Loopring Price Prediction 2022 — Will LRC Hit $5 Soon?

  • Bullish LRC price prediction is $1.6625 to $3.9341.
  • The LRC price will also reach $5 soon.
  • LRC bearish market price prediction for 2022 is $0.1125.

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

Loopring Current Market Status

According to CoinGecko, the price of LRC is $0.911447 with a 24-hour trading volume of $80,713,224 at the time of writing. However, LRC has decreased by nearly 3.3% in the last 24 hours.

Moreover, LRC has a circulating supply of 1,245,991,468 LRC. Currently, LRC trades in cryptocurrency exchanges such as  Binance, OKX, Bybit, Bitget, and CoinTiger. 

What is Loopring (LRC)?

Loopring (LRC) is an ERC-20 token, it is a self-possessed open-sourced, audited, and non-custodial exchange protocol. Loopring aims to allow anyone to build non-custodial, order book-based exchanges on Ethereum by leveraging zero-knowledge proofs. Loopring’s performance is sufficient for professional traders and market makers to deploy algorithmic strategies and other automated trading bots.

Loopring (LRC) Price Prediction 2022

Loopring holds the 94th position on CoinGecko right now. LRC price prediction 2022 is explained below with a weekly time frame.

A Cup and handle price pattern on a security’s price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a “u” and the handle has a slight downward drift. the cup and handle are considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. A Cup and handle are considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. A cup and handle is a technical indicator where the price movement of security resembles a cup followed by a downward trending price pattern. This drop or handle is meant to signal a buying opportunity to go long on security. 

Currently, LRC is in the range of $0.911447. If the pattern continues, the price of LRC might reach the resistance level of $1.3284. If the trend reverses, then the price of LRC may fall to $0.7973 & $0.5872.

Loopring (LRC) Support and Resistance Level

The below chart shows the support and resistance level of LRC.

LRC/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of LRC.

Resistance Level 1 $1.6625
Resistance Level 2 $3.9341
Support Level  1 $0.7540
Support Level  2 $0.3429
Support Level  3 $0.2030
Support Level  4 $0.1125
LRC Resistance & Support

The charts show that 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 $3.9341.

Accordingly, if the investors turn against the crypto, the price of the LRC might plummet to almost $0.1125, a bearish signal.

Loopring Price Prediction 2022 — RVOL, MA, and RSI

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

More so, the LRC’s Moving Average (MA) is shown in the chart above. Currently, LRC is in a bullish state. Notably, the LRC price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of LRC at any time.

Meanwhile, the relative strength index (RSI) of the LRC is at a level of 49.55. This means that LRC is in a nearly oversold state. However, this means a major price reversal of LRC may occur in the upcoming days. So, traders need to trade carefully. 

Loopring Price Prediction 2022 — ADX, RVI

Let us now look at Loopring’s Average Directional Index (ADX). 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. Currently, LRC lies in the range of 11.7302, so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of LRC. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of LRC lies above the 50 levels, indicating that the direction of volatility is high. In fact, LRC’s RSI is at 49.55 level thus confirming a potential sell signal.

Comparison of LRC with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Loopring.

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

From the above chart, we can identify the trend of the ETH, BTC, and LRC is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and LRC also increases or decreases respectively.

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 in 2022 is $3.9341. On the other hand,  the bearish LRC price prediction for 2022 is $$0.1125.

Furthermore, with the advancements and upgrades on the LRC ecosystem, the performance of LRC would help to reach above its current all-time high (ATH) $3.75 very soon. But, it might also reach $5 if the investors believe that LRC is a good investment in 2022.

FAQ

1. What is Loopring?

Loopring is a software that runs on Ethereum, aimed at promoting a global network of users to run a platform that enables the creation of new types of crypto asset exchanges.

2. Where can you purchase LRC?

LRC has listed on many crypto exchanges which include Binance, OKX, Hotcoin Global, Mandala Exchange, and CoinTiger.

3. Will LRC reach a new ATH soon?

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

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

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

5. Is LRC a good investment in 2022?

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, LRC is considered a good investment in 2022.

6. Can Loopring (LRC) reach $5?

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 $5 soon.

7. What will be the LRC price by 2023?

Loopring (LRC) price is expected to reach $5.5 by 2023.

8. What will be the LRC price by 2024?

Loopring (LRC) price is expected to reach $6.8 by 2024.

9. What will be the LRC price by 2025?

Loopring (LRC) price is expected to reach $7.2 by 2025.

10. What will be the LRC price by 2026?

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

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

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