ONDO Hits Record TVL With Ripple Backing—Will This Trigger a Price Breakout?

• The partnership enables seamless access to tokenized U.S. Treasuries via the RLUSD stablecoin, strengthening Ondo’s position in the Real World Asset (RWA) industry.
• Despite robust TVL growth, Ondo Finance’s annualized protocol fees stand at $54.24 million, with $11.69 million in revenue generated so far, raising concerns about the platform’s revenue model.

Ondo Finance, an emerging giant in the Real World Asset (RWA) industry, has hit another milestone in its development path, surpassing its all-time high Total Value Locked (TVL). This pump has been after its recent partnership with Ripple, which saw Ondo’s offerings integrated with the XRP Ledger (XRPL) and the ability to access them easily via the RLUSD stablecoin.

Ondo TVL Surges Amid Ripple Partnership

The collaboration is an important step in institutional decentralized finance infrastructure. By connecting tokenized U.S. Treasuries with XRPL, Ondo Finance now provides uninterrupted access and redemption through RLUSD. It shows a major effort to link traditional financial instruments with decentralized finance rails.

As per data by DeFiLlama, Ondo TVL has now topped $1.36 billion, representing an improvement of more than $20 million since the last milestone. This growth depicts a robust access of funds into the platform and also cements its status as a major force in the DeFi assets sector. The current market capitalization of the ONDO token is about $2.69 billion, and its daily volume stood at $172.05 million.

Source: DeFiLlama

Although the platform experiences solid asset growth, its revenue-generating capacity is average. Ondo is said to have annualized protocol fees of $54.24 million, and the platform has generated $11.69 million in revenue.

Such numbers indicate a continuous growth, but also reveal a gap between locked capital and direct returns to token holders. It may be an element of concern that will define the sentiment of users in the future.

What’s Next for Ondo Price?

Technical indicators have depicted ONDO in a smooth trend within its developed rising trendline. In the recent past, the token has been trading around the $0.88 mark with support at the $0.867 area. Analysts consider this area a possible inflection point; a successful test could see ONDO retest the $0.90 area, and eventually make a run at the prior swing high at $0.98.

The momentum indicators, however, give contradicting signals. Recently, the Moving Average Convergence Divergence (MACD) line has fallen below its signal line by 0.0053, and it is now in the negative. This changes to deteriorating bullish momentum, which could be the precursor to near-term pressure unless new demand re-enters the market.

Source: TradingView

A break below the $0.867 would indicate a further retracement to $0.84 or below. Thus, traders are monitoring this area, and a confirmed break below the trendline may change the sentiment that is currently bullish to bearish. The prior support at $0.867 and resistance at $1 are presently considered as the levels of directional bias in the near-term price behavior of ONDO.

With ONDO attracting institutional attention and developing real-life integration, the short-term price response is hanging in the air. In the meantime, Ripple’s XRP has been comparatively stable, trading at $2.24 with minimal increases in the last 24 hours.

This implies that the Ripple-Ondo integration, whereas being strategically relevant, has not directly affected the market valuation of XRP.

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