical resistance. Prices rebounded towards $0.3160, consolidating above $0.3120 before a double top trend formed at $0.3147, signaling exhaustion.
The last hour saw renewed selling pressure, with a break below $0.3131 confirming range-bound momentum and near-term weakness.
Crucially, market sentiment was influenced by reports of collaboration between Ripple and Stellar, emphasizing humanitarian and payment use cases. Analysts including ProfRippl have highlighted their shared involvement with the International Rescue Committee: Ripple focusing on donation services and Stellar on distributing money through its Aid Assist program.
XLM Technical Presentation
- Support and resistance
- Strong support has $0.3027confirmed by high volume testing.
- Resistance has $0.3147 (double top formation) with a secondary barrier has $0.3160.
- Volume analysis
- 62.1 million peak volume (≈180% above SMA) established key support near $0.3027.
- 619.7K a marked increase during the last hour of trading breakdown below $0.3131.
- Chart templates
- Double Top Reversal ended at $0.3147.
- The price remains limited to one range between $0.3027 (support) And $0.3160 (resistance).
- Targets and risk/reward
- Break below $0.3027 could extend losses towards the lower limits of the range.
- Recovery of $0.3147 it was necessary to test $0.3160 resistance and open upside potential.
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