Stellar (XLM) joined the broader crypto market sell-off, plunging 22.9% in 24 hours to $0.2924, according to CoinMarketCap data.
During the steep decline, XLM briefly crashed to around $0.20 before rebounding sharply as buying pressure surged.
The token’s market cap fell to $9.36 billion, while 24-hour trading volume spiked 157% to $630 million, showing intense activity from both panic sellers and opportunistic buyers. The rapid dip below $0.25 likely triggered large-scale liquidations and stop-loss cascades, a pattern seen across multiple major altcoins on Friday.
XLM’s swift rebound back toward the $0.29–$0.30 range indicates strong demand at lower levels and algorithmic trading stabilization after the crash. However, analysts caution that volatility remains high, with potential retests of $0.25 if Bitcoin fails to recover above key psychological support near $110,000.
For now, Stellar is attempting to regain footing, but sentiment remains fragile as investors await clearer signals of market stabilization following what has been one of the sharpest single-day corrections of the year.
