Raydium Coin (RAY), a leading protocol in the Solana DeFi ecosystem, is gaining momentum after surpassing a key resistance level at $2.30. As of now, the token is trading around $2.45, up more than 10% in the last 24 hours, landing it among the top gainers on CoinMarketCap today.
A combination of technical breakout confirmation, record-high application revenue share, and strong ecosystem catalysts, including LaunchLab, BonkFun, and the ongoing memecoin boom on Solana, is driving the surge.
Why Raydium Crypto Price is Going Up
Raydium just posted its highest-ever share of cumulative DeFi application revenue, according to data from DefiLlama and Blockworks. This indicates that Raydium is now capturing more protocol-level value than ever before, outperforming competitors such as PancakeSwap and Phantom.
Raydium’s total value locked (TVL) also spiked to $1.76B, marking a 12% increase over the past week, confirming renewed trust and participation in its liquidity pools and yield-generating strategies.
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The rally is also being powered by LetsBonk, which has overtaken Pump.fun as Solana’s dominant memecoin launchpad. On July 9, LetsBonk minted over 22,000 tokens, accounting for more than 50% of all memecoin launches that day.
Because all tokens minted through LetsBonk are listed automatically on Raydium’s AMM, this has led to a sharp increase in swap fees and validator rewards.
According to Solana enthusiast Ayda (@defi_ayda), 35% of LetsBonk launch fees are used for BONK buybacks; however, trading activity still massively benefits $RAY.
LaunchLab, Raydium’s launchpad, charges a 1% bonding curve fee, with 25% of that fee allocated to RAY buybacks, thereby tightening the circulating supply and adding buy pressure.
RAY Price Prediction: Breakout Confirmed
From a technical perspective, Raydium coin has broken out decisively above $2.30, a psychological and historical resistance level. Trading volume surged over 115% in the past 24 hours to hit $149.5 million, reinforcing the breakout.
The Relative Strength Index (RSI) is rising to 66.88, showing a shift from neutral to bullish conditions. RAY is staying well above the 50-day Exponential Moving Average (EMA) of $2.15. The 30-day and 50-day EMAs have crossed over. The next resistance levels to watch are $2.56, which is the 23.6% Fibonacci level, and the psychological barrier at $3.
If momentum holds and memecoin-driven volume continues to flow through the Raydium Protocol, analysts suggest that the Raydium coin could target $3.00–$3.25 in the short term. It could also reach between $4.00 and $4.50 in the near term if TVL and launch activity continue to rise into Q3.
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