(Update August 2, 2020) 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.”
More details on the partnership can be found here, detailing also how this may affect Verge’s visiblity and XVG price.
Verge (XVG) Price Prediction TradingView Analysis Updated August 2, 2020
XVG has been traded in recent weeks in a descending channel in which we see there were three touches of the upper band and two touches on the lower band. The trader considers that we are currently in a buying zone that is located between 0.00519373 and 0.00588085.
Now that the crypto market is gaining bullish momentum, the digital currency could eventually move towards the 0.01 level and continue moving higher in the future. However, it is very clear that XVG is being traded inside this range and until we do not break out from it we may continue inside it.
According to the crypto analyst Moon333, we can have a potential reversal zone close to $0.0062 and $0.0058. The Fibonacci projection shows that it could move towards $0.0066 to $0.0075 in the coming months and before the end of the current year.
The reversal zone has been very important as it worked as a support level and it must be held in the virtual currency wants to move higher in the coming months. This comes after a descending triangle in which the price of Verge fell from $0.008 to $0.0054 in just a few weeks.
For the XVG/USDT trading pair, this analyst is showing that there is an opportunity to buy between $0.0050 and $0.0052 to then target sales at around $0.0074 and $0.0076 with more than 50% profits. However, we see the market has moved up to the selling range before we were able to acquire funds.
Another opportunity to buy would be close to $0.0040 and $0.0042 to then sell with more than 60% profit at $0.0065 and $0.0068. This is going to help traders understand how to swing trade in the market and have clear targets once we buy or sell a digital asset.
XVG/USDT was in an upward channel in which there are three main levels that the digital currency could be traded around. The first one that is mentioned by the analyst is the $0.00421 that would work as a support region. Meanwhile, the $0.005 and $0.0055 would work as resistance.
If the digital currency is able to surpass these levels, then we could see the virtual currency being traded around the last two prices. Of course, the crypto market is very volatile and we need to think about XVG as a digital asset that follows the entire macro trend of the crypto market.
Regarding the XVG/USDT cryptocurrency trading pair, we see that it has bottomed in March this year as other cryptocurrencies in the space. This is a good thing for XVG that seems to be operating in a similar overall trend as the crypto market.
As reported by the analyst, the next levels include $0.01, $0.016 and $0.0243. At the moment, XVG has a price of $0.004 but there is a bullish sign compared to the BTC pair. In this case, XVG is showing an inverted hammer doji that is showing bullish momentum could be coming to this digital asset.