Stellar’s XLM navigated a volatile 24-hour trading session from Sept. 11 to Sept. 12, oscillating between $0.384 and $0.400 before closing near $0.393. The token saw early strength, advancing to session highs around $0.400, but selling pressure in the final hours pushed prices back toward support levels at $0.392. Market analysts note this late-session distribution activity underscores the corrective movement that has weighed on XLM despite its otherwise resilient performance.
The pullback coincided with rising competition in the payments sector. New entrant Remittix has launched with a 15% USDT referral incentive and secured $25.2 million in funding, sharpening challenges to incumbents like Ripple’s XRP and Stellar’s XLM. The aggressive go-to-market strategy highlights intensifying rivalry in the cross-border payments arena, a sector long dominated by these two tokens.
Author: CD Analytics
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