- Hedera and Stellar prices rose about 15% and 10% respectively amid an altcoin surge.
- HBAR and XLM are testing key levels, boosted by Bitcoin’s swift rebound above $70,000.
- Analysts caution that prices could still slip after the recent relief rally.
Hedera (HBAR) and Stellar (XLM) recorded double-digit gains as the crypto market staged a rapid recovery following Thursday’s steep sell-off, which eliminated more than $2.6 billion in leveraged positions.
Altcoins climbed alongside Bitcoin, which plunged to roughly $60,000 during the crash but has since bounced back past $70,000, leading the broader market’s rebound.
HBAR and XLM’s advances mirrored notable upticks in XRP, Flare, VeChain, and Kaspa. Ethereum, which briefly dipped toward $1,700 during the sell-off, is testing resistance around $2,000.
HBAR and XLM price gains
Hedera’s token fell to about $0.073 during the late-Thursday rout but has since recovered to trade above $0.093 as buyers target the $0.10 level surrendered earlier this week.
Over the past 24 hours HBAR surged more than 15% while trading volume jumped roughly 65% to over $420 million, a sign of renewed buying interest after the dip.
If sentiment improves further, bulls may push toward year-to-date highs near $0.13.
Stellar, which historically often tracks XRP’s moves, also rallied on Friday.
At the time of writing, XLM was up about 10%, having spiked as much as 13% during early U.S. trading hours.
XRP’s 18% surge, which took prices to roughly $1.52 after a drop to $1.13, helped lift related assets like Stellar.
CoinMarketCap data showed Stellar trading around $0.17, a marked recovery from intraday lows near $0.13.
Volume supported the bounce: XLM’s 24-hour trading volume reached a high near $426 million, an increase of more than 56% over the same period, indicating stronger participation from buyers.
Even so, market sentiment remains inside the “extreme fear” zone. Analysts note that a clean break above $0.20 for XLM could pave the way for renewed bullish momentum.
Bitcoin tops $70,000 as cryptocurrencies rebound
Bitcoin is driving the market’s current recovery after a sharp correction wiped out sizeable leveraged positions.
The rapid deleveraging pushed BTC down to about $60,000, marking an approximately $10,000 one-day decline—the most severe single-day drop since the FTX collapse in 2022.
The rebound has been accompanied by rising open interest, short-covering, and a climb back toward the critical $70,000 area. Technical indicators such as the daily RSI are showing signs of bullish divergence.
CoinShares notes that record ETP volumes, a pause in whale selling, and BTC trading below miners’ production costs have historically signaled accumulation phases rather than the start of a prolonged downtrend.
Still, some analysts urge caution. Crypto commentator Rekt Capital warned that after an initial relief rally, historical patterns point to the possibility of further downside before a sustained recovery.
“History suggests there’s more downside to come,” he cautioned, reflecting a view that bulls may need to overcome additional bearish pressure.
Bitcoin was trading around $71,190 at the time of writing.