Loopring (LRC) Price Prediction 2023 — Will LRC Hit $1 Soon?

Loopring (LRC) Price Prediction — Will LRC Hit $5 Soon?
  • Bullish LRC price prediction is $0.3571  to $0.8617.
  • Loopring (LRC) price might also reach $1 soon.
  • Bearish LRC  price prediction for 2023 is $0.1874.

In Loopring (LRC) price prediction 2023, 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

Current Price $0.343298
24 – Hour Trading Volume $136,696,239
24 – Hour Price Change 6.0% up
Circulating Supply 1,245,991,468
All – Time High $3.75 (On Nov 10, 2021)  
LRC Current Market Status (Source: CoinGecko)

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 2023

Loopring (LRC) holds the 101th position on CoinGecko right now. LRC price prediction 2023 is explained below with a daily time frame.

LRC /USDT Rising  Wedge Pattern (Source: Tradingview)

A rising wedge pattern suggests a reversal pattern frequently seen in bear markets. The rising pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point.

This pattern is made by drawing two trendlines, one trendline draws across two or more pivot highs, and the other one connecting two or more pivot lows.

Currently, Loopring (LRC) is in the range of $0.3203. If the pattern continues, the price of LRC  might reach the resistance levels of $0.3668. If the trend reverses, then the price of LRC may fall to $0.3026, $0.2786 and $0.2537.

Loopring (LRC) Support and Resistance Levels

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

LRC /USDT Support and Resistance Levels (Source: Tradingview)

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

Resistance Level 1$0.3571
Resistance Level 2$0.5411
Resistance Level 3$0.8617
Support Level$0.1874
LRC /USDT Support and Resistance Levels

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 $0.8617.

Accordingly, if the investors turn against the crypto, the price of Loopring (LRC)  might plummet to almost $0.1874, a bearish signal.

Loopring (LRC) Price Prediction 2023 — 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.

LRC /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of Loopring (LRC) is shown in the chart above. Notably,  Loopring (LRC) price lies above 50 MA (short-term), so it is in a uptrend. 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 69.17. This means that Loopring (LRC) is nearly in an overbought 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 2023 — 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.

LRC /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Loopring (LRC). Currently, the ADX of LRC lies in the range of  58.8107 and thus, it indicates a strong 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 69.17  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).

BTC Vs ETH Vs LRC  Price Comparison (Source: Tradingview)

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 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Loopring (LRC) between 2024 and 2030.

Loopring (LRC) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses,  Loopring (LRC) might probably attain $3 by 2024.

Loopring (LRC) Price Prediction 2025

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 $5 by 2025. 

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 7 years, LRC would rally to hit $6.

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 4 years, LRC would rally to hit $7.

Loopring (LRC) Price Prediction 2028

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 $8. 

Loopring (LRC) Price Prediction 2029

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 $9 in 2029.

Loopring (LRC) Price Prediction 2030

If investors flock in and continue to place their bets on Loopring (LRC), it would witness major spikes. LRC might hit $10 by 2030.

Conclusion

With continuous improvements in the LoopringNetwork, we can say that 2023 is a good year for LRC. For this reason, the bullish price prediction of Loopring (LRC) in 2023 is $0.8617. On the other hand,  the bearish price prediction of Loopring (LRC) price prediction for 2023 is $0.1874.

Furthermore, with the advancements and upgrades to the Basic Attention Token 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 $1 if the investors believe that LRC is a good investment in 2023.

FAQ

1.  What is Loopring (LRC)?

Loopring (LRC) is the native utility token of Loopring. It was launched as an ERC-20 token in 2017. Loopring is an open-source layer 2 (L2) exchange and payment protocol with zero-knowledge rollups on Ethereum.

2. Where can you purchase Loopring (LRC)?

Loopring (LRC) has been listed on many crypto exchanges which include  Binance, OKX,DigiFinex, Coinbase Exchange, WhiteBIT.

3. Will Loopring (LRC) reach a new ATH soon?

With the ongoing developments and upgrades within the platform, LRC  has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Loopring (LRC)?

On November 10, 2021 Loopring (LRC) reached its new all-time high (ATH) of  $3.75.

5. Is Loopring (LRC) a good investment in 2023?

Loopring (LRC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of LRC in the past few months, it is considered a good investment in 2022.

6.  Can Loopring (LRC) reach $1?

Loopring (LRC) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Loopring (LRC) will hit $1 soon.

7. What will be Loopring (LRC) price by 2024?

 Loopring (LRC) price is expected to reach $3 by 2023.

8.  What will be Loopring (LRC) price by 2025?

 Loopring (LRC) price is expected to reach $5 by 2024.

9. What will be Loopring (LRC) price by 2026?

 Loopring (LRC) price is expected to reach $6 by 2025.

10. What will be Loopring (LRC) price by 2027?

 Loopring (LRC) price is expected to reach $8 by 2026.

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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