$XPL price has fallen sharply from early highs it trading around $0.13 per token currently down significantly from its all time highs last year.
Recent technical analysis highlights a major price collapse 80% drawdown as hype fades and trading momentum turns bearish.
Older market reports also noted extended sell offs and low network activity contributing to the downward trend.
A whale sale netted around $11M in a $XPL public sale signalling strong early liquidity at launch.
Plasma announced a collaboration with Daylight Energy which previously sparked brief rallies in $XPL price.
Market indicators remain bearish overall with strong selling pressure and negative price momentum dominating recent weeks meaning volatility and extended consolidation are likely.
Watch for network usage growth real stablecoin flow on Plasma and staking participation these factors will be key for any potential recovery.#XPL #WriteToEarnUpgrade
