Market

ONDO Drops 18% After a Brief Rally

Published

8 hours ago

March 4, 2025

Coin2049 Newsletter

Ondo Finance (ONDO) briefly surged almost 20% yesterday, but the gains were reversed within 24 hours. Despite this pullback, ONDO remains a major player in the real-world asset (RWA) sector.

Technical indicators suggest momentum is slowing, while whale activity has declined for the first time in over two weeks. Whether ONDO can recover and push past key resistance levels or continue its correction toward lower support zones will depend on market sentiment and potential future developments regarding its inclusion in the reserve.

ONDO RSI Is Going Down After Reaching Its Highest Levels In 3 Months

ONDO surged in momentum yesterday, pushing its Relative Strength Index (RSI) to 76.1 before cooling off to 54.8.

The RSI is a widely used momentum oscillator that measures the speed and magnitude of price movements on a scale from 0 to 100. Readings above 70 indicate overbought conditions, often signaling a potential pullback.

Meanwhile, readings below 30 suggest oversold conditions that may lead to a rebound. With ONDO’s RSI briefly crossing 70 for the first time in three months, traders took it as a sign of strong bullish momentum before the recent retracement.

Now sitting at 54.8, ONDO’s RSI has dropped back to neutral territory, reflecting a slowdown in buying pressure. This suggests that the recent rally may have been overextended, leading to profit-taking and a potential period of consolidation.

If RSI stabilizes above 50, ONDO could maintain its bullish structure and attempt another move higher.

However, if it continues to decline toward 40 or lower, it could indicate weakening momentum, increasing the chances of further downside.

The Number Of ONDO Whales Dropped For The First Time Since Mid-February

The number of ONDO whales – wallets holding between 1 million and 10 million ONDO – had been steadily increasing since February 17, rising from 203 to 221 by March 1.

However, this trend reversed in the last few days, with the number of whales now dropping to 214. Tracking whale activity is crucial because large holders can significantly impact price movements through their buying or selling decisions.

A rising number of whales often signals accumulation, suggesting confidence in ONDO’s long-term potential, while a decline could indicate distribution, increasing the risk of selling pressure.

Addresses holding between 1 million and 10 million ONDO. Source: Santiment.

Despite the recent drop, the current number of whales remains high compared to previous months. That suggests that broader confidence in the asset is still intact.

However, this is the first decline in over 15 days, which could signal that some large holders are taking profits or repositioning. If this trend continues downward, the RWA coin could face increased selling pressure, potentially leading to further corrections.

On the other hand, if whale numbers stabilize or start rising again, it could indicate renewed accumulation. This would suggest a potential price rebound.

ONDO Falls Below $1

The broader market rally pushed ONDO’s price close to $1.20 yesterday before a correction began, signaling that traders were taking profits.

While ONDO remains a key player in the real-world asset (RWA) sector, its short-term price movement will depend on whether the current pullback deepens or stabilizes.

ONDO Price Analysis. Source: TradingView.

If the correction continues, it could test support around $0.95. Further declines could potentially bring it down to $0.90 or $0.88. If it drops below $0.80, this would be the first time that has happened since November 2024.

However, if bullish sentiment returns, ONDO could regain momentum, especially if the US takes a more crypto-friendly stance on RWAs or if ONDO is eventually added to the US strategic crypto reserve.

In that scenario, it could break through resistance at $1.26 and $1.44, with a strong rally potentially sending it toward $1.66.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

XRP Rally Fades—Price Surrenders Recent Gains

Published

1 hour ago

March 4, 2025

Coin2049 Newsletter

XRP price started a fresh decline from the $3.00 resistance. The price is up down over 20% and might extend losses below the $2.20 support.

XRP price started a fresh decline from the $3.00 zone.
The price is now trading below $2.50 and the 100-hourly Simple Moving Average.
There was a break below a connecting bullish trend line with support at $2.40 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might continue to move down if it breaks the $2.20 support zone.

XRP Price Reverses

XRP price rallied above the $2.50 and $2.80 levels before the bears appeared, like Bitcoin and Ethereum. The price failed to clear the $3.00 resistance and started a fresh decline.

There was a sharp move below the $2.80 and $2.60 levels. The price traded below the 50% Fib retracement level of the upward move from the $1.95 swing low to the $3.00 high. There was also a break below a connecting bullish trend line with support at $2.40 on the hourly chart of the XRP/USD pair.

The price is now trading below $2.40 and the 100-hourly Simple Moving Average. It is now finding bids just above the 76.4% Fib retracement level of the upward move from the $1.95 swing low to the $3.00 high.

On the upside, the price might face resistance near the $2.35 level. The first major resistance is near the $2.40 level. The next resistance is $2.4750. A clear move above the $2.4750 resistance might send the price toward the $2.620 resistance.

Any more gains might send the price toward the $2.700 resistance or even $2.750 in the near term. The next major hurdle for the bulls might be $2.80.

More Losses?

If XRP fails to clear the $2.40 resistance zone, it could start another decline. Initial support on the downside is near the $2.20 level. The next major support is near the $2.120 level.

If there is a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.20 and $2.120.

Major Resistance Levels – $2.40 and $2.4750.

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Market

What Traders Need to Know

Published

2 hours ago

March 4, 2025

Coin2049 Newsletter

Binance, the largest crypto exchange based on trading volume, announced plans to use GPS tokens, which powers GoPlus Security. This company provides open, permissionless, user-driven security services for the Web3 environment.

The exchange also adds GPS to HODLer airdrops, which rewards BNB holders with token airdrops based on historical snapshots of their BNB balances.

Binance New Listing: What Users Need To Know

GoPlus Security is a company that covers major blockchain networks with multidimensional risk detection. According to a recent Binance announcement, its token, GPS, will be available for trading on the exchange starting Tuesday, March 4, at 13:00 UTC, against select token pairs.

“Binance will then list GPS at 2025-03-04 13:00 (UTC) and open trading against USDT, USDC, BNB, FDUSD, and TRY pairs,” the announcement stated.

In the immediate aftermath of this Binance listing announcement, GPS soared by 16%,

GoPlus Security Token GPS Price Performance. Source: TradingView

Notably, users can start depositing GPS tokens at 10:20 UTC in preparation for trading. Cognizant of the token’s relative newness in the market, the Binance exchange articulated that it would attach a seed phrase. This special identifier is a precaution to distinguish GPS from any other token.

It is also worth noting that Binance will list GPS at zero listing fees, which means users can trade the GoPlus Security token without incurring any trading fees.

Beyond listing, the GPS token also joins the Binance Exchange HODLer airdrops program. These positions select BNB token holders to receive allocations. The initiative rewards users retroactively, offering a simple way to earn additional tokens.

“Binance is excited to announce the 11th project on the HODLer Airdrops page – GoPlus Security (GPS). Users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products from 2025-02-19 00:00 (UTC) to 2025-02-24 23:59 (UTC) will get the airdrop distribution,” the exchange added.

The listing and addition to the HODLer airdrops page is not Binance’s first interaction with GoPlus Security. In December 2022, YZi Labs (then Binance Labs) announced leading private round II funding for GoPlus Security.

The funding was intended to further develop GoPlus Security’s technology, create a security services marketplace, and attract top talent to help build a safer and more user-friendly Web3 ecosystem.

In April of the same year, GoPlus Security raised a multi-million dollar private funding round, but Binance did not participate.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Solana (SOL) Plunges 20%—Key Support Levels Now in Focus

Published

3 hours ago

March 4, 2025

Coin2049 Newsletter

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