Stellar holders are examining how the network’s reserve requirements affect the amount of XLM that can be freely used, as the token trades near $0.182799 on Coinbase and remains above a key Fibonacci support level at $0.166955.

The discussion centers on XLM held inside funded accounts and other ledger entries. Cheeky Crypto said every funded Stellar account requires a minimum reserve of 1 XLM, while additional trustlines can require 0.5 XLM each. Trustlines, open offers, signers, and other ledger entries may further increase the amount of XLM that cannot be moved like an ordinary spendable balance.

Those rules can reduce the immediately available supply of XLM. They also serve a network-management role by making it costly to create accounts and ledger entries without maintaining a minimum balance. However, the practical supply effect depends on account activity, demand, payment volume, and broader network usage, rather than reserve figures alone.

Stellar Reserve Rules Raise Supply Questions

Cheeky Crypto said Stellar’s account reserve system may be locking away more XLM than many holders realize. Funded accounts need to maintain a minimum balance to remain active, and that reserve cannot be spent in the same way as normal available XLM.

XLM Holders Just Got a Supply Warning

A quiet Stellar rule may be locking away more XLM than most holders realise. Every funded account needs a minimum reserve, while trustlines, offers, signers and other ledger entries can increase the amount that cannot be freely moved. But… pic.twitter.com/HK942aAJmL

— Cheeky Crypto (@CheekyCrypto) July 23, 2026

Trustlines allow users to hold assets and interact with Stellar features, but each trustline can add a 0.5 XLM reserve requirement. Open offers, signers, and other ledger entries can also increase the reserve amount tied to an account.

That distinction matters because Stellar accounts can hold more than one type of ledger entry. A wallet used only for basic XLM transfers may carry a different reserve footprint than an account using issued assets, multiple trustlines, offers, or additional signers.

Even so, locked reserves do not automatically create strong scarcity. Account count, payment volume, and active use have to be assessed separately. A large number of accounts may not necessarily indicate strong economic demand across the network.

Activity and Demand Remain Important

Cheeky Crypto said holders should avoid judging the supply picture from account numbers alone. Some accounts may be pooled, inactive, or supported through sponsored reserves, which can weaken a simple supply-squeeze argument based only on the number of funded accounts.

Sponsored reserves can move reserve costs away from certain users. That may change how much XLM individual users need to hold directly and can make reserve data harder to interpret without wider network context.

Stellar’s reserve rules can also change over time through network governance. Any change to those rules could affect how much XLM remains locked in accounts. Longer-term holders may monitor active accounts, payment volume, real asset use, and changes in ledger-entry behavior when evaluating the role of reserves in usable supply.

XLM Price Holds Near Key Support

The daily XLM/USD chart on Coinbase showed Stellar trading near $0.182799. XLM was down about 2.47% at the time of the chart reading, while remaining above the main lower Fibonacci support level at $0.166955.

The first resistance level is near $0.20. A stronger recovery would require XLM to reclaim $0.226355 on the daily chart, a level identified as the 0.786 Fibonacci area and a key recovery point.

Momentum remains weak while XLM trades below $0.226355. The RSI is near 44.19, below the neutral 50 mark. Buyers are watching whether XLM can defend $0.166955 while also tracking reserve data and network demand.