Market
Ondo (ONDO) Flashes Bullish Signal, Accelerating $2 Predictions
Calls for Ondo (ONDO) to reach a new all-time high dominated the market after the price reached $1.48 on June 3. Yet, the token went against those wishes and is now 17.64% down from its peak.
When analyzing a cryptocurrency’s prospective price, on-chain data lets out unseen insights to help investors make informed decisions. For ONDO, there has been a change in previous developments, suggesting that the bullish predictions could become reality.
Cheaper Spend Can Lead to Higher Prices
When ONDO launched, its price was around $0.11. However, its 658% increase over the last 365 days makes it one crypto with many eyes on it. Fueled chiefly by solid fundamentals and a trending Real World Asset (RWA) narrative, here is how the cryptocurrency may fare in weeks to come.
To start with, BeInCrypto assesses the Realized Cap. Simply put, the Realized Cap measures the average value weighted by the price token holders paid for it. Furthermore, increases occur when cryptocurrencies that were last moved are spent at cheaper prices.
Converesly, the value decreases when the last tokens moved are spent at high prices. As a result, the metric acts as on-chain support or resistance.
At press time, ONDO’s Realized Cap stands at $1.15 billion. On average, the metric is a crucial tool for spotting accumulation and distribution regions. However, this happens when compared with the market cap.
If the Realized Cap is above the market cap, it implies a warning sign that the price may decrease. As of this writing, Ondo’s market cap is $1.70 billion. Furthermore, the fact that the Realized Cap is lower paves the way for the price to continue its bullish path.
Read More: How To Invest in Real-World Crypto Assets (RWA)
Tokens Continue to Leave Circulation
As the metric above increases, the Mean Coin Age takes the opposite direction. Often called by its short form, the MCA tracks the average age of all tokens on the blockchain. With the MCA, one can tell if trading activity around a token increases or if holders are sticking to keep it out of circulation.
According to Santiment, the 90-day MCA has plummeted as of this writing. This means that ONDO holders are refraining from sending tokens into exchanges. Instead, they seem committed to keeping them in self-custody.
If sustained, ONDO’s price can begin to run past its all-time high, and the $2 prediction being talked about in the market may come to pass.
Outside of the price action, the Total Value Locked (TVL) continues to reach new highs. Based on DeFiLlama’s data, Ondo’s TVL is $549.18 million. This is an 18.32% increase within the last 30 days.
TVL measures a protocol’s health by gauging the value of locked or staked assets. An increase implies that market participants are depositing more liquidity with hopes of a good yield, which is the case with Ondo.
If the TVL falls, it means that participants are withdrawing their assets as perceived trust for the project wanes. However, it is unlikely that the value of locked assets will plummet, especially as interest from traditional institutional investors continues to climb.
ONDO Price Prediction: Is a 15% increase Next?
Alongside the rising TVL, technical analysis shows that ONDO’s price is eyeing further gains. One reason for this forecast is the Exponential Moving Average (EMA), a technical tool designed to track a cryptocurrency’s price trend over a given period.
Some of the most important timeframes include the 20 EMA, 50 EMA, and 200 EMA. The daily ONDO/USD chart shows that the price is $1.20, trading above the 20 EMA (blue). This is a bullish sign for the token and may ensure the ONDO’s price does not fall below $1.19.
The token also trades above the 50 EMA (yellow), indicating that the cryptocurrency’s trend may give in to the upside in the short term. Should this be the case, ONDO’s first target will be a 15% increase to $1.39.
Afterward, it may move to break through the all-time high at $.1.48 if whales decide to buy as they did in the past.
Read More: Real-World Asset (RWA) Backed Tokens Explained
In the event that the price slides below the aforementioned EMAs, the prediction will be invalidated. If this happens, ONDO may drop to $1.07, setting the stage for a 12% decrease.
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.
Market
GOAT Price Sees Slower Growth After Reaching $1B Market Cap
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
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.
Market
Ripple (XRP) Price Hits 109% Monthly Gain as Indicators Weaken
Ripple (XRP) price has experienced a significant rally, rising 51.33% in the last seven days and an impressive 109.09% over the past month. This strong momentum has propelled XRP into a bullish phase, with key indicators like EMA lines supporting its upward trajectory.
However, signs of weakening momentum, such as a declining RSI and negative CMF, suggest that caution may be warranted. Whether XRP continues to push higher or faces a steep correction will depend on how the market reacts to these shifting dynamics.
XRP RSI Is Below The Overbought Zone
XRP’s RSI has dropped to 60 after nearly hitting 90 on November 16 and staying above 70 between November 15 and November 17.
This decline indicates that Ripple has moved out of the overbought zone, where intense buying pressure previously drove its price higher. The drop suggests that the market is cooling off, with traders potentially taking profits after the strong rally.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 60, XRP’s RSI reflects a still-positive momentum but shows a more balanced sentiment compared to the previous surge.
While the uptrend remains intact, the lower RSI could indicate a slower pace of gains, with the possibility of consolidation as the market stabilizes. If buying pressure returns, XRP price could extend its upward movement, but a further decline in RSI might signal a weakening bullish momentum.
Ripple CMF Is Now Negative After Staying Positive For 14 Days
XRP Chaikin Money Flow (CMF) is currently at -0.12, after showing positive levels between November 5 and November 19. That is also its lowest level since October 31. This shift into negative territory reflects increased selling pressure and a potential outflow of capital from the asset.
The transition from positive CMF values earlier this month signals a weakening in bullish momentum as more market participants reduce exposure to Ripple.
The CMF measures the volume and flow of money into or out of an asset, with positive values indicating capital inflow (bullish) and negative values showing capital outflow (bearish).
XRP’s CMF at -0.12 suggests that bearish sentiment is beginning to gain traction, potentially putting pressure on its price despite the recent uptrend. If the CMF remains negative or declines further, it could indicate sustained selling pressure, challenging Ripple’s ability to continue its upward movement.
Ripple Price Prediction: Biggest Price Since 2021?
XRP’s EMA lines currently display a bullish setup, with short-term lines positioned above the long-term lines and the price trading above all of them.
However, the narrowing distance between the price and some of these lines suggests a potential slowdown in bullish momentum. This could signal that the uptrend is weakening, leaving XRP price vulnerable to a shift in market sentiment.
If a downtrend emerges, as indicated by the weakening RSI and negative CMF, Ripple price could face significant pressure and potentially drop to its support at $0.49, representing a substantial 56% correction.
On the other hand, if the uptrend regains strength, XRP could climb to test the $1.27 level and potentially break through to $1.30, which would mark its highest price since May 2021.
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.
Market
Trump Media Files Trademark for Crypto Platform TruthFi
Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing.
The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.
Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year.
However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social.
The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter).
Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees.
“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter).
As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week.
Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.
Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance.
Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion.
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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