ONDO (ONDO) 24-hour amplitude 20.1%: OndoFinance price rebounds driven by successful pilot with Ripple/JPMorgan/Mastercard

Volatility Brief

In the past 24 hours, ONDO's price rebounded from a low of $0.3088 to a high of $0.3708, currently at $0.3705, with a fluctuation of 20.1%. The 24-hour trading volume is around $202 million, significantly larger than the previous day.

Brief Analysis of the Cause of the Movement

- Ondo Finance, together with JPMorgan’s Kinexys, Mastercard, and Ripple, successfully completed a landmark pilot transaction connecting the XRP Ledger with interbank settlements, directly driving the cumulative price increase of nearly 30% this week and extending the rebound within 24 hours.

- Major ONDO investors transferred 89.3 million tokens, but the price reaction was mild and did not trigger selling pressure.

Market Views and Outlook

The prevailing sentiment in the community is bullish. Several analysts have pointed out that ONDO rebounded strongly from the support level, with short-term targets ranging from $0.42 to $0.55, and even potentially as high as $0.80. Discussions on X platform highlight the breakout on the 4-hour chart and active buying, but also caution to watch the risk near the $0.30 support level.