Stellar’s Integration with Rain Marks Progress Toward Mainstream Adoption Despite XLM Price Drop
Stellar’s native token, XLM, dropped sharply alongside the broader crypto market over the past 24 hours, with significant trading volumes hitting at the day’s turning point. The decline came despite Rain — a global card issuing platform powered by stablecoins — announcing Thursday its new support for Stellar, alongside integrations with Solana and Tron.
XLM fell 7% within a day, sliding from $0.288 to $0.271 amid exceptionally heavy selling pressure. The token broke below a key trendline that had supported its recovery since April, reflecting a price pattern reminiscent of payments-focused cryptocurrency XRP.
However, amidst the bearish price action, Stellar’s partnership with Rain offers a rare positive in an otherwise subdued market environment. This integration represents an important milestone toward broader adoption, enabling users to spend stablecoins on high-throughput networks like Stellar for everyday transactions.
Technical Analysis:
- XLM-USD declined 7% over 24 hours, dropping from $0.288 to $0.271.
- Midnight (00:00) saw heavy selling volume of 76.9 million units, creating strong resistance near $0.280.
- Support emerged between $0.270 and $0.271, backed by substantial buying volume of 74.7 million during the 01:00 hour.
- The $0.270–$0.271 zone acted as a critical support level, tested multiple times with high volume.
- A brief recovery began at 09:43, forming an ascending channel before renewed selling pressure returned.
- The final trading hour was volatile, with prices dipping to $0.270, rebounding slightly to $0.273, then settling back at $0.271 on high volume of 2.24 million.
