Loopring price jumps by 14 %because the daily volume skyrocket
Loopring price jumps by 14 %because the daily volume skyrocket
- LOOPRING (LRC) has increased by more than 14% in the last 24 hours.
- The native token of the Ethereum-based Layer 2 scaling solution also recorded a massive increase in daily trading volume.
- If the bulls keep their profits, the LRC Prize could at short notice the mark of $ 0.44.
LOOPRING (LRC), the native token of the Ethereum-based Layer 2 scaling solution, has risen by 14% in the last 24 hours, accompanied by a remarkable increase in the commercial volume.
According to data from CoinmarketCap, the LRC Prize currently fluctuates by $ 0.1058, which indicates a new interest in the decentralized financial protocol (Defi).
The increase in LRC, which goes hand in hand with a massive increase in volume, follows the recent announcement of Loopring via its official defi documents that highlight innovative merit and trade solutions.
But could that drive the LOOPRING price higher?
LOOPRING Prize reaches monthly high
As the data from CoinmarketCap show, the 14%price increase loopring has catapulted over $ 0.10.
The profit goes hand in hand with an enormous increase in commercial activity, whereby LRC has increased by 2,600% to over 204 million in the 24 hours, at the time of the creation of this report.
While other coins have recorded similar increases, this indicates that investors become aware of the latest developments in Loopring.
The focus of the project on redefining Defi with a CEFI-like experience and at the same time keeping a trustless environment seems to be well received by the community.
It combines with Looprings Zkrollup technology, which enables faster and cheaper transactions to Ethereum to display again again.
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- loopring💙 (@loopringorg) 2. May 2025
lrc price forecast
From a technical point of view, Loopring shows signs of a potential outbreak.
The token tries to break away from the lower limit of a falling wedge pattern.
A look at the weekly period shows this setup, which is normally considered bullish by analysts.
If this bounce is confirmed, LRC could increase in the middle period towards $ 0.31 and $ 0.44.
Such a movement would be a significant recovery for the token, with the projection with the historically observed pattern of a falling wedge.
It typically signals a reversal after a downward trend.
However, the broader market development will play a crucial role.
On the negative side, failure to break beyond this level could lead to LRC testing the support at $ 0.07 and possibly at $ 0.02.
The fundamental data from Loopring, such as the focus on defi innovations and layer 2 scaling, offer a strong argument for growth.
Nevertheless, investors will probably remain careful in view of the inherent risks of the cryptoma market, including regulatory developments and market volatility.