Plasma price has been one of the hottest tokens on the market this past week. The price has surged about 85% to around $1.52, briefly topping the gainer boards and drawing a lot of attention.
There are a few big reasons why this rally has taken off and why many traders think the move might not be over yet.
The first big boost came from Plasma’s mainnet beta, which launched on September 25 with roughly $2 billion in stablecoin liquidity and a headline feature of zero-fee USDT transfers.
Uniswap also approved $500,000 in incentives for Plasma trading pairs, adding to the excitement. Because the network is EVM-compatible, DeFi projects can deploy without friction, and early numbers show about $7 billion in daily inflows on average.
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With only around 1.8 billion XPL in circulation, about 18% of the total supply, there isn’t much near-term sell pressure, so the supply side looks tight.
Another factor has been the airdrop and major listings. About 10% of the total 10 billion XPL supply was airdropped to early depositors and BNB holders, and big exchanges like KuCoin, OKX, and Bybit quickly listed the token.
"XPL is pumping because of crime"
— Clemente (@Chilearmy123) September 28, 2025
– Trencher sidelined to anything that's not a sub $1m memecoin
Meanwhile Tether is raising at a $500B valuation
Plasma reaches $7B in deposits in 2 days
& USA using Genius Act to save the dollar??
Yeah, I'm sure $XPL is topping out at $1.50 pic.twitter.com/HRuKrMyLNG
Bybit even launched a 9 million XPL rewards pool, which helped create instant trading activity. Still, there are signs of profit-taking under the surface. Open interest on derivatives dropped nearly 7% in a single day even as price held steady, so some of those early recipients might be cashing in.
The memecoin frenzy inside Plasma’s own ecosystem is adding another layer of fuel. Tokens like $TRILLIONS have soared hundreds of percent on Plasma DEXs, and traders are using their airdropped XPL to speculate.
That drives extra demand for XPL as the gas token. A built-in 1.52% fee burn helps counter the network’s 5% annual token issuance, but whether the hype stays after the initial memecoin wave is still a question.
Finally, there’s the credibility angle. Community analysts point out that Plasma lets you move USDT for free, while Tether just raised $20 billion at a $500 billion valuation. Add in Tether CTO Paolo Ardoino and PayPal co-founder Peter Thiel as backers, and it’s easy to see why traders see Plasma as more than a flash in the pan.
Plasma is one of the easiest bets for outperformance in the next couple of months imo,
— lyxe (@cryptolyxe) September 27, 2025
– $XPL acts as native token for plasma eco system, letting you transfer USDT for FREE.
– Tether just raised $20B at a $500B valuation, and Paolo (CEO of tether) + Peter Thiel.
– Presale… pic.twitter.com/e7vitanM4W
Presale tokens remain locked until Q2 2026, which limits immediate selling and adds to the bullish setup. With a $2.5 billion circulating market cap and strong product adoption, some in the community even talk about a possible run toward $4.
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Plasma Chart Analysis: Momentum Meets a Demand Zone
The 15-minute XPL chart shows how all of this is playing out technically. Earlier in the week, price action broke through key resistance levels twice, printing two clear breaks of structure as it climbed from below $1 to the $1.50–$1.60 range.
After peaking near $1.63, the rally cooled and XPL price began to pull back toward the 20-period EMA, which now sits around $1.57.
Right now, the market is testing a key demand zone around $1.50 to $1.52. This area has already acted as a strong base during earlier consolidations and could again provide a springboard for buyers.
The RSI at the 35 mark registers short-term oversold levels, which generally result in a bounce. If bulls are able to sustain this level, a rally back to $1.60 and even $1.70 is possible. A clean break below $1.48, however, could signal a larger pullback to $1.40 support.
XPL Price Outlook
Plasma’s fundamentals and speculation are feeding off each other, creating a powerful rally. The convergence of a rapidly growing mainnet, high-profile backers, major exchange listings, and an engaged memecoin community creates a strong bullish thesis.
In the short term, it’s all about whether or not the $1.48–$1.52 demand zone breaks. A bounce there would potentially spark the next leg higher, while a breakdown may tighten the correction. For now, XPL remains one of the most closely watched tokens on the market.
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