Volatility Hits XLM: Token Drops 5% Before Making a Rapid Comeback

Stellar’s XLM token traded in a volatile 5% range over the past 24 hours, moving between $0.34 and $0.36. The session started steadily but a late-evening selloff pushed the price down from $0.36 to $0.34.

Trading volume surged past 57 million tokens at midnight as support around $0.34–$0.35 was tested. Buyers returned early the next morning, lifting XLM briefly back to $0.36 on 70 million tokens, signaling possible institutional accumulation.

Price stalled at $0.36, forming a range-bound pattern, and bearish momentum reasserted itself in the final hour of September 1, causing XLM to slip 1%. Intraday activity peaked between 13:45 and 13:46, when over 1.28 million tokens changed hands. Recovery attempts faded toward the session close.

Fundamentally, XLM faced pressure from exchange and network developments. South Korea’s Bithumb will suspend XLM deposits on September 3 for network upgrades, while Ripple’s pilot bank tests have boosted confidence in blockchain payments, increasing competitive pressure on Stellar.

Market Highlights

• $0.34–$0.36 trading range reflects a 5% intraday swing.
• Midnight selloff produced 57 million tokens in volume, indicating strong institutional selling.
• Morning rebound to $0.36 on 70 million tokens suggests accumulation.
• Resistance confirmed at $0.36 with support near $0.34–$0.35.
• Final hour recovery attempts failed as bearish momentum accelerated.