Radix Price Prediction 2024: After Weak 2023, What Next for XRD?

Key Takeaways

• Radix is a blockchain that allows people to create their own decentralized applications.
• XRD is the native token of Radix, a blockchain that helps people create decentralized finance applications.
• One price prediction says it may reach $0.185104 next year.

Radix is one of many blockchains that allows people to create their own decentralized applications (DApps). While there was some excitement about it when it came out in the autumn of 2021, it had a pretty terrible year in 2022.

Although excitement about its latest iteration saw it rise in 2023, the news  that the upgrade, named Babylon and designed to help people create smart contracts, computer programs that automatically execute once certain conditions are met, had been delayed saw its XRD coin fall by more than a quarter in the course of a week in late June and early July. 

The platform’s investors will be hoping that the system can right itself before Babylon comes out in late September.

Radix did not immediately respond to a request for comment.

But what is Radix (XRD)? How does Radix work? Let’s see what we can find out, and also take a look at some of the Radix Price Predictions that were being made as of February 27, 2024.

Radix Coin Price Prediction 

With that all out of the way, let’s take a look at some of the Radix price predictions that were being made as of February 27, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. 

First, CoinCodex  had a short-term Covalent price prediction which said that the token would be somewhat volatile in the coming weeks, with it dropping to $0.045018 by March 2 and reaching $0.053436 by March 28. The site’s technical analysis was bullish, with 22 indicators sending encouraging signals and just five making bearish ones.

Radix Forecast for 2024

In terms of what other sites had to say in their Radix price predictions for 2024, Bitnation  said that the coin would reach $0.136392 while PricePrediction.net  was more cautious, saying it would stand at $0.0775. DigitalCoinPrice , on the other hand, was far more confident, making a XRD price prediction that saw it trade at $0.11 this year. 

Radix Forecast for 2025

When it came to making a Radix price prediction for 2025, DigitalCoinPrice said it may be worth $0.12 and Bitnation thought it would trade at $0.185104, while PricePrediction.net lagged behind, saying XRD would get to $0.1141 next year.

Radix Forecast for 2030

Looking forward to a more long-term Radix price prediction for 2030, PricePrediction.net was very optimistic, suggesting XRD would be worth about $0.6993 that year, while Bitnation had it at $0.428661 and DigitalCoinPrice said it would trade at $0.36 at the start of the next decade.

Google Gemini AI Price Prediction for Radix (as of February 27)

Google’s Gemini AI platform gave the following price prediction for Radix on February 27. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

• Expected price: $0.0733

• Factors to Consider:
  • Market sentiment: Overall market sentiment towards cryptocurrencies can significantly impact the price of individual coins, including Radix.
  • Regulations: Regulatory changes from governments around the world can affect the price of cryptocurrencies.
  • News and events: Positive or negative news events related to Radix or the cryptocurrency market in general can impact the price.
  • Adoption and development: Increased adoption and development of the Radix network can positively influence the price.

Medium Term (Next 6 months)

• Expected price: $0.10

• Factors to Consider:
  • Overall market sentiment: If the general sentiment towards cryptocurrencies is positive, it could drive up the price of Radix. Conversely, negative sentiment could lead to a price drop.
  • Developments on the Radix network: Any significant advancements or positive news about the Radix network could increase demand for XRD tokens, potentially raising the price.
  • Regulations: Regulatory changes could impact the price of Radix, depending on the nature of the regulations.

Long Term (Next 5 years)

• Expected price: $0.79

• Factors to Consider:
  • Market adoption and innovation: Increased use of Radix’s technology and wider adoption within the crypto space could positively impact its price.
  • Overall cryptocurrency market trends: The broader cryptocurrency market’s health and sentiment can significantly affect individual coin prices, including XRD.
  • Regulations and legal landscape: Regulatory changes and legal developments surrounding cryptocurrencies can influence investor sentiment and, consequently, prices.
  • Team progress and development: Successful execution of the Radix team’s roadmap and continuous development of their technology could boost investor confidence and potentially lead to price increases.

XRD Price History

Let’s now take a look at the Radix price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Radix price prediction. 

Radix first came onto the open market in September 2021, when it was worth about $0.1685. It fell to $0.1013 on 21 October but a buoyant market, boosted by Bitcoin (BTC) reaching record levels, saw it hit its all-time high of $0.6538 on 14 November. Following that, though, the coin fell and it closed the year at $0.2464. 

Although hopes were high for the XRD coin in 2022, they were snuffed out by a brutal and uncompromising market. A series of crashes saw it fall below $0.10 in May and $0.07 in June. 

Any idea that things would get better went away when the FTX exchange declared bankruptcy in November, leaving XRD at an all-time low of $0.03154 on 29 November. There was some upward movement after this and Radix was worth $0.03439 by the end of the year. This means it had lost more than 85% across the course of the year. 

Radix in 2023 and 2024

2023 was a comparatively positive year for XRD. The coin rose to over $0.50 in late January, dropped down, and then, following the news  that the Babylon upgrade to the system’s mainnet would happen in July, it shot up to a high of $0.1508 on 18 April.

XRD fell below $0.10 in early May and, in June, the coin floundered in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase crypto exchanges, dropping to $0.05495 on 15 June. There was a recovery with the market, and it reached $0.08614 on 27 June. 

Unfortunately, the news that Babylon would be delayed until 27 September saw it drop and, on 4 July 2023, XRD was worth about $0.0635.

It then ended the year at $0.0426 before embracing a rollercoaster in the first two months of 2024. XRD then reached $0.04922 on February 27, 2024.

At that time, there were 10.38 billion XRD in circulation, out of a total supply of 12.78 billion. This gave the coin a market cap of a little under $508.5 million, making it the 134th largest crypto by that measurement.

Is Radix a Good Investment?

It is difficult to tell. While the news of yet another delay to the Babylon upgrade has damaged XRD’s price, the fact that there is going to be an upgrade suggests that there could be some serious interest in the platform come Autumn.

On the other hand, XRD has suffered major losses over the last 18 months or so. And, with a plethora of DeFi-related blockchains for people to choose from, Babylon will have to be the thing that makes more people sit up and take notice of Radix. 

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

Will Radix go up or down?

No one can really tell right now. While the Radix 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 Radix?

Before you decide whether or not to invest in Radix, you will have to do your own research, not only on XRD, but on other, related, coins and tokens such as Solana (SOL) or Cardano (ADA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Radix (XRD) Explained

Decentralized finance (DeFi) is one of the most important concepts in blockchain-based finance. The idea that people should be able to access financial services without having to deal with traditional, centralized, institutions like banks is key to the same sort of thinking that gave us cryptocurrency.

Radix  is a blockchain that operates in the increasingly crowded DeFi space. The platform, which was founded by British software developer and crypto entrepreneur Dan Hughes in 2013, was originally called eMunie. It is designed to be able to handle high traffic levels without slowing down and allows people to build their own decentralized applications (DApps) on the network.

Radix is supported by its native token, which goes by the ticker handle XRD.

How Radix Works

Radix is based on a form of Proof-of-Stake (PoS) consensus mechanism. It means people add blocks to the blockchain-based on how much XRD they hold.

The system uses sharding, which means that the blockchain is, in effect, split up into different segments. This means, at least in theory, that it is quicker and able to deal with more people using the network without becoming too slow. 

DApp developers on the Radix blockchain use a programming language called Scrypto to create their apps. 

In terms of the XRD coin, as well as being used to help add blocks to the chain, it can also be staked in return for rewards, paid in XRD. 

XRD can also be bought, sold, and traded on exchanges.

Radix Attention Tracker

Here is a chart for the Radix Google search volume for the past 90 days. This represents how many times the term “Radix XRD” has been Googled over the previous 90 days.

FAQs

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.

About the Author

Peter Henn

Peter Henn has been a journalist since 2005. In that time, he has written for a variety of publishers including the Mail on Sunday and the Daily Express. He has previously covered the world of cryptocurrency for Currency.com and Capital.com, and has also written for ECigIntelligence.com and CBD-Intel.com. A graduate of the University of Liverpool, he is based in the United Kingdom. His hobbies include music, horse racing and performance art.

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