- Three massive XLM whale transactions totaling $245M occurred within five minutes, including a 90M XLM transfer to dead wallets — raising eyebrows across the market.
- The purpose of the transfers remains unclear, sparking speculation about potential sell-offs, custodial moves, or strategic burns, all of which could impact price sentiment.
- XLM’s price sits near $0.235, down slightly, and while technicals remain shaky, some traders are eyeing bullish futures signals and long-term fundamentals for stability.
Stellar (XLM), often dubbed the quiet rival to XRP, might be gearing up for a breakout — and the open interest numbers are starting to tell the story. In the past 24 hours alone, open interest jumped 2.96%, with a decent 2.23% push in just the last four hours. Something’s definitely brewing.
Investors Are Leaning In — Confidence Rising
According to data from CoinGlass, a total of 483.42 million XLM — roughly $117.68 million in value — is now tied up in futures open interest. For anyone new to the game, that figure reflects all outstanding XLM futures contractsthat haven’t been settled yet.
And what does a rise in open interest usually mean? Simple: traders are locking in positions because they think a big move’s coming. In this case, that move might just be up.
Price Wobbles, But Momentum’s Still Building
At the moment, XLM is trading around $0.2429, which is a slight 0.67% dip in the last day. Not the most thrilling action on the chart — but zoom out a bit, and it tells a different story. Over the past week, Stellar has managed a 6% climb, which has been enough to spark a fresh wave of optimism.
On the technical side, the four-hour chart is looking tight. XLM’s creeping up near the resistance line of an ascending triangle, and that pattern — more often than not — resolves in a breakout.
The key level to watch? $0.2460. If XLM breaks above that and holds, we could be staring down a push to higher ground.
From Sell-Off to Set-Up
Not too long ago, XLM had traders sweating. After a heavy dip, prices fell to $0.2368, and sentiment got shaky. It felt like maybe that was it — maybe the coin was heading into full correction mode.
But it didn’t collapse. In fact, buyers stepped in, and the coin started rebounding. That alone gave bulls a reason to re-enter — and now, with the market showing signs of tightening up, some are betting we’re on the verge of something bigger.
Analyst Eyes 15% Surge If Pattern Plays Out
Ali Martinez, one of the more well-followed names in the space, chimed in recently with a note about Stellar’s technicals. He pointed to the triangle pattern forming on the chart and mentioned that if the setup completes, a 15% price swing could be in play.
That kind of move wouldn’t just be nice — it’d be a statement. Especially considering how XLM’s been dealing with shaky support and general market indecision in recent weeks.
Final Thoughts
The rise in open interest, the rebound from sell-off lows, the bullish triangle forming on the charts — it’s all adding up. XLM still needs to clear resistance at $0.2460, but the pieces are falling into place. Investors are watching. Futures traders are already positioning. The question now? Can Stellar deliver the breakout or will this just be another fakeout in disguise?
Guess we’ll find out soon.
