(Update October 15, 2019) Created in 2014, Verge is an open-source cryptocurrency. It offers anonymous transactions by hiding the IP address and geolocation of its users. Last year’s crypto market slump combined with two recent hacks that the coin has faced have doubled the negative impact to XVG price.
The coin has a market cap of $61 million and it’s currently trading at $0.0038 after a .26% gain over the past 24 hours.
However, despite these recent setbacks, recent developments indicate that 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.
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.
There is a 55% profit potential for XVG
The analyst says that;
The EMA30 (RED) is acting as a support, and MA100 (Green) is acting as a Resistance.
The analyst advises that you can grab some XVG with low risk & hold with stop loss. All in all, he expects a 40-55% Profit in the next 10-15 days, so be on the lookout.
Buy Between 42-45 Sats
Sell Targets 53-62-69 Sats
Stop Loss Below 40 Sats
The analyst says that XVG has been forming a falling wedge since April 2019 and unsuccessfully tried to break out four times.
The pressure on the dynamic resistance (green line) is now massive as we are approaching the bottom level around 38 sats.
Verge has to break out no later than September 10th, or we will explore new lows around 32 sats.
If XVG breaks out, the first target will be the resistance marked by the blue line around 50 sats.
But the most important resistance is marked by the red line and is around 55 sats.
After breaking it, verge will start a new uptrend and potentially a bull run.
TP 1: 50 sats
TP 2: 55 sats massive resistance
Tp 3: 70 sats accumulation zone
Tp 4: 90 sats accumulation zone
Tp 5: 100 sats massive resistance
Tp 6: bull run
The support of this triangle is at 0.00000048 sats which is very firm and cannot be broken sofar.
In the meanwhile, the price action is also forming a bearish shark which can lead to colossal profit possibility.
As per Fibonacci, the analyst has defined some secure targets and also aggressive targets up to the completion of shark’s leg.
The targets are:
Buy between: 0.00000208 to 0.00000048
Secure sell targets: 0.00000671 to 0.00001331
Aggressive sell targets (Up to the completion of Shark’s leg): 0.00001793 to 0.00002194