ONDO’s TVL hit new ATH with Ripple partnership – Will prices follow?

• Ondo Finance launches tokenized US Treasuries (OUSG) on the XRP Ledger — enabling 24/7 access through RLUSD.
• ONDO hits new All-Time high in TVL as its price charged toward the $1 mark with XRP also seeing modest gains.

Ondo Finance [ONDO] continued to lead in the Real World Asset space with its recent partnership with Ripple’s XRP Ledger to enable 24/7 access through the RLUSD stablecoin.

ONDO partners Ripple as TVL hits new high

The partnership of Ondo Finance and Ripple has seen the tokenization of the U.S. Treasuries cross stay at the XRP Ledger with 24/7 get right of entry to and redemption in RLUSD.

The mixing was enabled via the BUIDL fund, a BlackRock initiative, making ONDO the hub of institutional DeFi infrastructure.

But this was not merely a story game — this was operational capital investment in the quest of scalable income. ONDO sprang a new all-time high on its Total Value Locked of $1.368B.

This was more than $20 million in additional growth since the previous milestone.

Source: DefiLlama

The market cap was equal to $2.824 billion, and the daily volume was $167.02 million. The revenue was less impressive though — annualized fees stood at $54.24 million.

The platform revenue was $11.69 million as holders continued to get in revenue share.

That was indicative of the growth momentum in ONDO but also indicative of the absence of direct holder returns, which may become an issue as the sector matures.

Nevertheless, as the XRPL integration went live and the TVL was increasing, the strategy of ONDO proved to bring results. This was in terms of bringing real-world assets to DeFi rails.

The extent to which it can maintain this rate will relate to its success in balancing institutional attractiveness with community incentives.

How will the prices react?

Technically, ONDO kept increasing along the trendline, and the support as it approached the $0.867 area. The price was circling around $0.88 and indication of pressure was seen as price retested trendline.

Provided this support beneath ONDO held, it may rebound back to the $0.90 area and even come a second time to challenge the swing high at around $0.98.

Nevertheless, a decrease to the levels under $0.867 could result in the pullback to $0.84 or even deeper.

The MACD indicated a deteriorating bullish trend, with the MACD line falling below the signal line ($0.0053) and heading into negative territory.

This reversal indicated possible near term weakness unless momentum could get restored.

Source: Trading View

The trend structure was intact in the meantime, though a confirmed break below the rising support would turn the sentiment bearish. The traders may observe $0.867 and $1 as directional validation areas.

Meanwhile, the price of XRP on the other hand saw modest gains in the last 24 hours while maintaining its stay around the $2.30 zone.

This stressed that the partnership did not have direct impact on prices of the crypto in the short-term but would in the long-term.