Plasma (XPL) experienced an 11% price surge and a nearly 90% increase in trading volume within 24 hours, driven by retail investors buying the dip. Despite this rebound, on-chain data indicates that top traders have already exited their positions, with no significant return of smart money. Currently trading above $1, Plasma's price forms a triple-bottom pattern, but a decline below $0.95 could lead to a retest of $0.83. Over 73% of XPL's supply is now held on exchanges, suggesting potential sell pressure. While Plasma's fundamentals remain robust with 28.7 million transactions and a total value locked (TVL) of $5.28 billion, upcoming 2026 token unlocks could release 25% of the supply, impacting market dynamics.