Loopring (LRC) Price Prediction 2022 — Will LRC Hit $3 Soon?

• Bullish LRC price prediction is $0.5139 to$1.0929.
• Loopring (LRC) price might also reach $3 soon.
• Bearish LRC price prediction for 2022 is $0.3187.

In Loopring (LRC) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about LRC to analyze the future movement of the cryptocurrency. 

Loopring (LRC) Current Market Status

According to CoinGecko, the price of Loopring (LRC) is $0.326239 with a 24-hour trading volume of $45,190,280 at the time of writing. However, LRC has increased by nearly 2.5% in the last 24 hours. 

Moreover, Loopring (LRC) has a circulating supply of 1,245,991,468 LRC. Currently, Loopring (LRC) trades in cryptocurrency exchanges such as Binance, OKX,DigiFinex, Coinbase Exchange, WhiteBIT.

What is Loopring (LRC)?

Loopring (LRC) is the native utility token of Loopring. Loopring is an open-source, layer 2 (L2) exchange and payment protocol launched on Ethereum. LRC was launched in 2017 as an ERC-20 token. Loopring includes smart contracts that deploy zero-knowledge (zK) rollups.

In zero knowledge rollups, the blockchain transactions, especially the off-chain transactions, are validated onto Ethereum. With zK rollups, Loopring scales low-cost transactions on Ethereum with high throughput rates. Loopring also has a native decentralized exchange (DEX) that supports non-custodial orderbooks.

Loopring (LRC) is used as trading fees on the native DEX. It also grants users governance rights in the Loopring DAO.

Loopring (LRC) Price Prediction 2022

Loopring (LRC) holds the 100th position on CoinGecko right now. LRC price prediction 2022 is explained below with a daily time frame.

The above chart of Loopring (LRC) laid out a Descending Channel. Descending channel  also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.

Currently, Loopring (LRC) is in the range of $0.3259. If the pattern continues, the price of LRC  might reach the resistance levels of  $0.6520, $1.3520 and $2.4090. If the trend reverses, then the price of LRC may fall to $0.3260.

Loopring (LRC) Support and Resistance Levels

The chart below shows the support and resistance levels of Loopring (LRC).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Loopring (LRC).

Resistance Level 1	$0.5139
Resistance Level 2	$0.7323
Resistance Level 3	$1.0929
Support Level	$0.3187

 

The charts show that Loopring (LRC) has performed a bullish trend over the past month. If this trend continues, LRC might run along with the bulls overtaking its resistance level at$1.0929

Accordingly, if the investors turn against crypto, the price of Loopring (LRC) might plummet to almost   $0.3187 , a bearish signal.

Loopring (LRC) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Loopring (LRC) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of LRC lies below the cutoff line, indicating weak participants in the current trend.

Also, the Moving Average (MA) of Loopring (LRC) is shown in the chart above. Notably,  Loopring (LRC) price lies below 50 MA (short-term), so it is in a downtrend. Currently, LRC has entered a bearish state. Therefore, there is a possibility of a reversal trend of LRC at any time.

Meanwhile, the relative strength index (RSI) of the LRC is 37.55. This means that Loopring (LRC) is in an oversold state. However, this means a major price reversal of LRC may occur in the upcoming days. So, traders need to trade carefully.

Loopring (LRC) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Loopring (LRC). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of Loopring (LRC). Currently, the ADX of LRC lies in the range of 13.2005 and thus, it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of Loopring (LRC). RVI measures the constant deviation of price changes over a period of time. The RVI of LRC lies below 50, indicating low volatility. In fact, the RSI of Loopring (LRC) is at 37.55 thus confirming a potential buy signal.

Comparison of LRC with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Loopring (LRC).

From the above chart, we can interpret that the price action of LRC is similar to BTC. This indicates that when  the price of  BTC  increases or decreases, the price of LRC also increases or decreases respectively.

Loopring (LRC) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Loopring (LRC) might probably attain $5 by 2023.

Loopring (LRC) Price Prediction 2024

With several upgrades in the network, Loopring (LRC) might enter a bullish trajectory. If the coin grabs the attention of major investors, LRC might rally to hit $7 by 2024. 

Loopring (LRC) Price Prediction 2025

If Loopring (LRC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, LRC would rally to hit $9.

Loopring (LRC) Price Prediction 2026

If Loopring (LRC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, LRC would rally to hit $11.

Loopring (LRC) Price Prediction 2027

If Loopring (LRC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, LRC would rally to hit $13. 

Loopring (LRC) Price Prediction 2028

Loopring (LRC) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, LRC would hit $15 in 2028.

Loopring (LRC) Price Prediction 2029

If investors flock in and continue to place their bets on Loopring (LRC), it would witness major spikes. LRC might hit $17 by 2029.

Loopring (LRC) Price Prediction 2030

With greater advancements in the ecosystem, the crypto community might continue to invest in LRC for the next 8 years and drive significant price rallies for the token. Hence, Loopring (LRC) might hit $19 by 2030.

Conclusion

With continuous improvements in the Loopring network, we can say that 2022 is a good year for LRC. For this reason, the bullish price prediction of Loopring (LRC) in 2022 is $1.0929. On the other hand, the bearish price prediction of Loopring (LRC) price prediction for 2022 is $0.3187.

Furthermore, with the advancements and upgrades to the Loopring ecosystem, the performance of LRC would help to reach above its current all-time high (ATH) of $3.75 very soon. But, it might also reach $3 if the investors believe that LRC is a good investment in 2022.

FAQ

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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