Ponzi Trader presents his high-conviction trade of the week: a long position in Plasma (XPL) based on a new token-holding requirement for top fee tiers and technical signs of a downtrend reversal. He outlines entry, target, and margin, while noting macro risks that could derail the trade.
- Ponzi Trader reveals his highest conviction trade of the week is Plasma (XPL).
- He entered long just below 7 cents with 5X margin and a target just below 12 cents.
- A new requirement to hold 100,000 XPL for the highest fee tier on the Plasma card and app could boost demand.
- Technically, XPL is showing signs of reversing its year-long downtrend after taking out the low.
- The main risk is a broader market sell-off from major crypto or geopolitical headlines, which could hit XPL harder due to its beta.