Stellar’s XLM Falls Below $0.40 Amid Institutional Selling Pressure
Stellar's XLM Experiences Institutional Selling Pressure
- XLM dropped 3.58% from $0.40 to $0.39 between Sept. 18 and Sept. 19.
- Trading volumes exceeded the 24-hour average of 22.33 million tokens, indicating institutional selling.
- The breach of the $0.40 support level points to market repositioning ahead of regulatory clarity.
- XLM managed a slight recovery with a 0.05% gain in the final trading hour, but resistance persists at $0.40.
- Lower highs pattern suggests ongoing bearish pressure.
Institutional Developments in Stellar’s Network
- The Stellar Development Foundation emphasized growing adoption during the Meridian conference in Rio de Janeiro.
- Centrifuge launched a $20 million tokenized real-world assets initiative on Stellar.
- Mercado Bitcoin announced a $200 million tokenization program.
- PayPal’s USD stablecoin is now live on Stellar, enhancing institutional network access.
