Raydium’s native token, RAY, is extending its recent rally, driven by a protocol buyback, higher trading volumes, and renewed investor interest in the Solana-based decentralized exchange. The token’s price action remains constructive as it holds above key technical levels, while traders watch whether LaunchLab activity can fuel further upside.
Buyback Mechanism Adds Direct Market Demand
On September 9, Raydium implemented a buyback program that directs 12% of protocol commissions toward RAY purchases. This mechanism ties the platform’s operating activity directly to token demand, channeling a portion of trading revenue back into the market. The buyback also reduces the available token float, which can support Raydium’s incentive structure over time.
As trading activity increases, the protocol generates more fees, and a share of those fees returns to the market as buyback demand. This self-reinforcing cycle has been particularly visible in recent days, with daily RAY trading volume running about 43% above its 30-day average.
LaunchLab Activity Adds Momentum
Beyond the buyback, Raydium’s LaunchLab platform is contributing to renewed interest. Earlier this month, StonkFun migrated new token deployments to Raydium’s LaunchLab, a shift that directs more trading activity and liquidity through Raydium’s infrastructure. According to information cited by BeInCrypto, the migration reduced deployment costs from 0.29 SOL to 0.03 SOL.
In addition, more than 15 tokenized US equities entered the broader Raydium-linked trading ecosystem. These developments expanded on-chain activity as RAY moved higher, eventually reaching an 11-month high near USD 1.75 on September 11.
Technical Signals Keep Buyers in Control
RAY/USD is currently holding above immediate support near the Ichimoku Kijun level at USD 1.3616. Maintaining this area preserves the short-term recovery structure. A decisive break below it could expose lower levels within the current forecast range.
Momentum indicators remain broadly positive. MACD and ADX are in buy territory, RSI sits in a neutral-to-bullish zone, and CCI points to sustained buying pressure. Intraday Bull/Bear Power also shows buyers are in control. However, Stochastic RSI is neutral, and the Awesome Oscillator has not provided additional confirmation of the uptrend. Price is currently trading near the day’s low, creating a short-term divergence between technical readings and intraday performance.
The first major upside hurdle stands near USD 1.50. A decisive break above that level could bring the September highs around USD 1.75 to USD 1.79 back into focus.
Price Forecast Depends on Sustained Activity
Over the next two to three trading days, RAY/USD is expected to trade between USD 1.2674 and USD 1.7125. The forecast assigns a 70% probability to a higher move, while the baseline case favors consolidation within that band.
If buyers clear resistance, price could accelerate toward the upper boundary of the forecast range. Conversely, a break below immediate support could trigger retests of lower levels within the same zone.
The key question is whether higher LaunchLab activity can keep feeding the buyback cycle long enough to sustain the rally. Continued trading volume would generate more fees and support further RAY purchases. If activity weakens, that automatic source of demand could diminish, leaving RAY more exposed to profit-taking following its sharp September advance.
Broader Solana performance and overall crypto market risk appetite will also shape RAY’s next move. For now, trading activity, buyback demand, and support near USD 1.3616 remain the main factors influencing short-term price action.
