After a difficult first half for most virtual currencies in the market, it is time to understand what could happen with XYO. This virtual currency was one of the last to reach an all-time high after being in the market for many years and investors are now wondering what could happen with it.
Let’s understand what XYO is, how it works and which are the best XYO Price Predictions for the coming months and years. This is definitely going to be a very interesting thing to analyse as the crypto market changes on a regular basis deepening on different macro events.
The XYO project is considered to be a technology protocol that improves the validity, certainty, and value of data, according to XYO’s official site. The company is working on a new data marketplace that would let users rely on a gold standard for any applications, websites, and blockchain technology.
The XYO network is built on top 4 distinct components: Sentinels, Bridges, Archivists and Diviners. Thanks to the effort provided by each of these components, the whole network is capable to provide a fully decentralized experience.
XYO works with a token called XYO that runs on the Ethereum network. Nowadays, the token is listed in some of the most recognized exchanges.
XYO continues to expand in the market. According to Coin Commit, XYO is the third project with the most developers working on different initiatives. This is something positive taking into consideration that the bear market continues for several digital currencies.
At the same time, XYO is also the top 3 most active crypto project by Github commits. This is something that shows the involvement that the team behind XYO has. In the future, this could be a very important thing as the project continues to develop new solutions and improve the network even during a bear market.
When it comes to price, this was a project that was most of the time below the launching price. Therefore, between mid-2018 and early 2021, the price of this coin was below $0.0005. Things of course changed when the whole crypto market entered a new bull trend. Indeed, the coin surged in early 2021 to $0.008 but without being able to cross $0.01.
XYO surged above $0.01 in August 2021, and it continued towards $0.04 in September. By mid-November, this coin was traded above $0.07, where it registered an all-time high. This was the moment in which Bitcoin was traded at $69,000.
When the bear market started for the whole crypto ecosystem, XYO was also affected. Indeed, the coin fell from this all-time high to below $0.009. Therefore, it will be very important to see what could happen with this digital asset in the future and what experts say about it.
To understand what could happen in the future with XYO, we need to see what experts say about the future of this virtual currency. Therefore, we have selected some of the most recent technical analyses for the XYO/USDT trading pair. This is what experts say:
- For this technical XYO/USDT analyst, the virtual currency should have moved higher in early 2022, something that did not happen. The coin entered a bear trend like the whole crypto market that pushed the price of this coin close to $0.00666. Throughout the way down, we see that there are different support and resistance levels as well. Some of them were very useful to sustain the price of this virtual currency.
2. This analyst was looking at the $0.03 support level that allowed XYO to move higher in late 2021. Despite this last bounce in 2021, the coin fell below this support level in early 2022, testing this price region and transforming it into resistance. But the bear trend continued until today, where we see that there is an accumulation phase taking place.
3. For this cryptocurrency analyst, there were some important support and resistance levels that have been tested over the last few months. When the market reached a top in 2021 at $0.08, there was strong resistance to this coin. Then, there were other important support levels, including $0.02586 and $0.01364. These levels have been broken in recent months and the market needs to show that it will start to move higher in the near future.
4. This expert showed that the virtual currency could have entered a parallel channel in early 2022, and this is what happened. The coin entered this parallel channel between $0.02556 and $0.001734, allowing the virtual currency to stay afloat for the first months of 2022. Nonetheless, as the market continued falling, the support level at $0.01734 broke and the coin continued falling.
5. This XYO/USDT analyst showed that it was possible for the virtual currency to start moving higher but the coin continued with the bear trend that the whole crypto market was experiencing. The targets shared by this analyst included the region between $0.06 and $0.068 per coin.
As mentioned in this post, XYO is an ERC-20 cryptocurrency that is listed on some of the most used and popular virtual currency exchanges in the world. The token can be purchased by investors and staked against ERC-721 tokens that represent real-world locations.
At the same time, the token is used to incentivize network participants in order to provide reliable services over time. The token can also be used by investors that want to speculate on its price.
Considering that the market continues to be in a bear trend, it is quite difficult to predict a very high price for XYO. It might be possible for this virtual currency to recover part of the price that it lost throughout 2022, however, we need to understand how the market will behave in the future.
A realistic price prediction for 2022 for XYO could be a range between $0.0045 and $0.025. As you can see, the range is quite big, hence any price inside this range could be a decent price prediction for XYO this year.
But could XYO reach a price per coin of $1? It might be very difficult to do so. If that happens, the total market valuation of this project should skyrocket to almost $14 billion, if it would happen overnight. Nevertheless, as there is no information on which is the total supply of XYO, it is also difficult to understand if that’s a possibility in the future.
Despite the fact that it can be quite difficult for XYO to hit $1 per coin, we could see XYO surpassing $0.10 and reaching even higher values if there is a new bull market in the coming months and years. Otherwise, we should follow what happens in the above-mentioned price range.
Based on the estimations, here are the following price predictions for XYO.
- XYO price prediction for 2022: $0.0045 – $0.025
- XYO price prediction for 2023: $0.002 – $0.07
- XYO price prediction for 2024: $0.0005 – $0.10
- XYO price prediction for 2024: $0.0005 – $0.25+
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