Plasma XPL falls 11.58% despite new neobank launch, traders remain bearish with strong selling pressure.

Plasma's XPL token dropped 11.58% in 24 hours despite launching Plasma One’s neobank and Visa card. Trading volume rose 13.42% to $115.9 million, showing active market participation but increased selling pressure. Top traders held a cautious bearish stance, with more long positions liquidated than shorts, indicating leveraged bulls faced heavier losses. Price remains above key $0.085 support but struggles to break $0.1058 resistance, crucial for confirming a bullish reversal pattern. If buyers reclaim this neckline, XPL could target $0.120 and $0.150; otherwise, it may consolidate below breakout levels.