Stellar’s XLM tumbled 5% on Tuesday, falling from $0.3284 to $0.3119 after breaking below a critical $0.32 support level that had held for weeks. The drop marked one of XLM’s sharpest declines in recent sessions, underscoring renewed bearish momentum in a market driven largely by technical factors rather than fundamentals.

The selloff accelerated around Monday’s 15:00 session as volume spiked to 53.9 million—roughly 74% above the 24-hour average of 21.6 million—signaling heightened selling pressure. The inability to reclaim $0.32 despite multiple rebound attempts confirmed a decisive technical breakdown, with the token now struggling to stabilize near $0.3116.

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