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Place oven rack in the middle shelf of the oven. Preheat oven to 350 degrees. Grease a standard bundt cake pan with cooking spray and set aside.
In a medium bowl, whisk together the flour, baking powder, and salt. Set aside.
In a separate bowl, using the whisk attachment of a handheld mixer or stand up mixer, whisk the 4 egg whites until soft peaks form. Set aside.
In a large bowl, cream together the 4 egg yolks, sugar, mascarpone, olive oil, orange zest, orange juice, and vanilla, until well combined. Stir in the flour mixture until combined. Using a rubber spatula, fold in the beaten eggs whites and candied orange peel until just combined in the batter and no white spots remain.
Pour the batter into the prepared bundt cake pan. Use a spatula to smooth down the top. Bake for 40 to 45 mintues or until a toothpick inserted in the ciambella comes out clean. Cool on a wire baking rack for 10 minutes before removing ciambella from pan and cooling completely.
To make the orange glaze, in a medium bowl stir together the powdered sugar, orange juice and orange zest. Drizzle the glaze over the cooled ciambella and a sprinkle with candied orange peel.