TradingKey – XPL continues its rally, breaking past $1.70 amid intense investor enthusiasm, though correction risks loom.
On Sunday, September 28, Plasma’s native token XPL extended its upward momentum, hitting a new high of $1.70. Since its spot listing on OKX and Binance on September 26, XPL has surged over 50%, defying the broader crypto market’s pullback.
XPL Price Chart – Source: TradingView.
Despite the overall uptrend, XPL has seen sharp intraday reversals, triggering liquidations on both long and short positions. In the past 24 hours, total liquidations exceeded $26 million, with long positions accounting for roughly half.
XPL Liquidation Data – Source: Coinglass.
While most cryptocurrencies are experiencing corrections, XPL continues to dominate the top gainers list across major exchanges. The surge is largely driven by FOMO (fear of missing out), as traders rush in. However, investors should remain cautious—especially with new Alpha projects emerging on centralized platforms, which could divert speculative capital and trigger volatility.
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