Key Highlights

• Major South Korean exchange Upbit has suspended trading in Stellar’s XLM token due to the ongoing preparation for the Protocol 23 upgrade.
• The scheduled upgrade, which commenced on September 3, aims to improve transaction speeds and scalability, leading exchanges to take precautionary trading measures.
• XLM’s price has been fluctuating between $0.36 and $0.37 while attempting to break through resistance; however, it has faced challenges in maintaining those gains.

Market Overview

XLM experienced a volatile session on September 3, initially touching $0.37 before stabilizing near $0.36.

Price Behavior:

• Range: XLM fluctuating between $0.36 to $0.37.
• Resistance Level: Key resistance at $0.37 that has not been surpassed in multiple trials.
• Support: Sturdy support anticipated between $0.30 and $0.32 post-upgrade.

Investors are keenly observing how Stellar’s upgrade impacts the price dynamics moving forward. Institutional interest in digital assets is anticipated to rise amid the upgrade, which has implications for the broader market.

Stellar Upgrade Image: XLM trading visualization.