Ravencoin had a minor price rally in early January, but what’s the latest Ravencoin price prediction?
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Ravencoin is one of the more interesting concepts in cryptocurrency. With an up-and-down price history, is it possible to make an accurate ravencoin (RVN) price prediction?
Ravencoin (RVN) is the native coin of the Ravencoin blockchain. This blockchain, which is based on the Bitcoin code, allows people to create their own tokens by burning ravencoin. The company’s white paper elaborates further: “Ravencoin is built on a fork of the Bitcoin code. Key changes include a block reward time of one minute, a change in the number of coins issued, but not the weighted distribution schedule and the addition of asset creation and messaging capabilities.”
You can find out more about Ravencoin and its native currency in this article.
Ravencoin’s early price history
Before we go into the ravencoin prediction, let’s take a look at its history. While past performance is no guarantee of future results, one thing to note about ravencoin’s price history is that it has experienced a lot of peaks and troughs since it first launched in 2018.
This is not one of those coins that was stuck in the same range for a length of time before booming. Instead, its first year or so of open trading is a good example of the kind of volatility involved in cryptocurrency.
On 10 March 2018, ravencoin opened at $0.0265 before hitting an intraday high of $0.0343 on 12 March. What looked like an initial boost turned away, though, and it fell to an intraday low of $0.0171 on 18 March. There was some encouragement when it reached an intraday high of $0.07292 on 27 March, having had an intraday low of $0.03627. This means that it more than doubled in mere hours before falling back down to close at $0.06977.
Ravencoin then settled down to trade at around the $0.03 mark until 4 May, when it hit an intraday high of $0.05779 before slumping to close at $0.02933 on 7 June. It stayed around this level for a while until October 2018, when it shot up again, trading at $0.06079 intraday on 23 October. The RVN price then fell, dropping below $0.03 on 14 November, and again below $0.02 on 22 November. It broke back through that level on 27 November, then fell again on 2 December. It didn’t get back above that level until 3 March 2019, when it closed at $0.02371.
Ravencoin then went through a bit of a boom period, reaching an intraday high of $0.06928 on 29 March, up 192% from a few weeks earlier. On 7 April 2019, it reached a high of $0.07414.
Then the RVN price started to dwindle, reaching an intraday low of $0.04114 on 10 May before hitting a high of $0.08026 on 3 June. Then it slowly entered a downward trend. This downward trend continued for some time, and between 4 November 2019 and 3 February 2020, it stayed below the $0.03 mark. While it spent most of February 2020 above that point, it fell down again at the end of the month.
On 13 March, RVN reached its all-time low, falling to $0.008794 in intraday trading. There was a recovery of sorts and it closed that day at $0.01435. It stayed somewhere between one and two cents until 24 May, when it hit an intraday high of $0.02045.
The RVN hovered around $0.02 until the end of September 2020, when it fell below that point again and did not recover until 29 January 2021, when it closed at $0.02704.
RVN price history in 2021 and 2022
The early part of 2021 was a boom time for cryptocurrency, and ravencoin became caught up in the market’s general excitement. On 30 January, RVN reached an intraday high of $0.03915. While it was soon back below $0.03, it went back up to close at $0.03006 on 5 February.
There was more growth to come, and it broke through $0.04 on 9 February, hitting an intraday high of $0.05337 the following day. It wasn’t stopping there, though – on 18 February, RVN reached an intraday high of $0.1005, breaking through the 10 cent barrier for the first time.
After that, the coin’s price kept growing, setting an all-time high on 20 February when RVN more than doubled to reach $0.2854. Although it could not quite sustain that price level, the coin hovered around $0.20 before hitting $0.2639 on 14 April.
Again, however, the coin could not maintain that level and hovered around $0.15 before the great crypto day crash of 19 May. At that point, ravencoin had an intraday high of $0.132, followed by a 57% price drop to $0.05649, before it recovered to close the day at $0.08647.
RVN’s price then stayed below its pre-crash high for some time until 10 August, when it reached a high of $0.1412. It then grew to $0.1769 the following day and, despite some dips, maintained a price close to where it had been before the events of 19 May.
RVN was trading at roughly $0.11 on 25 November, and at almost $0.08 by 20 December 2021. Many cryptocurrencies struggled over the fourth quarter of 2021 as a result of both imposed and potential regulations, and the Omicron variant of Covid-19 looming large over global markets.
By the New Year, the coin was worth about $0.10. A brief high was seen on 4 January 2022, with a slight rally to just over $0.13. At the time of writing on 28 January, the coin was worth approximately $0.67, up by 2.27% from its previous close. Is a recovery on the cards? According to data gathered, the RSI is indicating a good time to buy. However, the simple moving averages remain firmly in the sell position. A panel of indicators at DigitalCoinPrice has 14 suggesting a sell position, nine a hold position, and three a buy position.
So that’s the coin’s past, right up to the present moment. But what of the future? What is the ravencoin price prediction? Let’s see what other analyst sites are predicting.
RVN price prediction
First, WalletInvestor’s artificial intelligence-derived ravencoin price prediction is for RVN to reach $0.13 in a year’s time and $0.40 in five years’ time.
Next, DigitalCoinPrice’s ravencoin price prediction for 2022 is for the coin to stay below 10 cents for the rest of the year, reaching average monthly highs of $0.099 in October. The ravencoin price prediction for 2025 is for the coin to be worth around $0.14.
Finally, Gov.Capital’s custom algorithm says that RVN should progress in the crypto markets. Its ravencoin price prediction for 2022 suggests ravencoin should go beyond $0.10 towards the end of February. It 2025 the coin could break $0.50 barrier in February: a markedly more optimistic projection than other forecasts.
A ravencoin price prediction for 2030 can be found at PricePrediction.net, suggesting a maximum value of $2.00.
FAQs
There is some truth to the saying that a rising tide lifts all ships, with the fortune of individual coins rising and falling with the cryptocurrency market as a whole.
RVN is an interesting development for people who think that there is potential for a Bitcoin-based blockchain that allows people to make their own tokens.
It is possible that this is just a blip, and the market could correct itself. Be careful – always make sure you do your own research before you invest.
It might. But if it does, it’s unlikely to be for a long time. Most ravencoin (RVN) price predictions suggest a slow development, with little evidence that the coin will reach a dollar.
That is not to say that it cannot ever reach $1 – just that it is not likely to happen for a long time.
It might be. We do have to issue a word of warning here, though. While the forecasts are generally optimistic with uptrends, it is worth pointing out that forecasts are very often wrong.
If you want to invest in ravencoin, you will need to do your own research. Remember that cryptocurrencies are extremely volatile, and like RVN’s price history, can go down as well as up. You should never invest more money than you can afford to lose.
