ONDO climbs 17% in a week as $55M 21Shares purchase signals institutional demand

Ondo Finance's ONDO token has rallied 17% this week as a $55 million institutional purchase by 21Shares pushed the real-world asset token toward a critical breakout level near $0.46.

ONDO traded at $0.405 as of 14:00 UTC on Thursday, up from $0.346 a week earlier, according to CoinGecko. The token briefly touched $0.42 during the session before pulling back, with the $0.45-$0.46 zone representing the last major resistance before a potential move toward $0.50 and $0.58.

Blockchain data shows 21Shares acquired 12.78 million ONDO tokens, valued at approximately $55.14 million, from the OKX exchange. The purchase ranks among the largest single institutional ONDO accumulations in recent months and coincides with a broader improvement in market structure. Ondo Finance tokenizes short-term US Treasuries and other regulated financial assets, offering on-chain yield through products such as its tokenized Treasury fund.

The token has broken above a descending trendline that had capped every recovery attempt since May, according to CoinGecko data. Buyers have defended higher lows above the 20-day, 50-day and 100-day exponential moving averages, with the 200-day EMA near $0.378 now acting as immediate support. The daily relative strength index sits near 56, retreating from overbought territory but remaining above the neutral 50 level.

Cup-and-Handle Setup Points to $0.70 Target

ONDO's weekly chart is approaching confirmation of a cup-and-handle pattern, a bullish formation that projects a measured target of $0.70-$0.72. The cup began forming after the token declined from roughly $0.45 in late 2025 toward the $0.21-$0.23 range in March 2026, followed by a gradual recovery back toward the $0.42-$0.45 region. The handle formed between May and July as the token consolidated in a descending channel, with buyers repeatedly defending the $0.30-$0.32 area.

The pattern's neckline sits between $0.42 and $0.46, reinforced by the 50-week EMA near $0.464. A decisive weekly close above this zone would confirm the breakout and open the path toward the 100-week EMA near $0.62 before the measured target at $0.70-$0.72, representing roughly 75% upside from current levels. On the downside, a rejection from the neckline could pull ONDO back toward $0.34, while a weekly close below $0.30 would weaken the bullish setup and expose the $0.25-$0.26 range.

Institutional Momentum Builds in RWA Sector

The technical breakout has been accompanied by growing institutional engagement with Ondo Finance's tokenized-securities infrastructure. Last week, Ondo participated in DTCC production transactions involving DTC-tokenized assets and launched tokenized versions of Circle shares and the SPDR S&P 500 ETF, called CRCLon and SPYon, respectively. The company also partnered with Japan's SBI Group to explore tokenized Japanese equities and expand Ondo products across SBI's ecosystem.

During the Ondo Summit, BlackRock's Samara Cohen described Ondo's tokenization framework as the industry's "gold standard," according to reports. While the remarks do not represent a formal partnership, they reinforce Ondo's credibility among traditional financial institutions exploring blockchain-based distribution for regulated assets.

The convergence of institutional accumulation, improving technical structure and growing adoption of tokenized real-world assets creates a constructive setup for ONDO. The next decisive move depends on whether buyers can overcome the $0.46 resistance zone — a level that has rejected multiple rallies since May. A confirmed breakout would shift focus toward $0.50 and $0.58, while continued institutional participation could provide the momentum needed to sustain the rally.

This article is for informational purposes only and does not constitute investment advice.