Stellar's Protocol 23 upgrade launched on Sept. 3, prompting South Korea's Upbit exchange to suspend XLM trading. XLM consolidated between $0.36-$0.37 with resistance holding firm as traders await post-upgrade price direction.
Stellar initiated its Protocol 23 network upgrade on September 3, designed to enhance scalability and accelerate transaction speeds. South Korea's largest exchange Upbit suspended XLM trading as a precautionary stability measure during the transition. XLM price consolidated in a narrow $0.36-$0.37 band with multiple failed attempts to break above $0.37 resistance, suggesting institutional accumulation. Traders are monitoring critical levels: $0.45 resistance (untested since June) and $0.30-$0.32 support zone. The upgrade outcome may determine whether XLM breaks through its price ceiling or retreats to rebuild support.