Cryptocurrency Price Prediction

Loopring Price Prediction: Will LRC Price Skyrocket To $5 In 2022?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Apr 26, 2022

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 The crypto-verse has seen dramatic growth over the past two years with a swift move. The perpetual evolution of the space had roused the launch of Loopring. The platform intends to resolve the glitches with regard to centralized and decentralized exchanges

The core goal of the ecosystem has been to ensure quick, secure, and highly transparent solutions. The platform enables high-throughput, cost-effective payments, and trading on Ethereum. It also expects to increase the competence in building hybrid solutions by eliminating inefficacies. 

Planning to bag some LRC, at the lows, but uncertain of its future prospects? Worry not, as we decode the plausible price prediction of LRC for 2022 and beyond!

Overview

Cryptocurrency.Loopring.
Token.LRC. 
Price.$2.89.
Market Cap.$3,839,002,366
Trading Volume.$1,859,571,227
Circulating Supply.1.33B LRC.
All-time high.$3.83 on November 12th, 2021.
All-time low.$0.02773 March 13th, 2020.

Loopring (LRC) Price Prediction For 2022

Potential LowAverage PricePotential High
$2.145$2.980$3.884

  The new year has been ultra-bearish for Loopring’s price action, as it has incurred a steep fall. Starting the year with a price tag of $2.0166, undergoing a downswing. The LRC price lost 54.72% in gains, by the end of the month. Which led to the monthly closing price of $0.9232

Whilst the altcoin had posed an uptrend to $1.233, until the first week of February. Turmoils in the business resulting from geopolitical tensions between Russia and Ukraine, and anxiety about FED’s rate hike. Collectively, called for yet another downtrend, which resulted in LRC’s price brushing levels at $0.649. Recovering from the dooms, a bullish spike in volumes helped Loopring close the quarterly trade at $1.308.

Loopring’s (LRC) Price Prediction For Q2

 If the altcoin gathers steam from current levels and manages to establish its hold at levels around $1.104. Further seeking impetus from the volumes, the price of LRC could hit its potential high at $1.377. On the flipside, ebbing volumes will result in the crypto asset finding support at $0.735. That said, an equilibrium in buying and selling pressures will settle the price at $1.091

LRC’s Forecast For Q3

  Growing developmental and community building initiatives, alongside thriving adoption of the zk-Rollups, could turn imperative for Loopring’s price. As a result, LRC’s price could chug up towards its maximum price tag of $2.136

Conversely, Ethereum’s merger with ETH 2.0 materializing during the third quarter. Would steal a huge share of profits, wherefore, LRC’s price could crumble down to $1.269. Successively, a linear projection of the price could land the coin at $1.7210

Loopring’s Prediction For Q4

A delay in Ethereum’s transition to PoS, and the growing demand for a secure, high throughput, and low-cost protocol. Would bring Loopring to the limelight. Moreover, growing userbase and volumes would be supplemental in the propulsion of LRC’s price. As a result of which, the digital coin could surge to a maximum of $3.884, by the year’s end. 

 
On the other hand, the diminishing stance of the protocol, and stiffer competition could knock the price down to $2.145. Collectively, constrained by a linear momentum, the price of LRC could land at $2.980.

LRC’s Price Forecast For 2023

Loopring would hit new milestones in the NFTs space in 2023. The forthcoming year could be splendid for Loopring if bulls significantly underpin the market trend for a specific period of time. Later the protocol may surpass $7.716 by the end of the year.

 Followed by much-awaited collaborations like Gamestop would open the doors for larger expansion. In case, if an anticipated collaboration remains a rumour, then the LRC price would flip well below $3.76. With average buying and selling pressures, the price would claim a regular price of $6.031.

Price Prediction For The Next Five Years

This expeditious and stable platform has the potential to reach $14.006, by the end of the next five years. On the contrary, the price would plummet to $7.123 in case of a bearish trap. However, the protocol would end up trading at $10.56, by the end of the next five years. If the digital asset stays remote from any external influencing factors.

YearPotential LowPotential High
2023$3.76$7.716
Next Five Years$7.123$14.006

What Does The Market Say?

Wallet Investor:

 As per the revised prediction of Wallet Investors. The Loopring price is forecasted to hit a maximum price of $1.985, by the end of 2022. According to the analysts of the firm, a reversal in trend could slash the price to $1.128. While a balance in buying and selling pressures could curb the price to $1.550. The firm expects the altcoin to reach as high as $4.359, by the end of 2025. 

Digital Coin Price:

According to Digital Coin Price, Loopring will soar to reach a price close to $1.22 by the end of 2022. The forecast expects the LRC to hover around the minimum targets of $1.07, and average levels of $1.15. The company has also made maximum forecasts for 2023 and 2025. According to the forecast, Loopring could surge to a maximum of $1.38, by the end of 2023. And a maximum of $1.94, by the end of 2025. 

Gov.Capital:

  Gov. capital has also changed its prediction for the Loopring price. It expects the protocol to hit a maximum of $1.890, by the end of 2022. On the contrary, it believes, trend reversals in the market would plummet the price to $1.397. And with average buying and selling pressures, it would end up trading at $1.644. 

The website has also made predictions for the long term. It expects the price to surge to a maximum of $3, by the end of 2023. And a maximum of $3.96, by the end of 2025.

Click here to read our price prediction of Enjin Coin (ENJ)!

What is Loopring (LRC)?

  Loopring is a zkRollup (built for layer 2 solutions) layer 2 scaling protocol. It is an open protocol built for the integration of decentralized crypto exchanges. The platform’s motive is to enable high-throughput, cost-efficient payment and trading on the Ethereum blockchain.  

The platform has its own native token called “LRC” which was launched in August 2017. The protocol could be utilized to pay fees on Loopring L2. In addition, the platform possesses its own wallet with layer 2 scaling. To enable a safe, intuitive, and effective Ethereum experience in your pocket. 

The central idea behind the platform is to merge elements of decentralized and centralized crypto exchanges. In order to produce a token that will enable the distinct benefits by eliminating the existing inefficiencies. Through supervising sell and buy orders in a centralized way yet fixing the trades on a blockchain. And merging up to 16 orders into circular trades in contrast to enabling one versus one trading pairs. 

Fundamental Analysis

The Loopring foundation was founded by Daniel Wang, who is presently the CEO, of the firm. The founder is a software engineer and a known businessman in Shanghai, China. Mr.Wang has completed his graduation in computer science from the University of Science and Technology of China. Further, he accomplished his master’s from Arizona State University. 

Prior to the launch of Loopring, Daniel Wang gathered knowledge in multiple managerial and chief executive positions in reputed tech firms. He was also a chief software engineer at Boston Scientific. In addition, he held the position of senior director of engineering at JD.com, a Chinese e-commerce giant. He had also served as a senior engineer at Google. 

Moreover, he has also co-founded tech firms such as Yunrang Information Technology and Coinport Technology Ltd, a leading cryptocurrency service firm. Then, he shifted his focus to the release of Loopring v1 in December of 2017. Moving forward, the platform conducted its debut LRN airdrop in July 2018. After the success of the first event, the platform conducted the LRN airdrop worth 1.5 million in September 2018.

Subsequently, the third LRN airdrop program worth 2.1 million was carried out in November 2018. Furthermore, the second version of the Loopring was released in December 2018. However, the launch of the 3rd version brought the very zero-knowledge rollup DEX token on the Ethereum mainnet during 2019.

Our Price Prediction

  Loopring is one of the young and promising tokens designed to develop crypto exchanges. This technological revolution would benefit the token in the coming years. According to Coinpedia’s formulated Loopring price prediction. It may smash $3.8 by the end of 2022, provided it collaborates with new gaming firms.

On the downside, market fluctuations, regulatory compliance, and failure of collaborations or integrations can be a major setback for the altcoin. Therefore, Loopring’s price may struggle to consolidate around $2.1 by the year-end. Considering all viewpoints, the average price of the Loopring would be around $2.9 by the end of 2022.

Historic Market Sentiments

2018

  The growth of the asset during its initial days of the launch was phenomenal. The price had surged from $0.1765 to an ATH of $1.9 on October 1st, 2018. However, the LRC price had failed to hold its strength at the same place. And underwent a heavy correction almost to its initial levels of $0.17. 

2019 and 2020

  Though the platform had conducted a series of airdrop events in 2019 and 2020, the LRC price failed to gain traction. The price awfully hovered between $0.05 to $0.075 for the two prolonged years.

2021

  The Loopring price made an impressive move by taking advantage of Ethereum’s high gas fees during early 2021. Followed by this, the LRC price almost soared by 700% to $0.8235. The token had managed to gain consistency at around $0.5123 until mid-May. However, the Chinese market crash on May 19th led to a steady decline in the price. 

The price almost plummeted to $0.2298 on 24th July. From there, the price managed to gain a steady rise and further managed to reach $0.4594 by 28th September. The protocol had seen exponential growth with a kickstart to Q4. Post the Gamestop’s new job listing hinting at its collaboration with Loopring, a huge chunk of traders jumped into trade the token. 

Followed by the unofficial news, LRC’s price made a parabolic move from $0.458 to its ATH of $3.83. However, as the traders shift their focus to selling off their holdings. As adverse market sentiments regarding US Feds’ decision to taper the interest rate hurt the price rally. Owing to the same, the price slipped to $2.09 by the year’s end.

To read our price prediction of PancakeSwap click here!

FAQ

Q: Is Loopring a good investment?

A: Yes, if you are planning for the long term, Loopring looks promising considering its vision to expand into a gaming firm.

Q: Where can I trade Loopring?

A: Loopring can be traded on various exchanges like Binance, Bybit, OKEx, and Huobi, amongst others.

Q: Is Loopring worth buying in 2022?

A: Loopring has the potential to be a profitable short-term investment. As gaming and NFTs space has been taking up another step to revolutionize the gaming sector.

Q: How high will the price of LRC reach by the end of 2022?

A: The price of LRC could possibly reach as high as $3.884, by the end of 2022.

Q: What can be the maximum trading value of LRC, by the end of the next five years?

A: The altcoin could surge to its potential high of $14.006, by the end of the next five years.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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