Rocket Pool Price Prediction 2024: RPL Integrates with SSV
What's next for Rocket Pool?
Key Takeaways
- Rocket Pool is a platform designed to make staking Ethereum’s Ether (ETH) crypto accessible to more people.
- Its native token, RPL, outperformed the market in 2022, but underperformed in 2023.
- One Rocket Pool price prediction says it can reach $76.21 in 2025.
Rocket Pool may have avoided being called an unregistered security by the United States Securities and Exchange Commission (SEC), but it still found it hard to gain that much traction in the middle of 2023.
However, the platform’s ongoing integration with the SSV system may well bring it to people’s attention.
On February 27 2024, Rocket Pool was worth about $31.30.
But what is Rocket Pool (RPL)? How does Rocket Pool work? Let’s see what we can find out, and also take a look at some of the Rocket Pool price predictions that were being made as of February 27 2024.
Rocket Pool Price Prediction
Let’s examine some of the Rocket Pool price predictions being made on February 27 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 | $32.96 | $62.20 | $155.50 |
| Prediction #2 | $39.35 | $57.19 | $400.22 |
| Prediction #3 | $65.78 | $76.21 | $229.66 |
First, CoinCodex had a short-term Rocket Pool price prediction that said the token would climb to $36.48 by March 3 before hitting $42.33 by March 28. The site’s technical analysis was bullish, with 26 indicators sending positive signals and just two making bearish ones.
Rocket Pool Price Prediction for 2024
CaptainAltCoin said Rocket Pool would be worth $32.96 in December. PricePrediction.net had the token reach $39.35 this year. DigitalCoinPrice said RPL would stand at $65.78 in 2024.
Rocket Pool Price Prediction for 2025
DigitalCoinPrice’s Rocket Pool price forecast saw it reach $76.21 in 2025. PricePrediction.net said it would be worth $57.19 that year. CaptainAltCoin said RPL would trade at $62.20 in 2025.
Rocket Pool Price Prediction for 2030
Looking at a more long-term Rocket Pool price prediction, PricePrediction.net said the token would reach $400.22 in 2030. CaptainAltCoin said it would get to $155.50 that year. DigitalCoinPrice said it would reach $229.66 at the start of the next decade.
Google Gemini AI Price Prediction for Rocket Pool (as of February 27)
Google’s Gemini AI platform gave the following price prediction for Rocket Pool 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):
- Prediction: RPL could see a slight increase, potentially reaching around $34-$36.
- Reasons: Current market sentiment seems positive towards RPL, with technical indicators suggesting a bullish trend and a “greed” reading on the Fear & Greed Index. However, the broader crypto market’s volatility could impact these gains.
Medium-term (next 12 months):
- Prediction: RPL could reach $40-$45 within a year.
- Reasons: Continued adoption and growth of the Rocket Pool protocol, attracting more users and staking activity, could drive the price upwards. However, regulatory changes or unforeseen events in the crypto space could hinder this growth.
Long-term (next 5+ years):
- Prediction: RPL’s price is more challenging to predict in the long term, but it could potentially reach $50-$70 by 2030.
- Reasons: The long-term success hinges on the wider adoption of Ethereum staking and the continued success of the Rocket Pool protocol within that ecosystem. However, numerous factors, including technological advancements and competitor landscape, could significantly influence the price in the long run.
It added: “It’s important to remember that cryptocurrency predictions are inherently uncertain and should not be taken as financial advice. Always do your own research (DYOR) before making any investment decisions.”
RPL Price History
Let’s now take a look at the Rocket Pool price history . While we should never take past performance an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a Rocket Pool price prediction.
Rocket Pool first came onto the open market in the middle of 2018. It was worth about $1, but largely remained below the dollar until the summer of 2020. In early 2021, it experienced a surge as the market blossomed, reaching above $20 in May.
Although the market dipped, it came back strongly later in the year. RPL spiked on 16 November to an all-time high of $154.73, but then resumed normal service to close the year at $41.39.
RPL outperformed the market in 2022, but it still fell. A string of market crashes damaged the price of RPL. In June, following the collapse of the Terra (LUNA) blockchain, its price dropped below $10 for the first time in nearly a year.
When Ethereum’s switch to a Proof-of-Stake (PoS) consensus mechanism took place in September, it was able to recover to over $30, The collapse of the FTX (FTT) exchange saw its price take another hit. It finished the year at $19.86.
That figure was 52% less than it was a year earlier but that was not as bad as it could have been. Put into the context of a crypto market that lost more than 60% throughout 2022, it was one of the year’s better performers.
Rocket Pool in 2023 and 2024
In 2023, RPL rose but underperformed against the market. It climbed over the course of the first few months, with anticipation about the Atlas upgrade , which was designed to make it more secure and more efficient, seeing it reach a high of $64.29 on 16 April.
After that, the price shrunk. When the market crumbled following the SEC announcing it was suing Binance and Coinbase, the token fell to a low of $38.26 on June 15. It has largely struggled since.
Although there was upward movement following July’s court ruling that Ripple’s XRP crypto was not a security if it was being sold on exchanges, it fell in August. The news that Elon Musk’s SpaceX had sold millions of dollars worth of Bitcoin (BTC) shocked the market. On September 3, RPL was worth $21.25. By the end of the year, RPL was worth $30.10. Its annual climb of 55% may have seemed encouraging, but it should be put into the context of a crypto market that more than doubled in 2024.
There was more upward momentum in the new year and, on February 27 2023, RPL was worth about $31.30.
At that time, there were 20.1 million RPL in circulation, representing the total supply. This gave the token a market cap of about $631 million, making it the 117th-largest crypto by that metric.
Is Rocket Pool a Good Investment?
It is hard to say. RPL has been performing reasonably well recently, but it could be doing better. It is no longer in the top 100 cryptos. Also, while the idea behind Rocket Pool is useful, we have to see whether the platform can bring new customers in.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in RPL.
Will Rocket Pool go up or down?
No one can really tell right now. While the Rocket Pool 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 Rocket Pool?
Before you decide whether or not to invest in Rocket Pool, you will have to do your own research, not only on RPL, but on other, similar, coins and tokens such as Lido DAO (LDO). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
From the whitepaper
In its technical documentation, or whitepaper , Rocket Pool is keen to point out its pioneering aspect.
It says: “Rocket Pool is a first of its kind ETH Proof of Stake Protocol, designed to be community owned, decentralised, trustless and compatible with staking in Ethereum. It was first conceived in late 2016 and has been live since October 2021.”
Rocket Pool is designed to cater to two main user groups; those that wish to participate in tokenised staking using rETH using as little as 0.01 ETH and those that wish to stake ETH and run a node in the network to help generate a higher ROI than staking outside of the protocol due to commissions earned.
Rocket Pool (RPL) Explained
Ethereum’s Ether (ETH) coin is the king of altcoins. Second only to Bitcoin in market cap, Vitalik Buterin’s platform has established itself as the go-to place for people who want to create their own decentralized applications (DApps).
However, Ethereum is not without its problems. For instance, it can be hard to to stake it, or set it aside, in return for rewards. People need a minimum of 32 ETH, worth more than $50,000, to stake on the blockchain. This can be somewhat discouraging for people who hold smaller amounts of the coin but still want to get involved in the running of the network.
Crypto entrepreneur David Rugendyke founded Rocket Pool in 2017 in a bid to solve that problem. Rocket Pool aims to let people stake ETH without having to hold large amounts of Ether.
The Rocket Pool system is supported by its native token, which goes by the ticker handle RPL.
How Rocket Pool Works
People who want to use Rocket Pool take their ETH and put it into a staking pool. In return, they get Rocket Pool ETH, or rETH, in return. The ETH is put together and staked on Ethereum, earning Rocket Pool’s customers ETH rewards. The price of rETH is linked to the price of Ether, but it is not the same.
RPL pays rewards to people who run the computers, or nodes, that help run the system.
Holders can stake the token within the platform itself. That said, you do not have to hold RPL to stake ETH through Rocket Pool or run one of its nodes.
People can also buy, sell, and trade Rocket Pool on exchanges.
Because Rocket Pool is based on Ethereum, it is a token, rather than a coin. You might see references to such things as a Rocket Pool price prediction, but these are wrong.
Rocket Pool Attention Tracker
Here is a chart for the Rocket Pool Google search volume for the past 90 days. This represents how many times the term “Rocket Pool” 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.
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