Stellar Price Dives 8% Ahead of Mainnet Vote

The price of Stellar (XLM) fell by nearly 8% as traders reduced their exposure ahead of the mainnet vote on Protocol 28. This network upgrade will introduce smart contract features and update validator rules, causing some uncertainty in the market.

Despite this short-term pressure, the medium- and long-term trend structure for XLM remains resilient. The asset's price has slipped below its 20-day moving average but remains above both its 50-day and 200-day averages.

The current price of XLM is $0.1758, with a next-five-session range of $0.1637 to $0.1897 and a 70% probability of decline. Institutional activity, including US Bank stablecoin pilots and MoneyGram's Visa stablecoin offering, has been expanding in the Stellar network.