Price Analysis
  • Shrishesh Tanksalkar
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    Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

    • 2 minutes read

    Plasma Crypto (XPL) Hits $1.43 Before Cooling—What’s Driving the Surge?

    Story Highlights
    • Plasma price drops 2.1% to $1.28 after touching $1.43 ATH 9 hours ago

    • Viral airdrop, zero-fee stablecoin transfers, and top listings drive momentum

    • Futures launch and $250M USDT locked signal rising institutional interest

    Plasma’s native token XPL has been the talk of the market over the past 24 hours. Despite broader crypto uncertainty, XPL surged to an all-time high of $1.43 before cooling to $1.28, down 2.1% on the day. What makes this move fascinating is that it happened in the middle of a red market, where most altcoins struggled to hold gains. With a market cap now standing at $2.23 billion and 24-hour trading volume exploding by more than 355,000% to $6.77 billion, Plasma is forcing everyone to pay attention.

    The token’s sudden rise isn’t just about speculation. It’s backed by one of the strongest viral launches we’ve seen in months, combined with a unique utility: gasless USDT transfers. Let’s break down the factors fueling this run and what’s next for XPL.

    XPL Price Analysis

    XPL’s price journey in the past day has been nothing short of dramatic. The token bottomed out at $0.6923 just 18 hours ago before mooning to $1.43, its ATH, in less than a day. This 100%+ rally in under 24 hours was triggered by a mix of fundamentals and hype.

    XPL_All_graph_coinmarketcap
    Source: CoinMarketCap

    At the core of Plasma’s appeal is its mainnet beta, which went live on September 25. Within just one hour, the network secured $250 million in locked USDT, proving demand for zero-fee stablecoin transfers. Unlike other blockchains, Plasma’s pitch is simple: send and receive USDT without paying gas fees, something retail traders and whales alike find irresistible.

    The viral factor can’t be ignored either. A 10% airdrop of the total supply, now valued at over $1.2 billion, gave early adopters life-changing returns. Every depositor received a flat $10k allocation, with presalers now sitting on 200x+ profits. Add Cobie’s social media backing, exchange listings on KuCoin, OKX, and Gate.io, plus the launch of leveraged futures, and you get the perfect storm of FOMO and liquidity.

    Still, after such a vertical move, a short-term pullback was inevitable. The price slipping to $1.28 suggests traders are locking in profits, but strong trading volume shows fresh demand remains. If momentum continues, retesting the $1.43 ATH or even higher isn’t off the table. Conversely, a dip below $1.10 could signal deeper consolidation.

    FAQs

    Why did XPL price pump so hard?

    Because of its viral airdrop, gasless USDT transfers, top exchange listings, and heavy hype.

    Is Plasma’s rally sustainable?

    Short-term volatility is likely, but strong utility and adoption give it longer-term potential.

    What’s the biggest risk for XPL right now?

    Profit-taking by early airdrop winners and over-leveraged futures trading could trigger sharp dips.

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