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JUP, the native token of Jupiter exchange, surged over 12% yesterday, making it one of the top-performing altcoins of the day. The price has continued its bullish momentum, climbing more than 2% in the past 24 hours. Meanwhile, trading volume has jumped over 60%, showing strong and ongoing interest from traders.
In Brief
- JUP jumped by more than 12% on Monday and remains bullish with a 2% rise in the last 24 hours.
- Trading volume has increased by over 60% as of the time of writing, showing strong trader interest.
- Technical analysis points to a bullish breakout and a possible move toward $1.
Jupiter’s New Lending Platform and Growing Ecosystem Drive Interest
The recent boost came after Jupiter announced on May 22 that it would launch a new product called Jupiter Lend. Powered by Fluid, a DeFi protocol, this lending platform is set to launch in the summer of 2025. The exchange shared a short video promising a high loan-to-value ratio of 95%. This strong feature could help push the price of JUP even higher. However, there are other wider factors at play too.
Just two days later, on May 24, Jupiter revealed that it had processed $2 trillion in volume on its platform. Users have executed 1.8 billion transactions and handled 7 million different assets. These numbers show the huge activity and growth happening on the Solana-based exchange. A rising ecosystem like this tends to build user trust and demand for the native token, which can help drive the price up.
Min Jung, an analyst from Presto Research, told Decrypt that the price rise isn’t due to a single event. Instead, a combination of factors is driving positive investor sentiment. One important reason is the Huma Finance token sale, which rewards those who stake Jupiter tokens and boosts demand for JUP.
He also mentioned that the renewed interest in meme coins is giving the market a lift. As these tokens gain attention and value, Jupiter could ride that wave of excitement.
Market Momentum and Bitcoin Rally Support JUP’s Price Rise
Bitcoin’s price has been on the rise lately, and that’s probably giving JUP a boost too. The crypto king is now worth more than $109,000, and some analysts believe it could reach $120,000 in the coming days. Usually, when Bitcoin moves up like this, other altcoins like JUP tend to go up along with it.
Looking at the charts, JUP’s price shows a clear story. From February to mid-April 2025, the token was stuck in a descending channel. Then in late April, the price broke out of that pattern, pointing to a possible change ahead.
Since then, JUP’s price has been moving sideways between about $0.45 and $0.57. This range suggests the market is pausing to decide the next move or accumulating tokens for a push higher.
The indicators are looking positive. The MACD line has formed a bullish crossover, and the histogram bars are rising. This confirms that buying momentum is strong and may continue unless it fades suddenly.
The Relative Strength Index (RSI) currently sits around 66.7, which is close to the overbought level of 70. This means there is solid buying pressure but still room before a pullback is likely.
Technical Signals Point to Potential Move Toward $1
Many believe that after the breakout, JUP could push toward $1. Bitcoinsensus pointed out that JUP was the top performer of the week among the top 100 coins. It also noted that the token is forming a bullish inverse head and shoulders pattern, with a technical target of $1.05.
World Of Charts, another crypto analyst, shared on his X page that JUP is breaking crucial resistance and expects a move toward $1 after this breakout.
Arjun Vijay, founder of Giottus, also weighed in. He told Decrypt that Jupiter’s rise is driven by real growth, not hype. He pointed out that Solana’s total value locked has nearly doubled since April, boosting Jupiter’s trading volume. Unlike the meme coin frenzy in January, Vijay believes JUP’s rally is based on strong fundamentals.
If these fundamentals hold, they could push JUP’s price even higher. The potential approval of a Solana ETF could also be a major catalyst, offering institutional investors regulated access to Solana and ecosystem tokens like JUP. This influx of capital could boost market liquidity and trading volumes, especially on platforms like Jupiter, built on the blockchain.
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Ifeoluwa specializes in Web3 writing and marketing, with over 5 years of experience creating insightful and strategic content. Beyond this, he trades crypto and is skilled at conducting technical, fundamental, and on-chain analyses.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
