Verge Surged Almost 400% in a Month - Can XVG Price Pump Even Higher?

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Verge (XVG) surged almost 400% in the past month and 20% in a week. But technical analysis indicates it’s moving into a consolidation phase.

The recent stratospheric rise may be attributed to several factors within its ecosystem, including its recent listing on the Huobi exchange. Verge is a cryptocurrency project focused on privacy with fast and efficient decentralized payments.

To achieve its aim of privacy, it integrates the anonymity network Tor into its vergePay wallet, allowing users to send transactions to stealth addresses.

It’s price is down 1.3% today while its trading volume slumped 44%.

XVG Enters Consolidation Phase

The technical analysis indicates it’s time for some consolidation. After yesterday’s red candle, XVG has formed a Gravestone Doji on the daily chart. This candlestick hints at a trend reversal ahead, in this case positive, although tomorrow’s candle will provide confirmation.

XVG is trading a short and long-term bullish sentiment above its 50-day and 200-day Simple Moving Averages (SMA). The Golden Cross formed on July 9 is also a bullish sentiment for the token as the 50-day SMA crossed above the 200-day SMA, showing increased bullish pressure.

Also, its Relative Strength Index (RSI) value is 69.654, close to the overbought region of 70. The RSI moves sideways, showing that the bulls and bears are evenly matched in today’s market.

XVG’s Moving Average Convergence/Divergence (MACD) is above its signal line and displays positive values, confirming the bullish trend. However, the MACD’s Histogram bars are fading, hinting a slight retracement.

XVG is trading under bearish pressure today despite its recent price gains. It found support at the $0.0059122 price level moving to $0.00748066 as a higher support level.

The bears at the $0.00824424 resistance level continue to hinder their rise above this point. A break above this price level will see XVG rise to $0.009 and claim higher highs.

XVG will likely continue with its positive price moves in the long term after a brief retracement to consolidate its gains.

Factors Affecting XVG’s Price

Several factors affect the price of cryptocurrencies. These factors could be unique to the particular project or general for all cryptocurrencies. They include crypto regulations, investor sentiments, utility, and adoption of a project or token.

Also, laws of supply and demand and macroeconomic factors such as inflation, recession, and consumer-based data could affect the price action of a token.

Events and developments in a crypto ecosystem or community could influence its price due to their effect on investors’ sentiment. Here are the recent trends on Verge’s network influencing its price.

Recent Trends And Developments On the Verge Network

Huobi Announces XVG Perpetual Listing

Huobi, a globally recognized crypto exchange, announced the listing of the $XVG/USDT pair to their perpetual future with up to 20X leverage on July 6, 2023. XVG’s listing on this global market increased its customer base and exposure significantly, positively impacting its price and resulting in a bull run.

Also, its utility in perpetual futures on the exchange will boost its market cap and value as more investors take different trade positions with the tokens.

Binance Adds Verge And Others On Cross Margin

The world’s largest crypto exchange Binance announced the addition of XVG, XEC, PENDLE, and STORJ to their gross margin.

It implies these assets are now listed among borrowable assets on Cross Margin. XVG/USDT is one of the new pair available to Binance users, further boosting the token’s utility.

The announcement by Binance will further boost XVG’s price performance based on increased exposure and utility.

Kucoin Futures Launch USDT Margined XVG Contract

Kucoin exchange, on July 7, announced the launch of XVG/USDT margined perpetual contract supporting 1-30x leverage.

Kucoin is also one of the top global exchanges, and this listing will positively influence XVG’s price moving forward due to increased exposure to millions of users on the crypto exchange.

NOW Wallet Support Verge

A crypto wallet provider praised verge outstanding gains of over 237% in a week. The wallet providers encouraged its users to buy, swap and store XVG securely and privately using NOW wallet.

This integration is another positive step to increased global adoption of cryptocurrency.

Verge Lists On Giottus In India

Giottus, an Indian-based cryptocurrency exchange, announced the listing of the new XVG/INR pair.

According to the announcement, Verge is an innovative cryptocurrency project to usher Indian users into a crypto revolution.

Giottus has over 1.3 million users and is a launching pad for professional and amateur traders hoping to grow their crypto assets.

This partnership exposes XVG to a new market considering the large population of Indian users. It will likely help its price action and adoption in the future as more investors adopt the tokens.

XVG Alternative

While XVG records its gains in July, investors can use an ongoing presale to unlock access to insights on crypto trading and coin performance.

Ypredict (YPRED)

yPredict is an Artificial Intelligence platform that provides traders with valuable insights and analytics for successful crypto trading.

Also, it provides developers with a reliable and secure platform to market their trading models for profit.

yPredict helps small-scale traders compete and overcome the monopoly of the whales and institutional players in the crypto market. Also, it safeguards traders from market manipulation and wash trading.

The platform’s AI resolves complex trading issues simplifying the trading process for its users with its innovative User Interface (UI).

yPredict’s massive potential makes it one of the top presales in 2023 due to its vast potential in the crypto market.

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Key Features

yPredict users can benefit from its extensive list of future once they possess the $YPRED tokens, its utility token. The top features include,

AI-powered signals and auto-predictive models: Signals help guide traders in placing successful trades in the fast-paced crypto market.

Although these signals are not 100% accurate, they provide traders, especially beginners, with vital support based on AI-generated data to boost their chances of success.

Additionally, yPredict grants developers a platform to market their predictive models built with AI technology.

These models are carefully designed by the top 1% of AI experts, making them more reliable than most models without proper verification.

Analytics: Trading and mastering candlestick and chart patterns could be challenging and time-consuming for some traders.

yPredict gives its users sentimental analysis to protect them from rug pulls and low liquidity tokens with no present or future value.

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Additionally, yPredict’s AI recommends the best indicators most suitable for trading a particular crypto token.

Chart Recognition Tool: yPredict’s chart recognition tool quickly identifies over 25 trading chart patterns for several crypto coins.

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Backlink estimator and keyword tool: yPredict also provides its users with a backlink estimator, an advanced analytical tool.

This tool helps predict backlink count, providing traders with oversight of the market competitors. Also, yPredict’s editor produces important keyword suggestions for crypto trading and analytics.

It implies that users can quickly launch crypto-affiliated searches relevant to their interests from the platform.

YPRED Presales A Success Story

YPRED is currently on presale and in its sixth stage. The presales are a success, with $2.88 million raised from its goal of $2.98 million in this stage.

Eventually, YPRED will list at $0.12 on exchanges rewarding its early investors. Currently, each token is worth $0.09 and is still quite affordable.

YPRED runs on the Polygon network. Users can acquire these tokens with MATIC, BNB, or USDT. It also supports direct purchases using a bank card. YPRED has a total supply of 100 million tokens; the market cap at listing is approximately 6.5 million.

Currently, there are over 20,000 users on the waitlist, hoping for its eventual launch. Based on the project’s relevance in the crypto space, it will likely increase in value once it trades in the open market.

A late accumulation phase is ongoing as investors hope to gather sufficient tokens at the current value of $0.09.

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