Ondo price breaks $0.30 resistance amid RWA growth, can it revisit January highs?

Ondo price surged above $0.30 after a JPMorgan-Mastercard tokenized Treasury pilot and strong Q1 growth pushed TVL to $3.53 billion.

According to data from crypto.news, Ondo (ONDO) climbed to an intraday high near $0.40 on May 8 before slightly easing to around $0.39 at press time. The token has now gained more than 50% over the past week, making it one of the strongest-performing major RWA-focused assets during the period.

The latest rally comes amid a series of major institutional developments tied to Ondo’s tokenized treasury products.

One of the biggest catalysts was the successful completion of a cross-border institutional settlement pilot involving Ondo, JPMorgan’s Kinexys, Mastercard, and Ripple. The pilot demonstrated the redemption and settlement of tokenized U.S. Treasuries using blockchain infrastructure, with the asset leg reportedly finalized in under five seconds on the XRP Ledger.

The development strengthened investor confidence that tokenized financial products are gradually moving closer to real-world institutional adoption.

ONDO also benefited earlier this week after being selected for the Depository Trust & Clearing Corporation’s Industry Working Group, an initiative focused on exploring how tokenization could modernize capital markets infrastructure. The DTCC currently processes transactions worth quadrillions of dollars annually across global financial markets.

Strong fundamentals also helped sustain the rally. Ondo recently reported $13.26 million in Q1 revenue, while total value locked climbed to roughly $3.53 billion, reflecting continued growth across its tokenized asset ecosystem.

At the same time, anticipation surrounding Ondo’s planned expansion to the Solana ecosystem, including the launch of more than 200 tokenized stocks and ETFs, has further supported bullish momentum.

Ondo price analysis

On the daily chart, ONDO has now broken above the major horizontal resistance zone near $0.30, a level that capped multiple recovery attempts since February. The breakout followed several months of sideways consolidation between roughly $0.24 and $0.30, suggesting that buyers gradually absorbed selling pressure before the latest move higher.

The rally also pushed price well above the Supertrend resistance level, with the indicator now beginning to flip bullish after remaining in a bearish structure for months.

Meanwhile, the Aroon Up indicator has surged to 100%, while the Aroon Down has dropped toward 35%, signaling strengthening bullish momentum and a possible shift in broader trend direction.

However, momentum indicators also suggest the rally may be overheating in the short term. ONDO’s Relative Strength Index recently climbed above 81, indicating heavily overbought conditions that could trigger temporary profit-taking or volatility after the sharp move higher.

If bulls maintain control above the $0.30 breakout zone, the next major upside target could emerge near $0.47, which marks the January local high and a key resistance region from the broader downtrend structure.

On the downside, losing the newly reclaimed $0.30 support level could weaken the breakout structure and potentially trigger a pullback toward the $0.24 consolidation range.