XPL Drops 14% After Pump: What’s Next for Plasma?


XPL drops 14% in 24h, returning to key support at $0.75 as RSI hits oversold and Open Interest stays above $1B.

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Plasma (XPL) has recorded a sharp decline after its recent rally. The token is now priced around $0.75, reflecting a 14% drop in the last 24 hours and 23% over the past week.

The move follows a brief push that took the price as high as $1.07 in the past seven days.

Price Back at Support Area

Meanwhile, the price has returned to a support range between $0.74 and $0.78, where previous consolidation and a rising trendline converge. This area acted as a base for the last upward move. The 0/8 Murrey Math Line at $0.78 also aligns with this zone, suggesting it remains a level of interest.

XPL price chart
Source: TradingView

The Relative Strength Index (RSI) on the 4-hour chart is now around 30, placing it in oversold conditions. Early signs of a possible reversal are visible, but there is no confirmation yet. If the trendline and support hold, buyers may step in. If not, lower levels around $0.68 and $0.59 could come into play.

Futures Open Interest Holds Above $1B

XPL futures Open Interest is currently around $1.09 billion, up sharply from below $300 million in late August. The jump began during the late September rally, when the price climbed toward $1.6. During that move, Open Interest peaked, suggesting strong trading activity and high positioning.

XPL open interest
Source: Coinglass

Although both price and Open Interest have come off their highs, the current level shows that traders remain active. The chart reflects that a large number of positions are still open, which may keep price movement volatile in the short term.

Analyst Says Market Now Finds Fair Value

Crypto analyst Duo Nine posted a breakdown of XPL’s recent activity. He said,

“At $1.70 insiders started to unload… market maker support at $0.85 failed under pressure.”

He added that with the pump phase over, the market is now moving to “find the real price of XPL.”

Data shows XPL hit its all-time high of $1.68 on September 28, while the all-time low of $0.72 came just days before. With current price action testing that same range, traders are watching to see if support holds or if further decline follows.

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Source: https://cryptopotato.com/xpl-drops-14-after-pump-whats-next-for-plasma/