Stellar (XLM) has reached new on-chain activity records in December 2025, with operations and transactions hitting annual highs. The network's payment-related operations and total value locked (TVL) have surpassed $179.18 million, indicating increased real-world demand and usage. Despite these strong fundamentals, XLM's price remains stagnant, fluctuating between $0.195 and $0.24. Analysts highlight that the current price hovers near a key support level, with potential targets in the $0.40 to $0.49 range. This mirrors recent trends seen with XRP, where strong network performance has not yet translated into significant price gains.