Stellar’s native token, After falling to $0.38 early on October 8, the asset quickly recovered and regained ground above $0.39 by the end of the period, suggesting solid buying activity at lower levels.
During the most recent trading hour, XLM again demonstrated pronounced short-term swings, briefly falling to $0.38 before recovering sharply to reclaim the $0.39 mark. This intraday reversal underscores a strong recovery pattern, suggesting growing market momentum and a possible continuation of the upward trajectory.
Institutional activity appears to be bolstering Stellar’s resilience. Open interest has surpassed $300 million, reflecting growing participation from professional traders and funds. As an ISO 20022-compliant cryptocurrency, XLM is considered strategically positioned for the upcoming Fedwire and SWIFT upgrades in 2025, a narrative that drives institutional confidence in the network’s role in global payments.
The sustained accumulation around $0.38 suggests that large buyers are taking advantage of temporary pullbacks, and rising volumes confirm renewed interest in Stellar’s cross-border payments infrastructure. The consolidation near $0.40 indicates growing market conviction that XLM’s rally could extend further as payments-focused digital assets gain traction.
Technical indicators signal bullish momentum
- Volume analysis reveals increased selling pressure during the early morning hours of October 8, with trading activity culminating in 52.49 million at 06:00, significantly above the 24-hour average of 27.43 million.
- Solid volume support was established around the $0.38-$0.38 zone during the decline phase.
- Volume increases during decline phases, particularly the 1.54 million increase at 13:28 and subsequent periods of high volume, confirmed institutional accumulation at reduced levels.
- The quintessential support and resistance dynamic emerged with substantial buying interest around the $0.38-$0.38 zone.
- The sustained bullish momentum concluded as XLM reached new session highs near $0.39.
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