Plain text authentification

Hi.

I've been running some tests on my local ejabberd server using or not SSL/TLS.
I tried once with no encryption at all, using this line only :

{5222, ejabberd_c2s, [{access, c2s}, {max_stanza_size, 65536}, {shaper, c2s_shaper}]}

I started the server, launched a packet capture on lo (everything is local),and launch psi.
PSI warned my because auth info was about to be sent in plain text. I agreed and successfully auth on the server.

Then, I looked at the packet capture, but I was unable to see the auth info in plain text. The intersting line I saw about auth is :

What does this chain means ? is it a mix of the username + password... ?

Thank you !