Stellar’s native token, XLM, has captured the spotlight with a robust rally over the past 24 hours, climbing 3.7% from $0.36 to $0.37. This surge in value has been propelled by two distinct breakout phases that have invigorated market enthusiasm and trading activity. The events unfolded with an evening surge on September 28 at 22:00, propelling prices to $0.37 amidst trading volumes nearly double the daily average. This was followed by a secondary push at 13:00 the next day, reinforcing a bullish momentum that has market participants buzzing.
Breaking Through the Barriers
Both breakout sessions were bolstered by elevated volumes surpassing 31 million units, a clear indication of widespread market engagement. However, it was the final hour of trading on September 29 that proved particularly dramatic. XLM advanced by 1.64% between 13:10 and 14:09, with a breakout commencing at 13:42. This was marked by a sharp volume spike exceeding 1.9 million units within a single candle. This surge carried the price through a resistance level at $0.366, establishing a new uptrend channel. XLM reached intraday highs near $0.372 before settling slightly lower at $0.371, as volumes began to wane.
Strategic Moves and Regional Expansion
Stellar’s recent momentum can be partially attributed to its strategic expansion in the Asia-Pacific region. The project has been strengthening its cross-border payment partnerships with Southeast Asian banks, while also developing Soroban, its smart contract platform. This platform is designed to enhance the network’s capabilities, aligning with the growing adoption of blockchain-based payment infrastructure within traditional finance, particularly for international transfer systems.
Attracting Retail and Institutional Interest
With XLM still trading below the $1.00 mark, the token has attracted retail traders, who often see lower-priced digital assets as accessible entry points into blockchain ecosystems. This retail interest, combined with substantial institutional participation highlighted by the high-volume breakouts, underscores Stellar’s positioning as both a retail-friendly token and a serious contender in cross-border financial innovation.
Technical Indicators and Future Prospects
The technical indicators for XLM suggest continued strength, with the token climbing from $0.36 to $0.37, a $0.01 range that represents a 3.70% gain in a 24-hour session ending September 29 at 14:00. The initial breakout hit $0.37 on September 28 at 22:00 with a volume of 31.93 million units, significantly surpassing the 18.47 million daily average. The secondary surge reached $0.37 on September 29 at 13:00 with a notable 31.61 million unit volume spike.
The final 60 minutes from 13:10 to 14:09 delivered an explosive 1.64% acceleration, as the breakout launched at 13:42 with volume erupting past 1.9 million units on the 13:43 candle. The price smashed through the $0.37 resistance, establishing a fresh uptrend channel structure. A support base formed at $0.37, with the session peak touching $0.37 before consolidating near the same level as volumes declined in the closing minutes.
Broader Implications for Stellar
Stellar’s recent performance isn’t just about numbers; it’s about strategic positioning in a rapidly evolving financial landscape. As blockchain technology continues to gain traction in traditional finance, particularly for cross-border payments, Stellar’s efforts in expanding its network capabilities and partnerships put it in a favorable position. The development of Soroban, aiming to enhance smart contract functionalities, is a testament to Stellar’s commitment to innovation and adaptability.
In conclusion, XLM’s recent surge is a reflection of both market dynamics and strategic foresight. As the cryptocurrency space continues to mature, tokens like XLM that combine retail accessibility with institutional appeal will likely play a pivotal role in shaping the future of financial transactions. With continued expansion and technological advancements, Stellar is poised to remain a key player in the blockchain ecosystem.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
