Stellar’s XLM navigated a volatile 24-hour trading session from Sept. 11 until Sept. 12, oscillating between $ 0.384 and $ 0.400 before closing near $ 0.393. The token saw early strength, advancing session highs around $ 0.400, but the sale of pressure in the final hours pushed prices back to support levels at $ 0.392. Market analysts note the activity of distributing the late session that emphasizes the movement of the correction that weighs on XLM despite otherwise elastic performance.
The pullback coincides with increasing competition in the payment sector. The new entrant Remittix launched a 15% USDT referral incentive and gained $ 25.2 million in funding, sharpen challenges to incumbents such as Ripple and Stellar’s XLM XRP. The aggressive go-to-market approach features a growing rival in the cross-border payment arena, a sector that has long been dominated by these two tokens.
At the same time, some technical strategies see long -term reversal for XLM. Elliott Wave projections suggest that the token could cut a 400% rally to $ 1.96, one step to put the stellar market capitalization of the $ 60- $ 71 billion range. That perspective depends on the broader trends in adoption and the stability of the Stellar ecosystem as the competition increases.
Adding to the intrigue to the market, a digital asset researcher was proposed by Ripple and Stellar could cooperate with a unified global financial infrastructure using zero-knowledgeable cryptographic protocols. While not confirmed, such a move represents a significant step in the alignment of blockchain networks to enhance security, privacy and interoperability throughout global finances.
Technical scale assessment
- XLM has established a comprehensive trade range of $ 0.02 representing 4% volatility covering $ 0.38 to $ 0.40.
- The sustainable bullish momentum was maintained throughout the opening of 17 hours with a 3% advancement supported by increasing volume participation.
- The session of the $ 0.40 session was achieved at midnight on September 12 before the technical resistance was found.
- The Foundation Foundation was established around a $ 0.39 threshold containing the pullback during seven hours closing.
- The last 60 minutes showed a bearish pressure with a decline from $ 0.39 to $ 0.39 confirming the wider course of correction.
- Intraday summit of $ 0.39 at 11:24 before the return to the $ 0.39 resistance threshold.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
