Stellar (XLM) Climbs Back Above $0.39 on Institutional Buying and Strong Market Support
Stellar’s XLM token staged a solid recovery over the past 24 hours, climbing back above $0.39 after briefly dipping to $0.38. The rebound highlights renewed institutional interest and growing confidence in the asset’s long-term potential.
XLM’s intraday range during this period was roughly 3%, reflecting heightened volatility. After touching $0.38 earlier in trading, the token quickly regained momentum, closing near session highs. This price action underscores strong buying support at lower levels and signals a possible continuation of the upward trend.
Institutional demand appears to be a key driver behind the rally. Open interest on XLM has surpassed $300 million, indicating increased participation from professional traders and crypto funds. As an ISO 20022-compliant cryptocurrency, XLM is strategically positioned for integration with upcoming Fedwire and SWIFT upgrades, reinforcing its appeal to large investors.
Accumulation around $0.38 suggests that major buyers are actively entering the market during pullbacks. Trading volumes confirm that institutional players are driving the recovery, while consolidation near $0.40 points to growing market confidence in XLM’s recovery trajectory.
Technical Overview:
- Early trading hours saw a surge in volume to 52.49 million tokens, well above the 24-hour average of 27.43 million, establishing strong support at $0.38.
- Repeated tests of the $0.38 support level held firm, signaling robust market demand.
- High-volume spikes validated accumulation by institutional participants.
- XLM closed near $0.39, indicating a strong bullish reversal and momentum for potential further gains.
