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Ronin Price Prediction 2024: RON Rises 20% in a Week, Where Will It End Up?

Last Updated May 23, 2024 9:56 AM
Giuseppe Ciccomascolo
Last Updated May 23, 2024 9:56 AM

Key Takeaways

  • Ronin’s RON token reached $3 for the first time in two years in early 2024.
  • Ronin recently launched an airdrop campaign offering participants $500.
  • One price prediction says it may reach $8.57 next year.

Gaming blockchains are engineered with a focus on minimizing transaction fees and maximizing transaction throughput, making them, at least in theory, more cost-effective and scalable than mainstream blockchains like Bitcoin and Ethereum. In addition, some gaming chains operate as private networks, requiring developers to obtain approval from the creators to participate in the ecosystem.

One such example is Ronin, which currently operates as a private blockchain but has plans to open its doors to more studios in 2024. In the interim, games like Pixels and Axie Infinity are flourishing on Ethereum sidechains.

Ronin recently launched an airdrop campaign offering participants $500 along with governance tokens, granting them a voice in future project decisions. This airdrop presents an exciting opportunity for enthusiasts of decentralized finance and community-driven initiatives.

The coin jumped in the first part of 2024 and reached an all-time high in mid-March, before retracing. Now, it’s up by 20% in a week, can it continue to grow?

On May 23, 2024, RON is worth $3.21.

Ronin did not respond to a request for comment

But what is Ronin (RON)? How does Ronin work? Let’s see what we can find out, and also take a look at some of the Ronin price predictions that were being made as of May 23, 2024.

Ronin Price Prediction

Let’s examine some of the Ronin price predictions being made on May 23, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $7.05 $8.26 $24.01
Prediction #2 $3.61 $5.39 $35.37
Prediction #3 $2.47 $8.57 $58.24

First, CoinCodex  had a short-term Floki price prediction that saw the coin reach $2.93 by May 30 before decreasing to $2.87 by June 22. The site’s technical analysis was bullish, with 26 indicators sending encouraging signals and five making bearish ones.

Ronin Price Prediction for 2024

DigitalCoinPrice  said that Ronin would reach $7.05 this year. PricePrediction.net   thought the token would trade at $3.61. Changelly  argued RON would be valued at $2.47 by the end of the year.

Ronin Price Prediction for 2025

Moving on, Changelly thought Ronin would trade at $8.57 in 2025. DigitalCoinPrice had the token coming in at $8.26 that year. PricePrediction.net said RON would be worth $5.39 next year.

Ronin Price Prediction for 2030

Looking at a more long-term Ronin price prediction, PricePrediction.net said the token would hit $35.37 in 2030. Changelly suggested it would reach $58.24 that year. DigitalCoinPrice made a RON price prediction that had it trade at $24.01 at the start of the next decade.

Google Gemini Price Prediction for Ronin (as of May 23)

Google’s Gemini platform gave the following price prediction for Ronin on May 23. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected Price: $2.98
  • Factors to Consider:
    • Market trends: The overall cryptocurrency market can significantly impact Ronin’s price.
    • News and developments: Positive news about Ronin or its underlying technology could lead to a price increase.
    • Regulations: Changes in government regulations related to cryptocurrency could affect the price.

Medium Term (Next six months)

  • Expected Price: $2.25
  • Factors to Consider:
    • News and Events: Major news or events related to Ronin or the cryptocurrency market in general could significantly impact the price.
    • Regulations: Changes in government regulations related to cryptocurrency could also affect the price.
    • Overall Market Trends: The broader trend of the cryptocurrency market will likely influence Ronin’s price.

Long Term (Next five years)

  • Expected Price: $3.14
  • Factors to Consider:
    • Developments with the Ronin project and its technology.
    • Adoption and usage of Ronin.
    • Overall cryptocurrency market trends.
    • Regulations and legal landscape.

Recent Updates from Ronin

On April 17, 2024, Ronin announced  the integration of Ragnarok. It said: “Ragnarok is more than a game: it’s one of the most iconic gaming universes in the world. It’s a billion-dollar transmedia IP that has amassed over 68 million players across its various titles. It’s a beloved franchise that captivated a generation of gamers around the world.”

Ronin Price History

Now, let’s examine the Ronin price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Ronin price prediction.

RON first came onto the open market in January 2022, when it was worth about $3.5086. It then started falling, reaching the lowest level of $0.22 in June that year, moving sideways for almost one year. RON regained $1 again in March 2023, starting an uptrend still ongoing. Ronin was worth $2.84 on February 5, 2024, and stayed low for the rest of the month.

The coin’s price increased notably in March, reaching a new all-time high of $4.41 on March 13, 2024, before slumping and hitting $3.21 on May 23, 2024.

RON price history
RON price in 2023 and 2024. | Credit: CoinMarketCap
As of May 23, 2024, there were 324.3 million RON in circulation, out of a total supply of 1 billion. This gave Ronin a market cap of about $1 billion, making it the 85th largest crypto by that metric.

Ronin Historical Price Data

Period Ronin Price
May 23, 2024 $3.21
May 16, 2024 $2.70
April 23, 2024 $3.35
February 23, 2024 $2.93
May 23, 2023 $0.98
Launch price (January 27, 20222) $3.58
All-time high (March 13, 2024) $4.41
All-time low (November 20, 2022) $0.2126

Ronin Price Analysis

Ronin Price Analysis
RON could hit another all-time high relatively soon | Credit: Nikola Lazic/TradingView

After hitting an all-time high on March 14, RON’s price began to falter, initiating a significant decline. This downtrend persisted until May 1, when the price bottomed out at $2.50, a level that previously acted as support in February and March. 

This price point also marked the last consolidation phase before RON’s rise, with the previous uptrend starting in October at $0.40.

This level was retested on May 14 and concluded as the price had stabilized. With the daily chart’s Relative Strength Index (RSI) signaling oversold conditions, a breakout above the current descending resistance could pave the way for an ascent to new highs beyond $5.

According to our count, the recent downturn was the fourth wave out of a larger five-wave move. This is why we could now anticipate the development of it’s fifth, which would lead RON to a new all-time high. 

Ronin’s first target would be at $5.70, but if the momentum continues, it could reach $6.50 before it is completed. 

Is Ronin a Good Investment?

It is hard to say. The token’s price moved up recently, but we don’t know how sustainable the recent upturn is.

On the other hand, there are good reasons for Ronin’s recent movements, with new developments getting investors attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in RON.

Will Ronin go up or down?

No one can really tell right now. While the Ronin crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in Ronin?

Before you decide whether or not to invest in Ronin, you will have to do your own research, not only on RON, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Ronin?

Ronin was launched by Sky Mavis, the creator of Web3’s breakout title Axie Infinity which has generated over $1.3 billion in revenue.

Who Owns the Most Floki (FLOKI) Tokens?

On May 23, 2024, one wallet held 12.48% of RON’ supply.

Richest RON Wallet Addresses

As of May 23, 2024, the five wallets with the most Ronin tokens were

  • TNUC9Qb1rRpS5CbWLmNMxXBjyFoydXjWFR. This wallet held 12,718,496,662 RON, or 12.48% of the supply.
  • TNMcQVGPzqH9ZfMCSY4PNrukevtDgp24dK. This wallet held 8,997,562,058 RON, or 8.83% of the supply.
  • TWnHGFEjgrJpHXPiPnddPtdCwKGMwpxK8T. This wallet held 1,970,403,584 RON, or 1.93% of the supply.
  • TXjbXLdJ5LHYd23rYhddoZXffi3PJUtw5R. This wallet held 1,382,468,253 RON, or 1.36% of the supply.
  • TT2T17KZhoDu47i2E4FWxfG79zdkEWkU9N. This wallet held 1,186,372,607 RON, or 1.16% of the supply.

Fact Box

Supply and distribution Figures
Total supply 1,000,000,000
Circulating supply (as of May 23, 2024) 324,275,168 (32.4% of total supply)
Holder distribution Top 10 holders owned 25% of supply, as of May 23, 2024

From the Whitepaper

In its technical documentation, or whitepaper , Ronin says that at launch, Ronin used Proof of Authority (PoA) as its consensus protocol. In PoA systems, transactions and blocks are validated by approved accounts known as validators. The PoA protocol, however, is often criticized for being less decentralized than Proof of Stake (PoS) and Proof of Work (PoW).

As the next step toward decentralization, Ronin integrated the Delegated Proof of Stake (DPoS) features such as delegation and validator selection, while retaining an element of PoA.

Ronin (RON) Explained

RON is the native coin of Ronin , an Ethereum-based sidechain developed by Sky Mavis. It was initially designed for running the Axie Infinity (AXIE) game. Axie Infinity is an NFT-based game.

How Ronin Works

The $RON Token is the ecosystem token for the Ronin platform. It enables users to pay for transactions on Ronin and participate in securing the network via delegation to validators. Further utility is planned to be added via different Apps built on Ronin.

Ronin Attention Tracker

Ronin's Google search volume
Ronin’s Google search volume for the last 90 days. Credit | Google
Here is a chart for Ronin Google search volume for the past 90 days. This represents how many times the term “Ronin RON” has been Googled over the previous 90 days.

FAQs

How many Ronin are there?

As of May 23, 2024, there were 324.3 million RON in circulation, out of a total supply of 1 billion.

Will Ronin reach $10?

It might do. DigitalCoinPrice says it will reach that level in 2027.

What is Ronin?

Ronin (RON) is an EVM-based blockchain designed specifically for play-to-earn games.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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