Stellar Dips to $0.3123, Down 0.4%, as New Partnership Details Emerge

Stellar Dips to $0.3123 Following Double-Top Reversal

Stellar (XLM) edged lower on Tuesday, falling from $0.3137 to $0.3123 during the 24-hour session ending Oct. 23 at 14:00 UTC. The token traded within a $0.0132 range (4.2%), reflecting volatile but contained, range-bound activity.

A sharp 62.1 million volume spike—about 180% above the 24-hour average—hit at 21:00 UTC on Oct. 22, driving a selloff from $0.3081 to key support at $0.3027, which now defines the lower boundary of XLM’s current trading range.

While prices briefly recovered toward $0.3160, the formation of a double-top at $0.3147 signaled exhaustion. Renewed selling pressure in the final trading hour pushed XLM below $0.3131, confirming short-term weakness and range-bound momentum.

Fundamentally, sentiment was influenced by reports of collaboration between Ripple and Stellar on humanitarian and payment-focused initiatives. Analysts, including ProfRippl, noted their shared work with the International Rescue Committee, with Ripple concentrating on donation services and Stellar handling cash distribution via its Aid Assist program.

XLM Technical Snapshot

Support & Resistance

• Primary support: $0.3027, reinforced by high-volume testing
• Resistance: $0.3147 (double-top), with secondary resistance at $0.3160

Volume Analysis

• 62.1M spike (~180% above SMA) established support near $0.3027
• Final-hour surge: 619.7K tokens marked the breakdown below $0.3131

Chart Patterns

• Double-top reversal completed at $0.3147
• Price remains confined between $0.3027 and $0.3160

Targets & Risk/Reward

• Falling below $0.3027 could extend losses to the lower range limit
• Recovering above $0.3147 is required to test $0.3160 and open potential upside

About The Author

ctleditor

See author's posts