Arbitrum's native token ARB experienced a significant price surge, reaching a two-week high and posting gains of up to 46% intraday. The recent rally appears driven primarily by rumors of a potential partnership with Robinhood, aiming to build a blockchain platform enabling European investors to trade U.S. stocks onchain.
The token’s price climbed to approximately $0.38, pushing its market capitalization above $1.7 billion to nearly $2 billion in some reports, making ARB the 60th-largest cryptocurrency and outperforming several established altcoins such as Render (RENDER), Filecoin (FIL), and Algorand (ALGO).
Adding to the positive sentiment, prominent crypto figures including Ethereum co-founder Vitalik Buterin and A.J. Warner (CSO of Offchain Labs, which governs Arbitrum) are scheduled for a fireside chat hosted by Robinhood Europe, fueling speculation of major announcements. Binance also contributed positive momentum by adding the ARB/USDC trading pair to its Trading Bots section, although this is regarded as a minor factor.
On-chain data shows a sharp increase in daily active addresses and social sentiment shifting bullish, while trading volumes surged over 450%, with $658 million worth of ARB tokens trading in 24 hours. Derivatives activity also increased by 42%, with a favorable long/short ratio indicating leveraged traders’ bullish stance.
Technical analysis highlights that ARB is nearing a breakout from a long-standing falling wedge pattern dating back to early 2024. The token currently trades above its 50-day exponential moving average, with momentum indicators such as the MACD turning positive and the Aroon Up indicator signaling a strong uptrend.
Despite the optimism, the Relative Strength Index (RSI) has climbed above 80, traditionally a warning of overbought conditions and a potential short-term price pullback. Analysts suggest support zones in the $0.32 to $0.34 range for possible entry points, while breakout targets include $0.50, $0.75, and potentially $1, representing substantial upside if the bullish momentum sustains.