Stellar’s XLM Surges on Heavy Volume Before Late-Session Pullback
Stellar’s XLM token displayed sharp swings over the past 23 hours, climbing from $0.38 to an intraday high of $0.39 before retreating later in the session. The initial rally between 08:00–09:00 UTC was accompanied by a trading volume of 70 million, more than triple its 24-hour average, sustaining elevated activity above 60 million for the following hour.
The early momentum was driven by a combination of technical buying and fundamental developments. A recent DTCC patent filing highlighted XLM as a compatible network for liquidity tokenization, while the Stellar Development Foundation confirmed upcoming launches from major payments and asset management firms. These developments coincided with a ninefold increase in Stellar’s total value locked over the past year.
However, the late-session saw gains wiped out as selling pressure intensified. Between 13:15–14:14 UTC, XLM fell from $0.39, with the sharpest drop occurring around 13:45–13:47 UTC on a volume of 3.6 million. Trading activity subsided in the final minutes, signaling potential short-term consolidation and cautious institutional participation.
Key Technical Highlights
- Resistance formed at $0.39 following the morning surge
- Consolidation near $0.39 suggests emerging support
- Late-session sell-off on rising volume points to profit-taking
- Minimal trading in the final minutes indicates institutional pause
