Stellar's XLM token faced significant selling pressure, dropping 5% from $0.398 to $0.380 in just 24 hours, primarily driven by institutional liquidation. The trading volume surged 115% with 95.27 million tokens exchanged at the $0.380 support level, confirming its vulnerability amidst the sell-off. After reaching this low, XLM rebounded slightly to close at $0.389. This volatility was evident as prices fluctuated between $0.387 and $0.392 prior to the downturn. The session's peak selling noted that $0.393 had become a resistance point, attributed to 46.16 million tokens traded. Broad market sentiment is influenced by ongoing ETF developments, with expectations that positive momentum could return if XLM approaches the $0.50 mark. Overall, the dynamics of institutional activity and significant trading volumes continue to shape the cryptocurrency's near-term outlook.

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