RAY Price Explodes on Upbit Listing, Whales Pocket Profit: Is It Too Late?

While the broader crypto market showed a slow movement, Raydium RAY $2.26 24h volatility: 10.0% Market cap: $603.54 M Vol. 24h: $456.54 M recorded a 9.5% surge in its value in the past day. This comes as South Korea’s largest exchange, Upbit, announced that it will support trading for the token from today.

레이디움(RAY) KRW, USDT 마켓 거래지원 안내

✅ 지원 마켓 : KRW, USDT 마켓
📅 거래지원 개시 시점: 2025-06-19 12:00 KST 예정

🔗 공지 바로가기:https://t.co/jXeEDyP9zl#Upbit #RAY@RaydiumProtocol pic.twitter.com/kONvy7dNwA

— Upbit Korea (@Official_Upbit) June 19, 2025

According to the announcement, RAY trading officially opens at 12:00 PM KST with KRW and USDT pairs.

Raydium, an automated market maker (AMM) and liquidity protocol, saw a rapid price increase of over 25% to $2.62 after the listing news broke. However, the price has since corrected to around $2.28 at the time of writing.

RAY has also seen a sharp rise in market capitalization, gaining nearly $60 million in just 24 hours. The surge pushed the Solana-based token into the top 100 cryptocurrencies by market cap, currently ranking 99th with a cap of $607 million.

Whale Activity Hints at Profit-Taking

Notably, the listing announcement drove a 500% spike in RAY’s 24-hour trading volume to reach $371 million, according to CoinMarketCap. The volume attracted traders looking to capitalize on short-term gains.

One whale deposited 906,788 RAY, worth around $2.26 million, into Binance following the price pump. Lookonchain noted the transaction, suggesting a profit-taking move.

The price of $RAY surged by nearly 25% due to its listing on Upbit.

Whale 256Eh2 deposited 906,788 $RAY($2.26M) into #Binance after the pump, possibly to sell.https://t.co/F6UVfMuEVk pic.twitter.com/x03YR48yfl

— Lookonchain (@lookonchain) June 19, 2025

RAY Price Outlook

On the daily RAY price chart, the MACD line has crossed just above the signal line at the zero level, hinting at a potential bullish reversal. However, the histogram remains flat, reflecting weak momentum.

Bollinger Bands show a sharp breakout above the lower band and toward the middle band (20-day SMA) at $2.24. The current price action suggests indecision, with the upper band at $2.56 acting as dynamic resistance. A break above this level could confirm bullish continuation.

The RSI has climbed TO 45, indicating recovery from the recent low of $1.94. The upward gradient suggests bullish momentum and more upside room, but with caution.

Failure to hold $2.24 may send RAY back toward the key support at $1.93. Popular crypto analyst Leandrocrypto recently stated that this level would act as a strong buying zone.

The analyst explained that a bullish scenario with strong volume could send the cryptocurrency to test $3.42 resistance, setting a price target of $7.27 in the long term.

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