(Update January 03, 2021) Created in 2014, Verge is an open-source cryptocurrency. It offers anonymous transactions by hiding the IP address and geolocation of its users.
The coin has a market cap of $81 million and it’s currently trading at $0.005 after a 10% change over the past 24 hours.
Verge resurgence is buoyed by PayPal’s decision to withdraw its services from the leading adult entertainment platform, Pornhub.
Also, there are other recent developments that show investors have a reason to be optimistic when it comes to the price of XVG. Below we’ll detail out factors that are likely to push the price of Verge upwards.
Experts Opinion On Why Verge XVG Price Will Rise
Experts believe that the Verge (XVG) price will surpass predictions for the long-term. The coin faced some harsh conditions in 2018, but analysts believe that towards the end of this year it will be different for the coin. Let’s look at reasons why experts foresee a great future for Verge.
WalletInvestor predicts that the price of XVG may reach $0.0370 by the end of this year.
MegaCryptoPrice sees the price of XVG reaching $0.7401 by the end of 2020, with the possibility of trading at $2.39 by the end of 2023.
Coin Fan predicts that XVG may reach $0.45 at the end of the year on the higher side and $0.21 on the lower side.
Digital Coin Price predicts XVG hitting $0.0257 by the end of 2020 and even reaching $0.043 by 2022.
According to Chriss Chase, the head of marketing and operations at the firm, the cryptocurrency suffered a similar fate as other digital coins throughout 2018. But these market conditions did not affect the acquisition of new partners and developments. The team has worked to ensure more partnerships, which if successful, will propel the coin’s price to greater heights in the future.
John McAfee posted a tweet promoting the project. On this tweet, McAfee stated that Verge is a good coin to invest, and also predicted that the coin’s price would hit $15! He has since said that he meant $0.15 which would be close to its peak price of $0.22 recorded in December 2017. Nonetheless, he is known to make crazy predictions.
Moreover, expert analysis by BitDegree gave various reasons why they think the coin is a good investment. Among the reasons, is that the platform became the first privacy coin to facilitate smart contract technology, and added that this could push the coin’s price higher.
Other factors influencing the price of Verge include;
Bitnovo adds support for XVG
Recently, Bitnovo a crypto exchange platform decided to add support for XVG. A move that will see crypto users in Spain and Italy purchase XVG via ATMs through their over 20,000 stores. Bitnovo started operating in 2016 and has become a significant player in the crypto industry.
The platform announced Twitter stating:
“We also have Bitnovo exchangeable coupons to buy Verge, available in establishments like Fnac, Eroski, Carrefour, in Spain and Italy. A simple way to acquire #Verge.”
The company adds that users can quickly buy and receive XVG in their wallet. Also, they can buy anonymously using the platform’s vouchers and gift cards fast for users to purchase and receive XVG to access the platform, users also have the option of using prepaid debit cards or a mobile app (IOS and Android).
This move should bring new users to the Verge, and as a result, it will boost XVG price.
In another move that will boost the price of XVG, Crypto Planet – one of the largest and fastest-growing e-commerce retailer using crypto has decided to add support for XVG. The platform is built to address the need for affordable shopping destination using virtual currencies.
It focuses on the accessibility of all kinds of products in the electronic and apparel space. Also, it allows people to use the currency of their choice to make purchases.
To motivate more users to use the privacy coin, they will offer discounts for purchases made with the Verge using the #ILoveVerge code.
In a Twitter announcement, the retailer says:
“We would like to congratulate @vergecurrency for successfully integrating with our Online Store. Verge Network Participants can now Shop Goods with $XVG. We are offering a 15% Discount on the First 1000 Orders Purchased with $XVG.”
Adult Website Payment Gateway
In another move that will add more users to the Verge network, Pornhub, the world’s leading adult website started accepting XVG on the platform. The announcement was made in April. Corey Price, the CEO of the adult website, said that Verge offered security and convenience. Something that makes XVG suitable as a means of payment when compared other crypto coins.
The official statement published on the website read:
“The future has come. In our efforts to keep current with our community’s privacy and payment preferences, Pornhub will now be accepting Verge as a means of payment for services like Pornhub Premium and more, on our platforms. Building on Verge’s core values of security, anonymity, and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.”
Verge (XVG) Price Prediction TradingView Analysis Updated January 03, 2021
For the XVGUSDT trading pair, the analyst considers that we could see three things in the coming days. There is an impulsive reversal from the bottom. This could certainly help the digital currency move higher.
There are also high trading volumes at the current wave. That means that we could be experiencing the third wave. Furthermore, the coin could reach a target between 3.61 and 4.23 USDT. This could eventually help it to retrace to $0.25 and continue with the impulse in the last fifth wave towards 0.07 USDT per coin. Nevertheless, the price remains far from its all-time high reached at the end of 2017.
For the XVG digital asset being traded against USDT, the analyst does a very clear Elliott Waves analysis. He sees that we are in the current third wave in an ascending channel that could definitely become the longest and most powerful of the 5 waves that the analyst has spotted.
Moreover, the digital asset could later retrace (4th wave) and move even higher through a 5th wave that can be seen in the chart. This would allow XVG to move from the current levels at 0.00751 to 0.037 and then retrace to 0.026. This would eventually bring an opportunity of a fifth wave towards 0,07 USDT per XVG.
The analyst shows that the XVG/USDT trading pair has been growing in recent weeks and has stabilized in recent around 0.0067 USDT per coin. However, we see that the market didn’t play out as he was expecting in November, even with the price surge experienced by Bitcoin and other virtual currencies in the market.
It may be necessary for the market to wait some time before we resume the bull trend. Consolidation is also good to bring new traders, investors and buyers into this asset. Despite that, XVG has stabilized at the end of November and this is also a positive sign for the asset.
For the Verge cryptocurrency, we see that the analyst is keeping with its last prediction for XVG to move higher. In the Heikin Ashi candle setup on the daily, the analyst considers that XVG could move to 0.00648 USDT in the coming days and weeks.
A few days ago, we have seen how XVG has bottomed close to 0.0036 USDT and started to move higher. Although it remains far from June’s highs, the digital currency could gain traction as the crypto market continues moving higher. XVG could find some resistance at around 0.0055 USDT if it continues moving higher.
As we shared with you a few weeks ago, the analyst saw Verge moving towards 0.00644172 USDT per coin, but it the end, this didn’t happen. The digital currency was able to find some support close to the 0.003619 USDT region, allowing the virtual currency to have an opportunity to surpass the target shared by the analyst.
The entire analysis made by the trader comes after a bat figured formed between the months of May and October and recovering from the COVID-19 sell-off in March this year. This shows the digital currency would be ready to continue its movement upwards but with some resistance close to 0.0058 USDT.