Rocket Pool (RPL) Price Prediction 2024-2030: Will RPL Price Hit $70 Soon?

• The bullish RPL price prediction ranges from $53.097 to $56.866
• RPL price might also reach $70.002 in 2024.
• RPL’s bearish market price prediction for 2024 is $15.834.

Conceived in late 2016, RocketPool (RPL) is a decentralized ETH staking protocol operated by the community. This project was formed to cater to two main types of user groups — users who wish to participate in tokenized staking using rETH and those who wish to stake ETH and run a node in the network. 

As highlighted in their mission goals, Rocket Pool was formed to employ the core concepts of Ethereum and DeFi, specifically their non-custodial, trustless nature. Dubbed the backbone of the protocol, the RPL token is now a “multifaceted component” of the protocol, providing direct incentives, insurance, and governance services.

If you are interested in the future of Rocket Pool (RPL) and want to know the price analysis and price prediction of RPL for 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Rocket Pool (RPL) Market Overview

What is Rocket Pool (RPL)?

Rocket Pool is a decentralized platform that allows users to earn high returns on their Ethereum holdings by participating in staking. Users can join the platform’s decentralized node operator network or run their own nodes. By providing RPL collateral, users can earn a commission from staking ETH and additional RPL rewards.

The platform offers liquid staking, which allows users to benefit from an increasing exchange rate without incurring taxes. Additionally, Rocket Pool offers smart nodes, which are custom node software that minimizes risk by socializing losses across the network. The platform’s open-source and audited smart contracts ensure fully non-custodial staking and maximum decentralization.

In essence, Rocket Pool allows everyone to stake ETH2, regardless of their financial capacity or level of technological competence. The main idea behind it is to make it possible to stake ETH in an untrusted manner to a network of autonomous, decentralized nodes supported by RPL collateral.

In Rocket Pool’s view, staking-as-a-service suppliers are not a replacement for them. These providers have the option to join Rocket Pool and host a node, for which they are compensated in ETH and RPL, in order to increase returns. 

Users receive rETH in exchange for staking their Ether, and rETH automatically accumulates staking incentives based on the performance of the network’s node operators as a whole. Through insurance procedures, the value of rETH is guarded against devaluation, and node operators stake RPL on nodes as collateral for any fines they may face.

Node Staking is the second way to engage with Rocket Pool. Based on the availability of ETH and the supply and demand for node operators, Rocket Pool dynamically modifies its commission rate. With this concept, node operators are compensated for offering stakeholder insurance in the event that they are fined or subject to budget cuts. Additionally, RPL must be deposited as collateral in the minimum amount by node operators.

Rocket Pool is a decentralized Ethereum staking pool that uses the ERC-20 token RPL. The protocol has undergone thorough security audits by multiple firms and runs a bug bounty program to ensure its safety. The governance of the protocol is divided between two decentralized autonomous organizations (DAOs) – the Protocol DAO and the Oracle DAO. 

The Protocol DAO manages settings such as RPL inflation, rewards, and staking requirements, while the Oracle DAO acts as a bridge between the smart contracts on the Beacon Chain and the ETH1 main chain. The Oracle DAO is made up of several notable Ethereum-staking clients, including Lighthouse, Nimbus, Prysm, ConsenSys Codefi, Blockchain Capital, and Bankless.

Analysts’ Views On Rocket Pool

A tweet on Twitter explaining about how 3 addresses were able to make money before RPL got listed on Binance. 

We can also see that there are a few plays in RPL by degen in the field.

Also there are a few tweets by this crypto analyst mentioning that RPL can catch up to LIDO.

Rocket Pool (RPL) Current Market Status

At the time of writing, RPL is now trading at $31.40 with a total market capitalization of $627,734,819. RPL sits in 94th place on CoinMarketCap in terms of market capitalization. Moreover, there has been a price surge of 3.99% in the past seven days.

Meanwhile, RPL’s 24-hour trading volume is valued at $16,987,052 after observing a massive spike of 141.51%. RPL can be traded on major cryptocurrency exchanges such as Binance, Coinbase, Uniswap, Gate.io, OKX, and Kraken.

Rocket Pool (RPL) Price Analysis 2024

Currently, RPL is ranked in the 94th position on CoinMarketCap. Will developments and upgrades within the Rocket Pool protocol lead to a rise in the price of Rocket Pool (RPL)? We shall see this in this Coin Edition price analysis 2024 article.

Rocket Pool (RPL) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. 

It seems that RPL faced a rigorous price retracement in response to its sudden surge in the past. During the downtrend, RPL mostly stayed in the bottom half of the Bollinger Bands as the prices kept on dropping. By the last week of September, the candlesticks recorded a slight surge in its prices and also broke above the upper band. Although RPl faced a slight retracement in response to its actions in breaking the upper band, the candlesticks have now moved into a consolidation phase.

This consolidation can be further confirmed by the upper and lower band’s horizontal positions. Additionally, the BBWP is valued at 52.38% as it is in the neutral position. The BBWP has already remained in this area for some time, signaling that the bands would neither expand nor contract. Ideally, if continuous upward momentum happens, the market could become volatile. 

Rocket Pool (RPL) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as an overbought region, and traders expect the price to fall soon.

The RSI indicator is currently valued at 58.09, which is still considered neutral by some analysts. If the RSI crosses the 60 region, there may be a chance that the buyers could increase the price of RPL. Meanwhile, the bullish crossover is often seen as a positive sign as investors expect to form new higher highs. As such, the upcoming RSI indicator’s momentum will be crucial in speculating RPL’s trend.

Rocket Pool (RPL) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will make the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at the 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role, as it can confirm trends and identify potential reversals.

The MACD indicator also highlights that the candlesticks were moving in a consolidation phase as red and green bars continued to form at regular intervals. Meanwhile, the MACD line is almost touching the signal line and could cross above it in the short term. If the MACD line crosses above the signal line and continues to move upward, this could be a signal that RPL is moving into the uptrend market.

Rocket Pool (RPL) Price Prediction 2024

Looking at the above chart, it seems that candlesticks’s downtrend may have been caused by a natural reaction to the bearish rectangle pattern. The earlier downtrend has pushed RPL below the $22 support level. However, it was able to claw its way out of the bearish pothole and once again stay above the support line. Currently, the RPL has positioned itself between $33.35 and $25.89 and could be getting itself ready to continue the bullish trend. After analyzing the length of the current flagpole, RPL could move into the $42.31 target in the first quarter of 2024. 

RPL has shown an incredible performance in last year’s first quarter. Expecting a similar action, especially in the anticipated 2024 market, the altcoin could easily cross its previous yearly high and even reach $70. However, if, by chance, RPL does experience a surge, it may even fall back to the danger zone, as highlighted in the chart. 

Rocket Pool (RPL) Price Prediction – Resistance and Support Levels

Before 2024, RPL was able to recover from its previous fall, creating a good setting for a bull run. If the bull run does happen, it was expected that a massive surge would boost RPL’s strength by breaking the first resistance level. Subsequently, RPL would move on to the next level as it broke another resistance level. RPL may reach the $70 level only if it showcases an extremely bullish price action. However, a slight retracement may also be expected in such scenarios.

Rocket Pool (RPL) Price Prediction 2025

RPL could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, RPL will continue to rise in 2025, forming new resistance levels. It is expected that RPL will trade beyond the $82 level.

Rocket Pool (RPL) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, RPL could tumble into its support region of $64.39. Moreover, when RPL remains in the oversold region, there could be a price correction soon. RPL, by the end of 2026, could be trading beyond the $94 resistance level after experiencing the price correction.

Rocket Pool (RPL) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears’ claw. RPL is expected to rise after its slumber in the bear season. Moreover, RPL could even break more resistance levels as it continues to recover from the bearish run. Therefore, RPL is expected to trade at $101 by the end of 2027.

Rocket Pool (RPL) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, RPL will continue to form new higher highs and is expected to move on an upward trajectory. Hence, RPL would be trading at $139 after experiencing a massive surge by the end of 2028.

Rocket Pool (RPL) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, RPL could be trading at $155 by the end of 2029.

Rocket Pool (RPL) Price Prediction 2030

After witnessing a bullish run in the market, RPL and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, RPL could be trading at $152.

Rocket Pool (RPL) Price Prediction 2040

The long-term forecast for RPL indicates that this altcoin could reach an all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, RPL may face a slight fall before starting its upward journey once again. It is expected that the price of RPL could reach $342 by 2040.

Rocket Pool (RPL) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, RPL could surpass the resistance level of $631.

Conclusion

To summarize, if investors continue to show interest in RPL and add these tokens to their portfolio, then it could continue to rise. RPL’s bullish price prediction shows that it could pass beyond the $56 level in 2024. Moreover, RPL could surpass the $599.17 level by the end of 2050. 

FAQ

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.