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Stellar (XLM) completed a death cross on its short-term chart, with the market now watching where price trends next. The 50 MA has fallen below the 200 MA on the 2-hour chart, confirming a death cross pattern.
This comes after XLM's momentum waned following a 103% price surge at May's close as investors reacted to the news that Wall Street clearing giant, DTCC, which controls $114 trillion in assets, is expanding on the Stellar blockchain.
XLM has since declined after reaching a high of $0.297 on May 30, with a death cross forming on its short-term charts. At the time of writing, XLM was down 6% in the last 24 hours to $0.184 as the crypto market edged lower ahead of critical economic data releases. The XLM token is down 18% weekly, given the continued selling pressure in the market.
Following the drop, Stellar returned below the daily MA 200 at $0.188. The next key support, which Stellar must confirm, is the daily MA 50 so as not to return to the lower part of its current range. A return above the daily MA 200 will target $0.21 ahead of the $0.27 to $0.29 range.
Stellar prepares for key upgrades
Stellar developers have revealed key dates ahead of the next protocol update, "Protocol 27." June 5 saw the Stellar Core stable release, while RPC and Galexie releases are anticipated on June 10. SDK releases are planned for June 5-11, while June 12 was highlighted for Horizon release. The testnet upgrade and the mainnet upgrade vote are scheduled for June 18 and July 8, respectively.
Protocol 27 includes Authentication delegation for custom accounts (CAP-0071-01), which adds a first-class protocol mechanism for custom (smart contract) accounts to delegate their authentication logic to other addresses.
Developers have introduced the Quantum Preparedness Plan (QPP) for Stellar, a program aiming to migrate the network to quantum-safe cryptography.
By the end of 2027, every Stellar account is expected to be able to add a quantum-safe signer through a native protocol upgrade, keeping the same address and the same history. Enterprise wallets are expected to be able to move to quantum-safe signing in 2026 through Soroban contract accounts.
U.Today Editorial Team
Dan Burgin
