XLM Surges 3.7% as Final-Hour Breakout Drives Fresh Momentum
Stellar's native token XLM experienced a 3.7% rally, rising from $0.36 to $0.37 over the past 24 hours due to heavy trading activity. The surge included two breakout phases:
- An initial breakout on September 28 at 22:00 carried prices to $0.37 with volume nearly double the daily average.
- A secondary push on September 29 at 13:00 reinforced bullish momentum, both supported by volumes above 31 million units.
The final hour of trading on September 29 saw XLM gain 1.64%, breaking through resistance at $0.366, reaching intraday highs near $0.372 before consolidating slightly lower.
Contributing Factors:
- Stellar's expansion in the Asia-Pacific region, bolstering cross-border payment partnerships with Southeast Asian banks.
- Development of Soroban, a smart-contract platform, enhancing network capabilities.
- Growing adoption of blockchain-based payment systems for international transfers.
- Interest from both retail traders and institutions highlighted by high-volume breakouts.
XLM remains below the $1.00 mark, attracting retail investors seeking accessible entry points into blockchain ecosystems.