Stellar’s XLM token has fallen 3.58% to $0.39, breaching the critical $0.40 support level driven by heavy institutional selling. This decline was marked by a surge in trading volumes that exceeded the average by more than 22 million tokens. Although there has been short-term weakness, Stellar highlighted significant corporate partnerships at the Meridian conference, which featured initiatives from PayPal, Centrifuge, and Mercado Bitcoin, showcasing long-term growth prospects for the network. Analysts suggest that a bearish trend may persist, with resistance forming around the $0.40 mark. Despite this, institutional interest remains strong, with attempts at price stabilization seen through modest gains near $0.39 during the final trading hour.

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