XLM dropped 2.72% to $0.358 as Stellar's Protocol 23 upgrade failed to reverse bearish momentum. Liquidations and macro headwinds are pressuring the token toward critical support at $0.30-$0.32.
Stellar (XLM) declined 2.72% over 24 hours from $0.368 to $0.358, with sellers consistently rejecting attempts to break above $0.362 resistance. Despite the rollout of Protocol 23 on September 3, the technical upgrade failed to provide bullish momentum amid macro uncertainty and institutional risk-off positioning. A $192,000 liquidation cascade on September 2 has accelerated the retreat. The token now faces a critical test at the $0.32-$0.30 support zone, which will likely determine near-term trajectory. Technical indicators signal continued weakness with high volatility and declining momentum.