Stellar's XLM token shot up 11.30% on Thursday, hitting $0.27. The move came without any major announcement from the Stellar Development Foundation or partners, leaving traders scanning for a catalyst.
A sharp intraday spike
The rally lifted XLM's price from roughly $0.2425 to the $0.27 level in a matter of hours. Trading volumes picked up noticeably, though the reason for the sudden demand wasn't immediately clear. Stellar, a blockchain protocol designed for cross-border payments and asset tokenization, has seen relatively quiet price action in recent months.
With no official statement or protocol upgrade tied to the jump, the focus now turns to whether the price holds above $0.27. Support at $0.25 could be tested if the rally fades. The Stellar network itself continues to process transactions without disruption, according to its public ledger data.
