XLM Sinks 5% Amid Turbulent Trading Before Rebounding Strongly

Stellar’s XLM token experienced significant volatility over the past 24 hours, trading in a 5% range between $0.34 and $0.36. The session started steadily before a late-evening selloff pushed the price from $0.36 down to $0.34.

Trading volumes spiked above 57 million units at midnight as the market tested support around $0.34–$0.35. Buyers returned early the next morning, driving XLM back to $0.36 on swelling volumes of 70 million units, signaling potential institutional accumulation.

Despite the morning rebound, XLM stalled at $0.36, forming a range-bound pattern that often precedes directional breakouts. In the final hour of trading on September 1, bearish momentum returned, with the token slipping 1% as consolidation broke down. Intraday data revealed intense selling between 13:45 and 13:46, when over 1.28 million tokens changed hands. Recovery attempts fizzled before the close, and trading activity slowed in the session’s final minute.

Fundamental factors also influenced price action. South Korea’s Bithumb will suspend XLM deposits on September 3 for network upgrades, marking a key transition period for Stellar. Additionally, Ripple’s recent success with pilot bank tests has boosted confidence in blockchain-based payment solutions, putting competitive pressure on Stellar to deliver upgrades.

Market Highlights

$0.34–$0.36 trading range reflects 5% intraday volatility.
Midnight selloff triggered 57 million token volume, signaling institutional selling.
Morning rebound to $0.36 on 70 million volume suggests accumulation.
Resistance confirmed at $0.36 with support around $0.34–$0.35.
Final hour recovery attempts failed as bearish momentum gained control.