Stellar (XLM) price has seen some drops in the past 4 days, with a 7% dip in price over this period. This could be about to get better, as some rising metrics show that the future may be brighter than the charts currently suggest.
There’s been a noticeable explosion in network activity. According to a post by Scopuly, more than 265 million transactions were processed on the Stellar network in just 24 hours. That’s a massive spike of over 300,000 above the usual daily average.
This kind of on-chain growth doesn’t happen by accident. It could be pointing to deeper adoption happening behind the scenes. Some believe this could be due to new enterprise partnerships, while others think DeFi projects may be quietly gaining ground on Stellar.
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XLM Price Is Weak But It Might Just Be a Temporary Pullback
Technically, the short-term picture for XLM price isn’t too encouraging. It has dropped below the 50 and 100 exponential moving averages, which are now sitting as resistance around $0.28 and $0.27. The relative strength index (RSI) is at 39.83, showing that momentum is weak right now.
However, there’s no panic selling. Trading volume has stayed steady, and many analysts see this not as a breakdown but more of a consolidation phase. If XLM can hold above the 200 EMA, which is close to $0.24, there’s a chance the market could rebound from here.
The Divergence Between Price and Usage May Be a Clue
It’s unusual to see such a big gap between how much a network is being used and how its token is performing. In the past, this kind of divergence has often been a sign that something is brewing. When the sentiment shifts or buyers return, price tends to catch up with network fundamentals.
According to Scopuly, if the XLM price can recover and hold above $0.28, that would be a strong signal. In that case, a move up to $0.30 or even $0.32 could happen in the coming weeks. On the flip side, if $0.24 doesn’t hold as support, there’s a real risk that the price could revisit levels last seen in early Q2.
Read Also: Is Chainlink a Scam? This Chart Says So
Despite its recent price weakness, Stellar is showing strong signs of life beneath the surface. The sharp rise in transactions suggests real growth, even if it hasn’t yet reflected in the XLM price. While things look uncertain now, this could very well be the calm before the next big move.
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