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Following
XLM Stellar native token XLM prices stick to key support. The current trading price of XLM, a native token for institutional verifiers joining the network
Stellar network, is approximately US$0.1808, down 3.62% in the past 24 hours. Against the backdrop of expanding institutional participation, the token is holding a key support level.
The price trend is still in range fluctuations
Despite the recent price decline, buyer forces have always been actively defending in the main support areas. The XLM has fallen below the middle track of the Bollinger Band ($0.1890) after failing to regain the resistance level of $0.1987. The Bollinger Band (approximately $0.1754) continues to serve as a safety net, keeping XLM within the established trading channel.
Trading volumes have gradually shrunk since a strong rebound at the end of May, indicating that short-term momentum is weakening. The narrow Bollinger Band on the daily chart indicates reduced volatility, which may mean that the market is consolidating for the next major direction choice.
Key price list
Current price: US$0.1808
Recent resistance: US$0.1890
Next resistance: US$0.1987
Key support: $0.1754
Institutional verifiers join the Stellar Network
The Stellar Development Foundation announced that MoneyGram, Figue and Range.org have become primary verifiers for the network. The Foundation is a non-profit organization dedicated to the development and expansion of Stellar's blockchain, with a focus on global payments and financial inclusion.
These new verifiers, including global payments company MoneyGram and other industry partners, will contribute to the security and decentralization process of the network. The foundation also plans to discuss the institution's role as active participants in the network.
By integrating institutions in the payment and financial infrastructure sectors, Stellar aims to enhance its credibility and demonstrate its commitment to promoting the real-world implementation of blockchain. Although the news did not trigger sharp price fluctuations, some market participants believe it could consolidate Stellar's long-term growth prospects.
(Note: Verifier refers to the participant in the blockchain network responsible for verifying transactions and maintaining network integrity. Primary verifiers are usually the most trusted nodes and play an important role in consensus mechanisms and network operations.)
Network fundamentals remain solid
Despite recent price declines, on-chain data shows that active user engagement on the Stellar Network remains high. DefiLlama's data shows that user address activity is still near recent highs, suggesting that the network continues to attract user participation even during the price correction.
The volume of open interest in XLM derivatives tracked by CoinGlass has stabilized after falling back from its peak at the end of May. This suggests that derivatives traders are still mostly in the market waiting for a new catalyst rather than choosing to leave.
The first key resistance level for XLM is $0.1890, followed by $0.1987; and buyers must hold on to the support level of $0.1754 to avoid further downward pressure.
Analysts pointed out that if the above two resistance levels can be continuously exceeded, it may stimulate new buying momentum. On the contrary, if the support level of US$0.1754 falls below, it may lead to intensified selling and further weakening of the market.
Overall, continued on-chain activity, stabilized derivatives positions, and the addition of institutional validators all indicate that Stellar is maintaining a solid foundation. Many market participants appear to be waiting for a decisive signal before taking the next step.
