Key Takeaways
What does XPL’s surge in derivatives volume and Open Interest indicate?
It signals intense speculative activity and growing institutional and retail interest.
Can XPL break above the $1.44 resistance level?
If demand stays above $1.11 and funding remains balanced, a breakout above $1.44 is likely.
Plasma [XPL] has rapidly built traction across the crypto market after securing listings on KuCoin, OKX, and Bitget, all of which added futures and margin trading to boost liquidity.
The mainnet beta launch on the 25th of September locked $250 million in USDT in less than one hour, signaling heavy adoption pressure.
Alongside these milestones, the project’s oversubscribed public sale raised $373 million at seven times demand.
Can XPL price break through the $1.44 resistance?
XPL’s chart reveals a parabolic rally, surging from $0.82 support to highs of $1.42 before settling near $1.24, at press time.
The key resistance remains at $1.44, where rejection has already occurred, while $1.11 now acts as an intermediate pivot. The rising trendline from early September continues to provide strength, showing consistent higher lows.
The Stochastic RSI stood at 87, signaling overbought conditions. This suggests buyers may need a period of consolidation before attempting another breakout.
However, bullish momentum remains intact as long as the token holds above the $1.11 support level.
Derivatives volume and OI explosion signals heated speculation
At the time of writing, XPL’s derivatives landscape saw an
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Author: Erastus Chami
