RSR Coin Price Prediction

RSR Coin Price Prediction
reserve-rights-token
reserve-rights-token

Reserve Rights Token (RSR)

Price
$ 0.034553

What is the RSR coin?

The Reserve Rights Token (RSR) is a cryptocurrency that was developed by Reserve with the goal of creating a stable currency for the world. Reserve is a company that is backed by Coinbase and Peter Thiel, one of the co-founders of PayPal. 

The RSR coin was started to address a key challenge that is affecting billions of people globally. The challenge is inflation and the lack of a stable currency. In most countries, especially developing countries, people work hard for their money only for it to lose its value because of inflation.

The goal of an independent currency of a stable currency that cannot be manipulated was the foundation of cryptocurrencies. However, since their founding cryptocurrencies have become some of the most volatile assets in the world.

Therefore, several approaches have been thought about to solve the problem. The most common one is stablecoins, which are backed by fiat currencies. Examples of the most popular stablecoins are Tether and USDT. 

The Reserve Protocol has proposed the creation of the Reserve Token (RSV), which is similar to a stablecoin. The RSR coin is a cryptocurrency that is used to facilitate the stability of the RSV. It can be traded like other cryptocurrencies. Today, the RSR coin has a market capitalization of more than $469 million.

Is the RSR coin a good investment?

The RSR coin became a tradable asset in January 2020. At the time, it was trading at $0.03. Between January and April, the token rose by more than 290%. This was in a period where Bitcoin and other altcoins prices were surging. 

After soaring to an all-time high of $0.1190 in April, the Reserve Rights Token’s price declined by more than 86% and reached a low of $0.0166. Today, the RSR coin is trading at $0.0356, which is about 128% above its all-time low. 

Therefore, looking back, the RSR coin has not been a good investment to many people. On the positive side, it is not alone. Indeed, a look at its chart shows a close similarity to that of other cryptocurrencies and altcoins. 

Crypto fundamental analysis for the RSR coin

The Reserve Protocol is the foundation for both the Reserve token and the Reserve Rights token. It holds the reserves that are used to back the stablecoin. At times, the protocol can mint new coins and sell them in exchange for collateral items.

The goal of doing this is to create an alternative currency that is backed by one or more fiat currencies. As a result, people in both developed and developing countries can take advantage of this stability. 

Still, the biggest risk for the RSR coin is that regulators have taken aim at the stablecoin technology. In the United States, the SEC is currently investigating the industry. Analysts expect that the industry will be put into more regulations, which could affect its efficacy.

Crypto technical analysis for RSR coin

The four-hour chart shows that the RSR coin price formed a double-bottom pattern at $0.0270 in September 2021. Since then, the token has been in a strong bullish trend. Along the way, the 25-period and 50-period moving averages (MA) have made a bullish crossover pattern. At the same time, the MACD has been in a bullish trend. 

Reserve Rights technical chart

Worst case scenario

The worst-case scenario for the RSR coin is where the price crashes below the double-bottom level at $0.0269. Such a move will send a signal that there are still more sellers waiting on the sideline. As such, it will increase the possibility that the coin will continue dropping.

Best case scenario

The best-case scenario for the RSR coin is that its price will clear the resistance level at $0.0400. If this happens, it will send a signal that there are bulls in the market. As such, the price will likely continue rising, with the next key resistance being at the all-time high.

Should you buy the RSR coin today?

From a technical perspective, it seems like the RSR coin is a good investment today. For one, it has already formed a double-bottom pattern, which is usually a bullish signal. Also, the price is above the two moving averages, which is another bullish sign. Therefore, there is a likelihood that the price will keep rising in the next few months, making it a good buy.

Will the RSR coin hit $1 this year?

While we expect that the RSR coin will keep rising this year, there is zero possibility that it will rise to $1. That is because $1 is significantly above the current level. $1 is about 2,600% above the current level. Therefore, rising by such a percentage is a toll order.

What is the RSR coin price prediction for 2025?

Cryptocurrencies have a close correlation with one another. As such, when a major currency like Bitcoin rises, other altcoins tend to rise as well. Therefore, in our view, we believe that Bitcoin will be substantially higher than where they are today. Some analysts like Cathie Wood expect it to rise to more than $100,000. As such, using that assumption, we can assume that the RSR coin will be significantly higher than where it is today.

The best way to buy RSR coin

The easiest method to buy the RSR coin is using a cryptocurrency exchange that offers it. Some of the top exchanges that offer it are Huobi, FTX, Bittrex, HoneySwap, and Poloniex.

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts