Plasma (XPL) has surged 87.25% since its launch on September 25, reaching an all-time high of $1.69 before settling at $1.55. The rally was driven by significant whale accumulation, $2 billion in stablecoin liquidity, and $399.8 million in buy volume. On-chain data shows a whale purchased 20 million tokens pre-launch, netting $80.15 million in profits. The cryptocurrency's market cap has climbed to $3.3 billion, bolstered by retail demand and sustained inflows. Analysts suggest that continued large-scale buying could see XPL retest $1.67 and potentially reach $2, although profit-taking might lead to a pullback to $1.44.