(Update August 1, 2021) Everyone wants to know how XVG price will behave in the coming years. 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.”
As you can see, XVG price is a hot topic in the crypto industry as the coin continues moving higher. Everyone wants to get access to the most valuable coins and how they are expanding all around the world. In the next sections, we are sharing with you the opinions of some of the most successful traders in the market.
Verge (XVG) Price Prediction TradingView Analysis Updated August 1, 2021
The XVG analyst has drawn several lines in the chart showing that the virtual currency is in a bull channel that started a few days ago. In the 4-hour chart, he shows that there are several resistance levels at 0.02275 USDT at 0.2423 USDT and at 0.02566 USDT. The virtual currency has also a support level close to 0.01963 USDT per coin.
It might be possible for the virtual currency to move towards the higher resistance levels, but it might take some time for it to move there. This is just an idea that was shown by the analyst on the charts but where he does not give a clear idea of how this could happen in the near future.
Things do not seem to look good for Verge (XVG) against Tether (USDT). The expert shows a chart in which we can see the price of this virtual currency massively surging in 2021 and then it suddenly fell from its highs from 0.08 USDT per coin to 0.018 USDT per coin. This price level could work as a strong support for XVG, however, things could change at any moment.
Furthermore, the expert believes that the virtual currency could continue falling in the coming days and until the end of the year. He said that the market capitalization could move towards $300 million or even $150 million, which could be a good place to start accumulating this coin.
For the XVG/USDT trading pair, we see that the analyst was following a trend that was moving higher and that started in May. However, in mid-June, we have seen that this channel was not able to sustain the price of the virtual currency. As it broke downwards, XVG has also tried to re-test the bottom channel but it couldn’t come back to that channel.
The virtual currency continued moving sideways. Now, we are waiting for how the entire altcoin market would continue moving in the coming years. There is no clear information on how this coin could continue its trend and the analyst didn’t share a plan B for verge.
As per the analyst, XVG is overall bullish and it is trading inside the blue channel that is displayed on the chart. However, as we have already shown two weeks ago, the channel was not able to sustain the growth that it had and the coin has fallen to a range between 0.02 USDT and 0.036 USDT.
This has been a trend that started not in June but already in May when the price of XVG fell to 0.0147 USDT per coin. At the moment, there is no clear trend for the digital currency and it might eventually follow the path of other larger digital assets in the market.
For the XVG/USDT trading pair, we see that the previous predictions were not good for XVG. Indeed, the price moved downwards breaking a long-term bullish trend on the 1-hour chart. The analyst considered that it was possible for XVG to continue in this bull channel but the digital asset literally broke down from it and it fell to as low as 0.01437 per coin.
Now it is time to wait and see whether it will be possible for the XVG virtual currency to move higher and enter the bull trend in which it was earlier in May. The overall trend of the crypto market would be definitely important to understand the future of this digital asset.