In a remarkable turn of events, ONDO, a Real World Asset (RWA) token, has surged to a new all-time high of $2.14. This spike followed a substantial acquisition by World Liberty Financial (WLFI), a crypto initiative supported by former President Donald Trump. Data from Arkham Intelligence reveals that WLFI purchased 134,216 ONDO tokens, totaling a $250,000 investment, which sparked a noteworthy rise in the token’s price.
The market reacted strongly to this purchase, with ONDO experiencing a significant 17% increase over the past 24 hours. The Real World Assets (RWA) market capitalization also saw an uptick, reaching $21.8 billion—a 2.0% rise from the previous day. This growth signals a burgeoning sector that investors should consider as a potential buy in the coming months. Let’s delve into how ONDO is impacting investor strategies.
Strong Demand Fuels the ONDO Rally
The recent price surge of ONDO is underpinned by genuine demand rather than mere speculation. Within 24 hours, ONDO has become the market’s top gainer, with its price climbing by 17%. This price hike is accompanied by a trading volume increase exceeding 120%, indicating robust interest from investors. The heightened trading activity points to a strong and growing demand for ONDO, suggesting that more investors are keen to buy into this asset.
Is Now the Right Moment to Invest in ONDO?
The On-Balance Volume (OBV) indicator, which measures buying and selling pressure, has reached its highest peak in seven months. This is a promising indicator, as it suggests that the price rise is backed by substantial buying interest. A rising OBV in tandem with increasing prices typically implies a well-founded rally, hinting at potential continued growth in the near term.
Future Outlook: Will ONDO Sustain Its Growth Momentum?
Currently priced at $2.05, ONDO is hovering just below its all-time high of $2.14. Should the price successfully breach this level, it may continue to ascend. Conversely, if investors opt to secure profits, ONDO could experience a pullback to its next significant support level of approximately $1.79.
Notably, ONDO has achieved a new all-time high after a six-week rally, accumulating over 200% gains since early November. Following strong support at $1.37 last week, ONDO is now eyeing a potential new high of $2.51, according to Fibonacci extensions. However, the Relative Strength Index (RSI) stands at 78, indicating overbought conditions, which could suggest an imminent correction. Additionally, ONDO’s futures Open Interest has surged, reflecting ongoing market interest and the potential for further gains.
With the backing of Trump’s crypto project and increasing investor enthusiasm, ONDO demonstrates strong potential for sustained growth. Investors are closely monitoring whether the token can uphold its upward trajectory in the coming days, amid fluctuating market dynamics.
