Stellar’s XLM token experienced sharp intraday swings over the past 24 hours, trading between $0.34 and $0.36, a 5% range. The session began stable but a late-evening selloff pushed the price from $0.36 down to $0.34.
Overnight trading volumes surged past 57 million tokens as support at $0.34–$0.35 was tested. Early the following morning, XLM rebounded to $0.36 on 70 million tokens, signaling potential institutional accumulation.
Despite the recovery, price stalled at $0.36, forming a range-bound pattern. Bearish momentum returned in the final hour of September 1, with XLM slipping 1%. Intraday activity peaked between 13:45 and 13:46, when 1.28 million tokens changed hands, and recovery attempts faded before the close.
Fundamental developments added pressure. South Korea’s Bithumb will suspend XLM deposits on September 3 for network upgrades, marking a critical transition period. Meanwhile, Ripple’s successful pilot tests with banks have reinforced confidence in blockchain-based payment solutions, increasing competitive pressure on Stellar.
Market Highlights
- Trading range of $0.34–$0.36 reflects 5% intraday volatility.
- Midnight selloff produced 57 million tokens, indicating heavy institutional selling.
- Morning rebound to $0.36 on 70 million tokens suggests accumulation.
- Resistance confirmed at $0.36, with support at $0.34–$0.35.
- Final hour recovery attempts failed as bearish momentum strengthened.
