XLM Falls 7% Despite Rain Integration Announcement
Stellar's native token XLM decreased by 7% in the past 24 hours, falling from 0.288 to 0.271 amid high selling volumes. This decline coincided with the announcement of support for Stellar by Rain, a global card issuing platform integrating stablecoins along with Solana and Tron.
Key Points
- XLM-USD dropped 7%, from 0.288 to 0.271.
- High selling volume of 76.9M at midnight, creating resistance at 0.280.
- Support established around 0.270-0.271 with a buying volume of 74.7M at 01:00.
- Critical support zone at 0.270-0.271 tested multiple times.
- A temporary recovery began at 09:43 but was met with renewed selling pressure.
- Final hour trading was volatile, with prices fluctuating between 0.270 and 0.273 before settling back at 0.271 on a volume of 2.24M.