XLM climbed back above $0.39 after a brief sell-off, with rising open interest signaling renewed institutional confidence.

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Stellar’s native token XLM experienced heightened volatility over the past 24 hours, fluctuating between $0.38 and $0.39 — a 3% range — before closing near session highs. After dipping to $0.38 early on Oct. 8, the asset mounted a swift recovery, regaining ground above $0.39 by the end of the period, suggesting robust buying activity at lower levels.

During the most recent hour of trading, XLM again demonstrated pronounced short-term swings, plunging briefly to $0.38 before rebounding sharply to reclaim the $0.39 mark. This intraday reversal underscores a strong recovery pattern, hinting at increasing market momentum and potential continuation of the upward trajectory.

Institutional activity appears to be reinforcing Stellar’s resilience. Open interest has climbed beyond $300 million, reflecting rising participation from professional traders and funds. As an ISO 20022-compliant cryptocurrency, XLM is seen as strategically positioned for upcoming Fedwire and SWIFT upgrades in 2025 — a narrative driving institutional confidence in the network’s role in global payments.

Sustained accumulation around $0.38 suggests that large buyers are taking advantage of temporary pullbacks, with surging volumes confirming renewed interest in Stellar’s cross-border payment infrastructure. Consolidation near $0.40 signals the market’s growing conviction that XLM’s recovery could extend further as payment-focused digital assets gain mainstream traction.

Technical Indicators Signal Bullish Momentum

• Volume analysis reveals heightened selling pressure during the early morning hours of 8 October, with trading activity culminating at 52.49 million during the 06:00 hour, considerably above the 24-hour average of 27.43 million.
• Robust volume support established around the $0.38-$0.38 zone during the decline phase.
• Volume surges during decline phases, particularly the 1.54 million surge at 13:28 and subsequent high-volume periods, confirmed institutional accumulation at reduced levels.
• Quintessential support and resistance dynamics emerged with substantial purchasing interest around the $0.38-$0.38 zone.
• Sustained upward momentum concluded with XLM achieving new session peaks proximate to $0.39.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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