ONDO Price Hits $2.14: Did Trump-Backed WLFI Trigger the Rally?

$ONDO, a Real World Asset (RWA) token, has hit a new all-time high of $2.14, following a major purchase by World Liberty Financial, a crypto project backed by former President Donald Trump. According to Arkham Intelligence, the company acquired 134,216 $ONDO tokens worth $250,000, triggering a sharp rise in $ONDO’s price.

This surge represents a strong market reaction to the purchase, with $ONDO seeing an impressive 17% increase in the past 24 hours. Interestingly, Real World Assets (RWA) market capitalization has also touched $21.8 billion, up 2.0% over the previous day. Showing that the sector is booming and will be a best buy in the coming months. Let’s see how $ONDO is moving the clock for investors.

Strong Demand Drives the Rally

The price surge is not just a result of speculation; it’s supported by real demand. $ONDO’s price has increased by 17% in the past 24 hours, making it the top gainer in the market. Along with the price rise, trading volume has jumped by over 120%. This suggests that the rally is driven by real demand from investors, not just speculation. The surge in trading shows that more people are buying $ONDO, indicating strong interest in the token.

Good Time to Buy?

The On-Balance Volume (OBV) indicator, which tracks buying and selling pressure, has reached its highest level in seven months. This is a positive sign, as it shows that the price increase is supported by strong buying interest. When OBV rises with the price, it suggests that the rally has a solid foundation and may continue shortly.

Looking Ahead: Can $ONDO Keep Growing?

$ONDO’s price is currently at $2.05, just below its all-time high of $2.14. If the price breaks above this level, it could reach even higher prices. However, if investors decide to take profits, $ONDO might see a pullback to around $1.79, its next major support level.

Notably, Ondo has hit a new ATH after a six-week rally, marking over 200% gains since early November. The price surge followed strong support at $1.37 last week and is now targeting a potential new high of $2.51, based on Fibonacci extensions. However, with the Relative Strength Index (RSI) at 78, there are signs of overbought conditions, hinting at a possible correction. Plus, $ONDO’s futures Open Interest has surged, indicating continued market interest and potential for further gains.

With backing from Trump’s crypto project and growing investor interest, $ONDO is showing strong potential for continued growth. Investors will be watching closely to see if the token can maintain its upward momentum in the coming days.