Plasma announced a partnership with Stripe focused on expanding stablecoin payments into global markets. The collaboration aims to develop multi-currency payment cards that connect stablecoins with everyday transactions, with plans to simplify international payments and reduce foreign exchange costs.
The proposed payment cards will support six currencies: USD, EUR, BRL, MXN, COP, and PEN. The initiative includes multi-currency balance management and automatic currency selection features. Plasma's payment infrastructure currently covers more than 30 countries, with expansion plans targeting over 100 markets by 2027.
Following the partnership announcement, XPL recorded a 10.92% price surge. The token's 24-hour trading volume expanded by 65.51% to $114 million, indicating increased market participation.
Derivatives markets showed heightened activity around the announcement. XPL's derivatives trading volume jumped by 99.79% to $250.73 million, while Open Interest surged by 17.62% to $213.62 million. The 24-hour Long/Short Ratio reached 1.0807, reflecting a slight preference for bullish positions. Binance's top traders showed stronger long exposure, with their account-based Long/Short Ratio at 1.3607 and position-based ratio at 2.6971.
Total liquidations reached $292.74K, with long positions accounting for $218.32K and short positions $74.42K. Long traders represented roughly 75% of liquidations despite broader bullish positioning.
On daily charts, XPL recovered from the $0.07514 support level and moved toward $0.08512, facing immediate resistance at $0.08996. The RSI indicator stood at 45.36, below the neutral 50 threshold, suggesting relatively weak buying pressure despite exceeding its 44.67 moving average. A successful breakout above $0.08996 resistance could open the path toward the $0.10 region, while failure to break that level could trigger a pullback toward $0.07514 support.
