- XPL trades near a key support zone after surging from $0.80 to $1.50 in 48 hours.
- Plasma Network surpasses Base in DeFi TVL with $4.94B locked post-mainnet launch.
- Bithumb to list XPL in KRW market, signaling growing demand from Asian investors.
After soaring 87% in just days, XPL is now testing a key support near $1.30. With a sharp 12% dip in 24 hours, traders are on edge as Plasma Network’s DeFi dominance challenges the market’s next move.
XPL Eyes Rebound at Key Support Zone
XPL is at a make-or-break moment. Following a parabolic rally that sent the token from $0.80 to a peak of $1.50 between September 26 and 27, the price is now consolidating above a crucial horizontal support area between $1.35 and $1.38.
Data from Alpha Crypto Signal’s 2-hour Binance chart highlights this zone as former resistance during the breakout — now retested as support. At the time of writing, XPL trades around $1.3884, just below its 9 EMA at $1.4253, indicating short-term bearish momentum.
Volume has dropped significantly since the breakout, a typical sign of cooling demand during consolidation. A clean hold above $1.35 could spark a bounce toward $1.45–$1.50.
However, a decisive break below $1.34 with strong volume would invalidate the bullish structure and expose downside risk toward the $1.20–$1.25 range.For now, all eyes are on how XPL reacts at this key zone.
Plasma Network Surges Past Base in DeFi TVL
Plasma Network, the blockchain behind XPL, is making waves in the DeFi space after it recently overtook Base Network in total value locked (TVL), crossing $4.94 billion versus Base’s $4.83 billion.
The mainnet’s focus on stablecoin integration and DeFi payments has attracted massive inflows. Within days of launch, over $2 billion poured into the platform. Institutional and whale investors quickly followed, pushing XPL’s price up 54% on launch day, with trading volume spiking over 17,000%.
The TVL boost stems from over 100 DeFi protocols — including Aave, Euler, Binance, Chainlink, and Fluid — integrating with Plasma’s ecosystem. The momentum has positioned Plasma among the top eight DeFi blockchains by TVL, just behind Tron and BSC.
New Listing on Bithumb Boosts Exposure
Further strengthening its market position, XPL is now set to be listed on Bithumb, one of South Korea’s largest crypto exchanges. The listing in the Korean won (KRW) market opens the doors for broader retail and institutional adoption in Asia.
As interest surges, the token’s resilience at its current support could determine whether bulls reclaim control and push toward $1.50 — or if the structure gives way to a deeper pullback.
