(Update April 11, 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 April 11, 2021
For the XVG/USDT trading pair, the analyst considers that there has been a constant recovery for Verge in the charts. The basic rules that the expert shared include: never buy at the top (ATH), use stop loss for leveraged positions and don’t use leverage if you are not an expert.
According to the analyst, there are some important price levels to take into consideration. These levels include 0.02753 USDT as support at the moment. If the market continues moving higher, the next resistance level could be found at 0.0808 USDT, close to the previous all-time high registered by this virtual currency.
According to the analyst, we see that XVG has broken a very important resistance level and it could be ready to move higher or join the bull run party in the coming days. As we have seen XVG has been growing for several weeks now and the bull run could continue.
The expert believes that it might be possible for XVG to reach the first target of 0.0619 USDT in the coming weeks (throughout 2021). However, the market could also help the virtual currency reach the 0.1263 USDT target very close to its all-time high of almost 0.25 USDT. Everything will depend on the bullish trend currently present in the crypto market.
The analyst shows that this small-cap altcoin has started its bull run. The volume continues to increase and this could be a good entry opportunity above the current resistance level at 0.02753 USDT.
The virtual currency has been in a bear trend since 2018 and the market moved positive just a few months ago (at the end of 2020). The main target for the analyst is close to 0.0808 USDT per XVG coin. However, this may take a long time to happen. It is also worth mentioning that the support level for the digital asset is currently at 0.0108 USDT.
Verge (XVG) could continue moving higher in the coming weeks. The analysis shows that the virtual currency could move from 0.017 USDT to 0.0363 USDT in the near future. However, other targets include 0.048, 0.067 and 0,102. Nevertheless, it might take a long time for XVG to reach these levels.
Another strong resistance area is at 0.02922 USDT. A new bull market could start if the virtual currency starts moving higher. However, in order for that to happen, it might be necessary for the entire cryptocurrency market to continue moving higher. At the moment, BTC is making a short pause.
XVG seems to be moving higher from the current levels after years of being in a consolidation phase. It is possible to see that the virtual currency could eventually reach 0.1128 USDT per coin, even when we now see it at 0.02665 USDT.
The analyst considers that it is possible to see some traction with the general bull market that we see now in virtual currencies. The volume could continue growing in the future and help the virtual currency move higher. Volume is currently at one of its highest points ever for XVG. However, it remains far from its all-time high from early 2018 and the end of 2017.