- Jupiter(JUP) price surged 15.45% to $0.6109 following the launch of Jupiter Lend.
- Jupiter Lend introduces 90% LTV and 0.1% fees, setting a new standard in DeFi.
Jupiter (JUP) has rallied impressively, trading at $0.6109 after reaching a high of $0.6223. The price surged 15.45% in the past day, aligning closely with its market cap growth of 15.44%, pushing total valuation to $1.77 billion.
At the same time, daily volume exploded by 254.44%, touching $179.65 million. The market cap ratio stands tall at 10.12%, a clear indication of increasing market activity and investor interest.
The token supply metrics remain consistent, with 2.89 billion JUP in circulation out of a 6.99 billion total and 10 billion max supply. This price spike closely followed the announcement of Jupiter Lend at the Solana Accelerate conference on May 23.
With up to 90% loan to value and fees as low as 0.1%, the lending protocol significantly improves existing DeFi standards. Notably, its composability and dual-protocol structure ensure scalability and flexibility. The market responded swiftly.
Is JUP Gearing Up for a Bullish Continuation?
On the technical front, JUP price dynamics reveal essential signals. The RSI currently stands at 63.24, nearing overbought territory, while the RSI-based moving average hovers at 52.72. This divergence suggests strengthening bullish momentum. Additionally, the 9 EMA recently crossed above the 21 EMA, forming a golden cross at $0.5732, signaling a probable continuation of the uptrend.
The volume spike around the price breakout confirms strong buying pressure. Although the price briefly retraced, it quickly reclaimed ground above key EMAs. These moving averages now serve as dynamic support near the $0.573–$0.567 zone.
A sustained break above the $0.622 resistance could push the price toward $0.650 in the short term. Conversely, a drop below $0.573 might send it to retest $0.540, the recent support floor. While the Chaikin Money Flow (CMF) isn’t visible in the chart, the surge in volume and price suggests positive accumulation.
