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$XPL surged 14.18% in 24 hours while trading volume jumped 71.04% to $143.3 million, highlighting renewed speculative demand across the market.
The sharp rise in activity pushed $XPL’s volume-to-market-cap ratio to 83.41%, indicating traders increased participation aggressively rather than relying on thin liquidity conditions.
As buyers returned and market activity accelerated, $XPL started recovering from a prolonged period of weakness.
However, the token still traded below key resistance zones despite the recent advance.
With bullish positioning strengthening across both Spot and derivatives markets, the focus now is whether the latest recovery could evolve into a broader trend reversal or remain a temporary relief rally.
Bullish traders continue holding control
Sentiment among Binance’s largest traders remained tilted toward the bullish side despite recent volatility.
ConGlass data showed that 57.84% of top trader accounts stayed long, while only 42.16% maintained short exposure.
The resulting long-to-short ratio stood at 1.37, indicating that bullish positioning continued outweighing bearish bets.
Although the ratio remained below recent peaks, traders still showed greater confidence in upside potential than downside risk.
This positioning aligned with the recent increase in Spot activity and suggested that professional participants had not abandoned the recovery narrative.
Even after the strong daily rally, long exposure continued dominating account positioning, which indicated that many traders still expected higher prices rather than preparing for an immediate reversal.
Can $XPL reclaim higher resistance zones?
Price action strengthened after $XPL rebounded from the major $0.080 support zone and established a series of higher lows.
The recovery pushed price back toward the middle of its broader trading range, where resistance at $0.1105 remained the next critical obstacle.
Beyond that level, the chart highlighted $0.1407 as the major upside target.
Meanwhile, the Relative Strength Index climbed to 54.80 and moved above its moving average near 41.55.
This shift suggested buying strength had improved following the recent rebound. However, the asset still traded below the first resistance barrier.
If buyers sustain current demand levels, $XPL could challenge $0.1105 first before attempting a larger move toward the $0.1407 resistance zone.
$XPL funding data supports the bullish narrative
Derivatives positioning continued supporting the recovery as the OI-Weighted Funding Rate remained positive at 0.0062%.
Positive funding typically indicates that long traders paid a premium to maintain their positions, reflecting stronger demand for bullish exposure.
Throughout recent months, funding fluctuated between positive and negative territory. However, the latest reading showed traders favored long positions during the ongoing rebound.
This behavior complemented the bullish bias observed among Binance top traders and suggested sentiment remained constructive across multiple market segments.
While funding levels did not indicate excessive speculation, they reflected a healthy preference toward upside exposure.
Therefore, derivatives traders appeared willing to support the recovery rather than aggressively betting against it.
To conclude, $XPL’s rally gained support from rising trading activity, bullish trader positioning, improving technical structure, and positive funding conditions.
Buyers successfully defended the $0.080 support zone and pushed price back toward important resistance levels.
Although $XPL had not reclaimed $0.1105 yet, current market conditions suggested further upside attempts would remain likely.
If participation continue expanding, the token could challenge the $0.1105 level and eventually $0.1407 in the sessions ahead.
Final Summary
- $XPL recovered from major support as trading activity and buying interest increased.
- Bullish positioning and positive funding continued supporting the ongoing recovery attempt.
