#XPL爆跌至新低 $XPL fell to a historical low of $0.157786 on December 9, 2025, a drop of over 90% compared to the historical high of about $1.68 on September 28. As of 10 AM on December 15, its price remained around $0.15, and the downward trend is hard to change. This is due to multiple factors, including poor project performance and token unlocking pressure:
1. The actual performance of the project is far below expectations: Before the launch of XPL, it claimed that the network could handle 1,000 transactions per second, but by the end of November, the actual measurement was only 3.6 transactions per second, a significant gap from the promotion. Moreover, as a chain primarily focused on stablecoin settlements, it has not formed a sufficient on-chain ecosystem and user activity, lacking substantial application landing. After the initial hype driven by concept speculation faded, funds naturally withdrew in large amounts, pushing the price to continue to decline.
2. Token unlocking triggered a selling spree: On November 25, XPL faced a large unlocking of 88.88 million tokens, valued at $18.13 million, which was the largest single-week unlocking in the industry at that time. Even though over 80% of the supply is still locked, the expectation of large unlocks has led investors to sell their chips in advance, directly triggering a sharp price drop. Continued concerns about subsequent unlocks have also made the market hesitant to enter easily.
3. The technical aspect shows a clear bearish trend: Data on December 13 showed that the XPL price was far below the 20-day moving average ($0.1908) and the 50-day moving average ($0.2508). The MACD indicator issued a sell signal, and the ADX indicator also confirmed strong bearish strength. Analysts predict that it is highly likely to fluctuate in the range of $0.133 - $0.163 in the short term, with a very low probability of breaking through the resistance level of $0.163, and the risk of further decline is greater.
4. Lack of communication from the project team exacerbates market panic: In the face of falling token prices and underperformance of network capabilities, the Plasma team has not provided a clear and convincing response, creating a continuous communication vacuum. This attitude has completely shattered investor confidence in the project’s prospects, leading originally cautious investors to follow the trend in selling, further amplifying the downward momentum.
