Top 3 Real World Assets (RWA) Coins By Market Cap: Stellar, Chainlink, and Ondo

XLM gained the most in July; the XLM launched at around 27 USD and shot to above 55 USD in the middle of the month, then retraced to the 38-45 USD range.

LINK cooled off after reaching roughly 20; Chainlink moved to nearly 20 then back down to roughly 16, but it is imperative we hold the 15 area to dictate the next move.

ONDO is positioned on support. Ondo has breached the $1.00 mark and reached as high as just below $1.15 but dipped to the current price of around 0.88 US dimes.

RWA coins have been performing very well in the last month, with Stellar, Chainlink, and Ondo being some of the best performers in terms of market capitalization. All of these RWA coins have seen substantial price moves with a strong rally in early July and a subsequent consolidation or even reversal. Investors in the market still monitor these products very closely as they adjust to the dynamics within the market and on specific projects.

Stellar (XLM) Higher Ground After a Stellar July Rally

Stellar (XLM) started a new month at almost $0.27, and its market cap stood at less than $8 billion. The action in the buying started to ramp up early in the month and ramped up inventively just before July 10 as the price soared above 0.50. In the middle of July, XLM rose to more than $0.55, and the market capitalization was close to $16 billion.

After the rally, XLM proceeded to engage in a flat that existed between 0.38 and 0.45 dollars. The market capitalization remained above 12 billion dollars, which indicated that most of the gains were not exhausted. This lateral trend was able to steady the market following the sudden spiking in the right direction.

At the end of July, XLM experienced a weak trading session and declined to the level of $0.38, and its market cap reduced to around $11 billion. Although the short-term bullish impetus continued to decrease, the price has not fallen back to the initial levels of July yet. Developments in volume and overall market sentiment will decide whether or not XLM will be able to climb back towards its higher levels in the middle of the month.

Chainlink (LINK) Cooled Off After Crashing 20 in mid-July

Chainlink (LINK) had a July opening of around 13 dollars, and its market cap was slightly above 9 billion dollars. The price was above 18 already mid-month due to the early gains. The rally compounded until July 2021, when LINK topped out at 20 dollars and had a market cap of nearly 14 billion dollars.

The trading range of LINK between the post-peak and pre-peak ranges was between $18 to $20. This sideways fluctuation was a sign that there was an attempt to stabilize following massive gains. Volume trading continued to be stable, and market participation is still alive without reaching new highs.

In early August, the price of LINK had fallen to 15.97 with a market cap of a bit more than 11 billion. The correlations are showing a slide since July's high levels, signaling diminished bullish forces and profit taking. Breaking the resistance above $15 will be critical to LINK in case it seeks another stretch higher in the short term.

Ondo (ONDO) is at a crucial support level following a massive run in the middle of the month of July.

Ondo (ONDO) opened in July at around the 0.75 mark and has a market cap of just under 2.5 billion. At first, the price/market cap was stable, and then a strong counter-trend move was seen around July 9, scoring the price above 0.90 and the market cap above 2.8 billion. This impetus continued to see a rally that gained pace mid-July.

ONDO rallied between the 19th and 21st of July, surpassing $1.00 and reaching almost $1.15 and a market cap of nearly $3.5 billion. The trend of the move was characterized by increasingly higher highs and higher lows. The price behavior in this period was very bullish, and there was buying eagerness.

August began very sluggishly as ONDO fell to a low of 88c and the market cap to below 3B. The support range of $0.85 - 0.88 has become important near-term support. A reversal of these could take ONDO to retest the price at least 0.5 cents, or a plunge in price could indicate further consolidation.