(Update July 30, 2022) 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 Price in 2020 and 2021
When it comes to Verge (XVG) we see that the last half of 2018, 2019 and 2020 have been quite flat years for this virtual currency. Not only this, XVG registered its last all-time high in early 2018, showing that investors have been waiting for a long time for an all-time high.
Analysing 2020, we see that the year started with XVG registering the lowest price in years as this coin is close to $0.00325. Then, a recovery started, something that we have not seen in order virtual currencies. The recovery allowed the coin to get closer to $0.01 in 2020 without being able to surpass that level.
However, things changed in 2021 when the market turned completely bullish. We have seen how digital currencies started to move higher and Bitcoin (BTC) was a clear leader in this bull market. XVG left years of accumulation behind and the virtual currency expanded to $0.07 per coin (briefly).
Despite this price growth, the coin remained far from its all-time high in 2018 (close to $0.25 per coin). Now, the coin entered a period of accumulation that seems that have broken downwards and that could push the virtual currency to new lows in the coming days. However, it is still far from its key support level at $0.01 per coin.
Verge (XVG) Price Prediction TradingView Analysis Updated July 30, 2022
XVG has been in a falling wedge since late 2021. The coin has been moving lower and both boundaries of the wedge have been tested many times. Now, in recent days, we have seen that the coin has broken above the current upper boundary of this wedge, which could push the virtual currency close to 0.01162 USDT in the near future according to this virtual currency analyst.
As per the expert, the breakout could provide investors with 300% or 400% returns in the near future. However, we should pay close attention to the direction of the market. In recent days, we have seen that Bitcoin recovered and tested the 24,000 USDT price region. Therefore, we should pay attention to the general direction of the market and whether there is not a reversal.
For XVG, this analyst shows that the virtual currency has been moving higher in recent weeks after a strong sell-off in June. The coin has recovered close to 40% of the price lost during the recent sell-off. Hence, we can see this digital asset continuing its move higher if it is able to break through some resistance levels.
The expert has also drawn in the charts two important support and resistance levels. This is a region that stands between 0.00273 USDT and 0.00546 USDT. Despite that, this analyst considers that there could be a very heavy fall ahead that could push the price towards the lower boundary of this channel. Understanding what happens to Bitcoin (BTC) and the whole cryptocurrency market is something very important, as this could have an impact on XVG and other digital currencies as well.
This XVG/USDT analyst shows that the virtual currency has been in a downtrend since October 2021 when Bitcoin and other digital currencies were reaching all-time highs. The coin then moved lower and reached a price of 0.00246 USDT in June. Now, the coin could start recovering but it needs to break above the higher boundary of this descending wedge.
Another thing that we should take into consideration is that the analyst sees this virtual currency moving higher and hitting a price per coin of 0.01162 USDT in the coming months. However, this is not something that could happen in just some hours, it might require some time for it to start moving higher. For example, Bitcoin and other virtual currencies should enter a new bull trend, which seems far from happening right now, as Bitcoin continues to be traded at close to 19,100 USDT.
The last 16 weeks have been terrible for this virtual currency (XVG/USDT). Indeed, the analyst says that according to chart patterns, there is a strong descending channel that was formed. This is extremely negative for this digital currency, which could continue to be traded inside this range for some time.
As we can see in the chart, the analyst has drawn three take profit levels for this digital currency that are currently at 0.007411 USDT, 0.01032195 USDT and 0.0150268 USDT per coin. He has also established a stop loss at 0.000593 USDT per coin. Now, the virtual currency is at 0.0027 USDT and it could continue to move lower in the future if Bitcoin does not recover from the recent sell-off that pushed its price below $19,000. BTC has a large impact on the market, especially in altcoins such as Verge.
This analyst explains that XVG has not been performing well in recent months, and this is something that can already be seen in the charts. He has also mentioned that there is a descending channel that was formed in the last 16 weeks and is definitely not bullish for this virtual currency. However, he considers that there could be some bullish signals as well.
The things that the analyst says that we should take into consideration include a Bitcoin or crypto market crash. This could not only affect BTC and ETH but also most altcoins, which usually fall even faster than Bitcoin during market sell-offs. The take profit levels shared by the analyst include 0.007411 USDT, 0.01032 USDT and 0.01502 USDT. He has also shared information about a stop loss in case the market continues to move downwards in the coming months.