Reserve Rights Token (RSR) Price Heads Under $0.01 after 21% Fall
The price of Reserve Rights Token (RSR) has tanked to $0.01, down by -21% over the past week.
The market overall is down by -9.4% in comparison.
Past occurrences suggest that there could be upside potential.
Reserve Rights Token has plummeted sharply recently (-21% over 7-days), but previous patterns suggest that there may be upside potential in the near future.
Of course, we don't have a crystal ball, but we do have lots of historical data. Stack has analyzed the previous performance of Reserve Rights Token (RSR). We analyzed 31 past occurrences when the price fell sharply over a 7-day period.
Why Reserve Rights Token's Price Might Be Moving Move Higher
A setup very similar to this has happened before.
Over those 31 past occurrences, we found that 83.87% of the time the price increase by a median 64.93% over the following 60 days.
For example, on December 25th, 2020 we saw the price of Reserve Rights Token fall by -21.2%, only to rebound by 156.2% over the following 60 days.
What does this mean?
This is just one, data-driven signal, based on a number of previous historic periods. Lots of factors can influence the price of any investment.
Crypto is no different. Social media, developer activity, the number of exchanges and on-chain activity are all factors that can influence the price of any crypto project. Stack factors all these into it's ranking system to make it quick to compare the quality of different cryptos.
If you feel that other factors, including the broader crypto market, are favorable given the suggested 7-day investment horizon. Then it could represent a good time to invest, or a good entry point. We recommend that you do your own research (DYOR) before making any investment decisions.
What other factor could be moving the price of $RSR?
Lot's of factors can influence the price of any investment. These are just a few that could impact the price of Reserve Rights Token.
The direction of the broader crypto market
The broader market is also down by a median -9.4%. Many cryptos are highly correlated, especially to Bitcoin. So this is likely affecting the price. Going against the grain can work, but should be done with caution.
How active have the developer for Reserve Rights Token been?
Over the past 4 weeks there have been 208 commits on Reserve Rights Token's Github account. This compares to an average of 0 commits per week.
Spotting significant changes in developer activity can highlight potential new products being worked on and abandoned projects that might be in decline.
Social media can have a powerful effect on cryptocurrency prices. Even a single tweet can move markets (we're looking at you Elon). It's difficult to gauge sentiment just by scrolling, but you can use tools like Stack to monitor the growth of a project's followers.
Reserve Rights Token's Twitter followers have increased by 0% over the past 7 days. You can view stats for other networks in the full report for Reserve Rights Token.