Stellar Plunges 3% as Protocol 23 Upgrade Fails to Spark Rally

Stellar (XLM) continued to slide lower over the past 24 hours, with price action underscoring a clear bearish bias. Between Sept. 3 at 15:00 and Sept. 4 at 14:00, XLM shed 2.72%, falling from $0.368 to $0.358. The move came within a tight $0.012 range, reflecting 3.26% intraday volatility. Sellers consistently rejected attempts to push above the $0.362 level, particularly during the Sept. 4 13:00 session, while the $0.357–$0.358 area briefly provided support. Still, mounting downside pressure suggests that the zone may not hold, leaving room for extended weakness.Market forces appear to be exacerbating Stellar’s recent decline. Despite several bounce attempts, resistance near $0.362 remains firmly intact. These dynamics coincided with the rollout of Stellar’s Protocol 23 network upgrade on…