- Ren (REN) price prediction ranges from $0.1143 to $0.3963.
- Analysis suggests that the REN price might reach above $1.5 soon.
- The REN bearish market price prediction for 2022 is $0.0757.
Apart from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and gain experience with new cryptocurrencies. Ren (REN) is one of them.
Ren (REN) is an Ethereum token that enables Ren’s open protocol for transferring coins between blockchains. Ren intends to integrate popular assets such as Bitcoin and Zcash to blockchains such as Ethereum, allowing them to participate in a multi-chain decentralized finance environment.
If you are interested in the future of REN and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030 – keep reading!
What is Ren (REN)?
Ren (REN) is an open protocol that facilitates interoperability and liquidity among various blockchain systems. Ren, formerly known as Republic Protocol, debuted RenVM, its virtual machine mainnet, in May 2020 after raising $34 million in an initial coin offering (ICO) in 2018.
The protocol’s native token, REN, serves as a bond for the running nodes that power RenVM, referred to as Darknodes. Ren’s goal is to increase the interoperability and, thus, accessibility of decentralized finance (DeFi) by lowering barriers to liquidity between blockchains.
Ren is a sophisticated platform with numerous use cases, but it is ultimately intended to overcome entry and financial constraints for DeFi projects.
DeFi projects can add foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) to their services as a plug-in. More broadly, users can effectively swap any token between any two blockchains without the need for intermediaries such as “wrapped” versions of tokens such as Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH).
Ren charges numerous internal operations fees, most of which are paid to miners rather than Ren. As an ERC-20 token, REN is subject to changing gas fees in order to power transactions.
RenVM is a fault-tolerant byzantine technology that enables ECDSA threshold key creation and signature using secure multi-party computation (sMPC). RenVM can now securely handle (ECDSA) private keys on multiple blockchains, allowing tokens to be transferred between them (i.e., interoperability).
Ren (REN) Current Market Status
Ren (REN) is now trading at $0.1136 with a total market capitalization of $113,413,745.80 at the time of writing. According to CoinMarketCap, Ren is ranked 177 in terms of market capitalization. In addition, the price has decreased by 5.64 percent in the past 24 hours. The 24-hour trading volume of Ren has increased by 323.81 percent to $50,348,459.15.
Ren can be traded on major cryptocurrency exchanges, including Binance, FTX, Coinbase Exchange, Bithumb, Huobi Global, and KuCoin.
Ren (REN) Price Analysis 2022
Will Ren’s (REN) most recent improvements, additions, and modifications help the REN price rise? First, let’s focus on the charts in this article’s REN price forecast.
Ren (REN) Price Analysis – Keltner Channel
The Keltner Channel may be used to identify a trend when the asset’s price is plotted between two volatility bands. Ren (REN) price may be predicted using Keltner Channel indications for REN/USDT. Ren is in the channel’s second half, meaning more people are selling REN. Waiting for a few retrace candlesticks can increase the reward-to-risk ratio and provide investors with a better risk-free situation.
Ren (REN) Price Analysis – Relative Strength Index
The value of the 1-day chart is 41.21. The RSI value is under 50, indicating more sellers are selling REN rather than buying it according to the reading of the RSI indicator. After reaching the RSI level of 75.58, which can be known as close to the overbought zone, the price fell back and is now trading at $0.1130. But for a better risk-to-reward ratio, investors should consider a few confirmation candlesticks and patterns before investing or entering the trade.
Ren (REN) Price Analysis – Moving Average
A 1-day Ren (REN), 200-day, and 50-day Moving Averages (MAs) chart is displayed above. The above chart demonstrates that REN is now trading below the 200-day and 50-day moving averages.
However, REN is trying to rise above the 50-day moving average at the time of writing. If that happens, we can see bullish movement for REN. Investors might improve their risk-to-reward by waiting for a few confirmation candles and patterns before making a trade.
Ren (REN) Price Prediction 2022
The daily chart of REN/USDT shows that REN is now trading inside a symmetrical triangle. REN is now trading near the lower trendline of the triangle. Moreover, if REN breaks out of the triangle and rises higher, it can reach its previous resistance level of $0.2457. Therefore, Ren (REN) price prediction for 2022 is still bullish.
Ren (REN) Price Prediction – Resistance and Support Levels
Looking at the Ren 1-Day chart, Ren’s price has decreased over the past months since September 2021. Moreover, Ren has been fluctuating between $0.1017 to $0.1319 within the previous 30 days. However, REN has had a pullback of 4.21% within the past 24 hours. If Ren tends to fall deep, Ren might reach the last level of support of $0.1086, and breaking that support level might lead to $0.0583.
REN might reach the prior resistance level of $0.2878 if the bulls can regain their footing in the present bearish market and push the price higher.
Ren (REN) Price Prediction 2023
There is a chance that Ren (REN)’s RSI will be above 70 by the end of 2022, indicating a strong bullish trend that should see prices over $0.2878 by 2022. Therefore, we should anticipate a minimum REN price increase of $0.3693 by the end of 2023.
Ren (REN) Price Prediction 2024
The Bitcoin supply will be cut in half by 2024. Consequently, we should anticipate a favorable market trend as a result of user sentiment and investors’ desire to acquire more of the coin. Due to the impact of Bitcoin’s price swings on the value of other cryptocurrencies, it is reasonable to anticipate that REN will be worth at least $0.5510 by 2024.
Ren (REN) Price Prediction 2025
If most cryptocurrencies can overcome psychological barriers in the aftermath of Bitcoin’s price halving in 2024, we can expect REN to trade at a premium to its 2024 pricing. As a result, REN may be worth roughly $0.8447 by the end of 2025.
Ren (REN) Price Prediction 2026
As more and more institutional investors flock to the REN platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of REN may reach $1.0537 by 2026, even though the coin has generally depreciated during the same period.
Ren (REN) Price Prediction 2027
The halving of Bitcoin in 2028 will likely trigger a bull market. As a result, if investors remain hopeful, the price of REN may continue to rise and maybe breach previously established hurdles. Ren (REN) may be worth $1.3200.
Ren (REN) Price Prediction 2028
Bitcoin will be halved in 2028. It is anticipated, a bullish run could happen before the market settles down in 2027. As a result, REN’s potential ATH value of $1.6584 by 2027’s end is not out of the question.
Ren (REN) Price Prediction 2029
By 2029, the majority of cryptocurrency values may have been stable for nearly a decade, owing to the application of lessons learned to secure the sustained faith of investors in the project. Because of this effect and the additional price increase that occurs a year after Bitcoin’s price halves, the price of REN might reach $1.8351 by 2029.
Ren (REN) Price Prediction 2030
The cryptocurrency market was stable because early investors held on to their assets so they wouldn’t miss out on future price gains. By the end of 2030, the price of Ren (REN) could be around $2.5643, despite the bearish market that followed a market boom in the early years.
Conclusion
REN might reach $0.2878 in 2022 and $2.5643 by 2030 if investors decide that REN is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
Ren (REN) is an open protocol that facilitates interoperability and liquidity among various blockchain systems. Ren, formerly known as Republic Protocol, debuted RenVM, its virtual machine mainnet, in May 2020 after raising $34 million in an initial coin offering (ICO) in 2018. The protocol’s native token, REN, serves as a bond for the running nodes that power RenVM, referred to as Darknodes. Ren’s goal is to increase the interoperability and, thus, accessibility of decentralized finance (DeFi) by lowering barriers to liquidity between blockchains.
REN can be traded on many exchanges like other digital assets in the crypto world. Binance, FTX, Coinbase Exchange, Bithumb, Huobi Global, and KuCoin are currently the most popular cryptocurrency exchanges for trading REN.
Since REN provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2022. Notably, REN has a high possibility of surpassing its current ATH in 2030.
There aren’t many crypto assets still appreciating, but REN is among the ones rising in value. As long as this bullish trend continues, REN might break through $0.6979 and reach as high as $1. Of course, if the current market favoring crypto continues, it will likely happen.
REN is expected to continue its upward trend as one of the fastest-rising cryptocurrencies. We may also conclude that REN is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.
The lowest price of REN is $0.01548, attained on November 27, 2018.
REN was launched in May 2020.
Taiyang Zhang co-founded REN.
The maximum supply of REN is 1,000,000,000 REN.
REN can be stored in a cold wallet, a hot wallet, or an exchange wallet.
REN price is expected to reach $0.3693 by 2023.
REN price is expected to reach $0.5510 by 2024.
REN price is expected to reach $0.8447 by 2025.
REN price is expected to reach $1.0537 by 2026.
REN price is expected to reach $1.3200 by 2027.
REN price is expected to reach $1.6584 by 2028.
REN price is expected to reach $1.8351 by 2029.
REN price is expected to reach $2.5643 by 2030.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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