SXP coin price prediction: Are fuzzy fundamentals hurting Swipe coin?

Swipe’s prospects remain unclear despite a shakeup since being acquired by Binance,

Image of Swipe logo against gold background – Photo: Shutterstock                                 
A clearer roadmap might help SXP's future prospects – Photo: Shutterstock
                                

Contents

SXP is the native cryptocurrency of the Swipe protocol. At its heart, Swipe is an application programming interface (API) used to facilitate payments on crypto cards. So can we make an SXP coin price prediction?

Before Swipe was acquired by Binance for an undisclosed sum in July 2020, it had its own crypto-card offering. Since then, Swipe has focused on delivering back-end support to its parent company.

Additionally, the Swipe Swap decentralised exchange (DEX) is currently in test mode. Swipe Swap aims to bring something new to the DEX scene: the ability to exchange crypto assets seamlessly across the Binance and Ethereum smart chains. Existing competitors, including Uniswap and PancakeSwap, are tied to one or the other.

As Swipe has evolved as a company, so too has its native cryptocurrency. While initially used as a staking device to facilitate payments on the erstwhile Swipe crypto cards, it is now used for paying transaction fees and as a governance token for the operation of the Swipechain blockchain ecosystem.

Once fully operational, transactions on Swipe Swap will be secured through a delegated-proof-of-stake (DPoS) mechanism, which rewards nodes with SXP for verifying transactions. This system is far more energy efficient than the mining system used by Bitcoin.

We go deeper into Swipe’s architecture in our comprehensive guide here. Read on below for the latest on the Swipe coin price prediction.

Recent chart performance

Regardless of fuzzy fundamentals, SXP’s performance mirrored that of many altcoins throughout 2021.

The first-quarter crypto bull run saw SXP value steadily rise to $4.7 in early April. Despite the inevitable dip, a second spike in early May saw SXP shoot up to an all-time high of $5.47, representing a more than 4.5 times value increase year on year.

This price spike coincided with founder Joselito Lizarondo's blog post confirming that he burned his entire wallet, which contained 17.5% of all SXP. Such a massive burn reduced supply by 50 million, thus driving up scarcity.

But as with many altcoins, we can observe a generally range-trading behaviour since early-year spikes. The relative strength index (RSI) is practically dead centre at 50.07, indicating neither overbought nor undersold worries.

A bearish moving average cross can be observed on 24 November as the nine-day line moved below the 21-day line. This could indicate a short-term downtrend.

The moving average convergence divergence (MACD) line also suggests a slightly bearish market.

A falling wedge pattern can be seen over the two-week period as lower highs combined with lower lows. That could indicate a bullish reversal in the near future.

Results are a mixed bag for the SXP coin price prediction, with no dramatic trends noticeable. More than some competitor coins, the future performance of the SXP coin may be linked to some potential fundamental strengths if Swipe concentrates on its vision of what it wants to be.

What are the forecasters saying?

Digitalcoin presents a Swipe price prediction for 2022 capped at $4.15, estimating fairly generous 72% returns at current prices.

Looking further down the line, the digital forecaster has a Swipe price prediction for 2025 of $7.11. The $10 mark is expected to be breached some time in 2028.

Not all forecasters are quite so bullish. Wallet Investor expects SXP to gain 34.6% by the end of 2022, while the $7 mark is expected to be hit in 2026 to close at $7.21 by that year’s end. 

Based on the past 30-day trade of SXP, forecasters are moderately bearish.

As of yet, a Swipe coin price prediction for 2030 is not available. However,  given the constant if moderate uptrend, we could expect the forecasters to post continual gains in the following decade.

Of course, any SXP coin price prediction  needs to be taken with a grain of salt, since crypto assets are subject to high levels of volatility; they may go up or down.

For SXP especially, an unclear roadmap and a threadbare white paper causes some concern. 

FAQs

That could all depend on some important fundamentals, specifically how Swipe executes its roadmap. Chart analysis suggests that SXP is ranging, thus not indication any clear trend.

Forecasters are generally positive that SXP will go up, if only in modest amounts. Always keep in mind that this article does not constitute genuine investment advice. Always conduct extensive due diligence before any investment

That is totally up to you. If you believe in the project and its underlying fundamentals, then Swipe may make for a good investment. Whatever you decide to do, make sure to never invest more than you can afford to lose.

Further reading

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