- XLM remains bullish above $0.235, signaling a possible short-term breakout.
- PayPal’s PYUSD on Stellar expands global stablecoin financial access.
Stellar (XLM) is holding steady above a critical support level, drawing attention from market analysts and traders. Stellar (XLM) is currently trading around $0.2485 after facing resistance near the $0.2539 mark.
Technical analyst CryptoTony remains long on XLM as long as the $0.235 support level holds. This level, which previously acted as resistance, has now become a reliable support zone.
The weekly chart shows that XLM broke out earlier in 2024 following a prolonged period of sideways movement between mid-2022 and late 2023. After the breakout, the asset surged but later corrected to retest the same support.
Short-Term Technicals Show Ascending Channel Pattern
XLM is forming an ascending channel, with price action pulling back after a recent rally. Despite the dip, it remains above the 50-period Simple Moving Average (SMA) at $0.2415, suggesting continued bullish sentiment in the short term.
Support around $0.2465 is acting as a key pivot. The Relative Strength Index (RSI) has eased from overbought levels and is now at 68.36.
If the price stays above the trendline and the $0.2465 support zone, analysts expect a retest of $0.2539. A break above this could push XLM toward $0.2592 in the near term.
PayPal to Expand PYUSD to Stellar Network
In a press release dated June 11, 2025, PayPal confirmed plans to expand its stablecoin, PayPal USD (PYUSD), to the Stellar blockchain. The move is pending regulatory approval from the New York State Department of Financial Services (NYDFS). Stellar’s infrastructure is known for enabling fast, low-cost cross-border payments and financial access in underserved markets.
The integration is part of PayPal’s PayFi initiative, aiming to provide global users with real-time working capital and remittance tools.
According to PayPal Vice President May Zabaneh, stablecoins represent crypto’s practical use case. Stellar CEO Denelle Dixon stated that PYUSD on Stellar will provide financial access to individuals and businesses across more than 170 countries.
The expansion enhances Stellar’s real-world utility and boosts XLM’s visibility within the broader digital payments ecosystem.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
