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This year has been a tough sail for Rocket Pool since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of RPL.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Rocket Pool to reclaim its all-time high in 2023? Continue with the article to learn about Rocket Pool price analysis and prediction by Coinpaper.
Read also: Shanghai upgrade to allow ETH withdrawals could launch in March 2023
What is Rocket Pool?
Rocket Pool is a decentralized Ethereum staking pool that allows anyone to earn staking rewards on their ETH deposits as small as 0.01 ETH or run their own node with only 16 ETH. The protocol is powered by smart contracts that help assign deposits for staking to decentralized node operators who do the staking for Rocket Pool users. The protocol’s native token RPL can be staked on a Rocket Pool node to provide the extra layer of security to the pool.
Rocket Pool (RPL) price
Currently, Rocket Pool Price is USD. RPL has a circulating supply of coins and a total supply of . If you are looking to buy or sell Rocket Pool, Binance is currently the most active exchange.
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Rocket Pool price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Rocket Pool 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Rocket Pool price at $54.19 to $63.29. On the flip side, a fading interest in the new meme coin may push the price of Rocket Pool to $36.5-$23.46 lows.
Rocket Pool price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Rocket Pool (RPL) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Rocket Pool to climb as high as $68.98, with the more distant prospect of reaching $76.29 in 2024. The bearish scenario is likely to see Rocket Pool (RPL) trading between $54.15 and $49.23 in 2024.
Rocket Pool price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Rocket Pool (RPL) price analysis and prediction is based on pure speculation and observation of Rocket Pool historical price movements.
Our Rocket Pool 2025 price forecast expects RPL to rally towards $84.37 and reach $91.38 by the end of the year. The bearish scenario would see Rocket Pool at $65.37 to $59.38.
Rocket Pool (RPL) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Rocket Pool is neutral. In 2026, we expect Rocket Pool to reach at least $115.1 before climbing higher to $132.84. In case of a bearish scenario, Rocket Pool may fall to $91.92.
Is Rocket Pool (RPL) a good investment?
Since RPL token has a solid utility case as a native token of the rising liquid staking protocol, it can be a good addition to the altcoin allocation in your portfolio. Moreover, the token has a potential to greatly appreciate in value after Shanghai upgrade will enable staked ETH withdrawals, which in theory would draw more people to staking on Rocket Pool. However, bear in mind that investing in cryptocurrencies carries a high degree of risk, so make sure to do your own research before investing in any token.
Bottom line
Are you ready to invest in Rocket Pool? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy RPL from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Rocket Pool?
Rocket Pool was launched in 28 by David Rugendyke, a senior developer with a computer science background.
What was the all-time high for Rocket Pool (RPL) ?
The all-time high price of Rocket Pool is $ on 2021-11-09
