Stellar’s XLM Faces Volatility Amid Payment Sector Competition

Stellar's XLM experienced volatility from Sept. 11 to Sept. 12, trading between $0.384 and $0.400, closing near $0.393. Despite early gains, selling pressure returned prices to support levels.

Key Points:

XLM traded in a range of $0.02, showing 4% volatility.
Early session saw a 3% rise due to increased volume.
Peaked at $0.40 before encountering resistance.
Support was found around the $0.39 level.
A bearish trend was confirmed with a decline back to $0.39.

Market developments include Remittix entering the payments sector with a $25.2 million funding round, increasing competition for Stellar's XLM and Ripple's XRP. Analysts see potential long-term growth for XLM, projecting a 400% rally to $1.96 depending on adoption trends.

Unverified reports suggest possible collaboration between Ripple and Stellar on global financial infrastructure using Zero-Knowledge cryptographic protocols, which could enhance security and interoperability.

XLM/USD (TradingView)