Price Predictions

Loopring Price Prediction Weekly (May 2022): LRC Price Could Face a 10% Drain This Week

LRC Price

Key Takeaways:

  • The LRC price closed the previous day’s trade at INR 56.6 and a market capitalization of INR 9.57 Cr and a circulating supply of 133 Cr LRC
  • The recent slash hindered the rally at the larger extent which was all set to slice through the descending consolidation and head to INR 70
  • LRC price could continue consolidating hard until the end of the present week, however, minor flips to the local resistance may also be expected

Loopring Price Analysis:  Will LRC Price Hit INR 75 This Week of May?

The Loopring price since the beginning of May’s trade attempted very well to slice through the descending triangle but the fresh slash pulled bag the price within the same consolidation. And hence the fear of the LRC price breaking down the lower support and sliding below INR 40 haunts the rally. As mainly the bears have dominated largely while the bulls remain off-the shore.

However, in the short term, the LRC price is attempting to recover from the previous day’s losses. And if in case the price experiences a drain, it may drop to INR 49 and attempt a rebound. Therefore, the price may consolidate between INR 50 to INR 59 until the weekend and try to find a strong base to kickstart an uptrend.

Check out the Latest Prices, Charts, and Data of  LRC/USDT.

Loopring Price Prediction: LRC Price Trend Comparison with MATIC (Last 30 Days)

LRC Price

Source: Tradingview

Loopring and Polygon are built on the Ethereum blockchain and are considered one strong competitor. However, both are maintaining a steep descending trend, while each attempt of flipping from the bearish trend resulted in another leg down. 

The Loopring price maintained a strong descending trend and dropped from 0 to as low as -41.54%. On the other hand, the MATIC price also fell drastically from the same levels to -36.43% at the press time.

Check out the Latest Prices, Charts, and Data of  MATIC/USDT.

Correlation of LRC/USDT and LRC/BTC (Last 30 Days)

LRC Price

Source: Tradingview

The start of April’s trade was extremely bearish for most of the crypto assets and Loopring is among them. While May’s trade was expected to halt the descending trend, the fresh slash dragged the price to its initial lower levels. Currently, both the trading pairs are attempting to flip largely from the bearish trend, but bulls appear exhausted and hence could continue narrow consolidation. 

The LRC/USDT price which ignited a fall from the average levels in April continued to visit lower support constantly and currently hovering around -41.58%. On the other hand, the LRC/BTC pair which fell from the same levels is trading at -22.45%. 

Additional Read: MATIC Price Prediction Quaterly

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
Anchor Protocol(ANC/USDT) INR 175.66 +18.06%
1Inch(!INCH/USDT) INR 106.53 +4.72%
USD Coin(USD/INR) INR 81.05 +1.81%
Binance USD (BNB/USDT) INR 81.05 +1.80%

Top Losers

Crypto Price* 7-Day Percentage Change
Kyber Network (KNC/USDT) INR 239.03 -19.21%
Zilliqa(ZIL/USDT)  INR 6.23 -17.80%
Tron(TRX/USDT) INR 5.97 -15.38%
Fantom(FTM/USDT) INR 59.12 -14.45%

*Prices are of 04 May 2022 at the time of writing the article

What’s New on CoinDCX? New Coin Listings on CoinDCX App

Crypto Price*
JasmyCoin(JASMY/USDT) INR 1.37
Audius(AUDIO/USDT) INR 65.02
Waves(WAVES/USDT) INR 1,107.68
Mina(MINA/USDT) INR 142.49

*Prices are of 04 May 2022 at the time of writing the article 


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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