Date: Wed, June 11, 2025 | 05:38 AM GMT
The cryptocurrency market has staged an impressive rebound this quarter, with Ethereum (ETH) leading the charge. After climbing over 53% in Q2, ETH is now trading near $2,800, having recently touched a high not seen since February. The renewed momentum is sparking interest across the altcoin space.
One of the top Real World Asset (RWA) tokens, Ondo (ONDO), has joined the bounce. While ONDO is back in the green on the weekly chart, it still lags on the monthly time frame. But a new fractal pattern spotted on the chart might be signaling that ONDO is setting up for a much larger upside breakout.
Fractal Pattern Suggests ONDO Is Following XRP’s Footsteps
According to the latest insights shared by prominent crypto analyst Osemka, ONDO’s recent price movement is showing strong similarities to XRP’s late 2023 breakout structure.
In both charts, we can see a five-wave accumulation phase, followed by a deviation below the support and a sharp recovery. ONDO, like XRP back then, has reclaimed a crucial level and is now pushing toward a breakout from a descending trendline.
- Wave Count (1 to 5): Both assets displayed a similar Elliott Wave-style build-up before the move.
- Deviation Below Support: Each experienced a deep wick below structure, trapping sellers.
- Reclaim + Expansion: XRP broke out strongly after reclaiming the key support with a powerful expansion move. ONDO just made a similar “important reclaim,” setting the stage for a potential breakout.
What’s Next for ONDO?
If this fractal continues to play out like XRP’s did, ONDO could be preparing for a strong upside expansion. A breakout above the descending trendline and confirmation of bullish structure could bring in higher targets in the short to medium term.
However, investors should keep an eye on volume growth and broader market conditions. A failure to hold the reclaimed support zone could invalidate the bullish setup.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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