The Root Network is a decentralized blockchain network that aims to provide the technological and cultural foundation for the open metaverse, where users can create, experience, and monetize 3D content.
It is built on top of the XRP Ledger, which enables fast, secure, and cheap transactions and settlement of tokenized assets. It also supports Ethereum smart contracts through its integrated EVM, allowing developers to port existing code and functionality to the network.
Moreover, It has a native token called ROOT, that is used for staking, governance, and paying fees in the network’s multi-token gas economy.
The Root Network crypto is on its way to reaching its highest price ever and shows a strong bullish trend on the charts. The highest price that ROOT achieved is $0.4635. The lowest price registered on the charts is $0.026. Both the highest and the lowest prices were recorded on the same day, November 21st.
ROOT trades at $0.0460 with an intraday gain of nearly 7%. The price hovers near an all-time high. The breakout above may trigger a strong bullish rally.
The Root Network Price Prediction 2023
The volume analysis shows that ROOT has a 24-hour trading volume of $3.95 Million with a gain of 39.35% when compared to the last day. The live market cap of The Root Network is $54.886 Million and ranks 2244th among the top cryptos. The volume-to-market cap ratio is 7.11%; indicating mild volatility in the market.
The price prediction for November 2023 showcases a bullish outlook above the ATH. The optimistic view of analysts estimates the price may reach a high of $0.061 by the year-end. The pessimistic view of analysts estimates the price may drop to $0.0.035.
The Root Network Price Prediction 2024
As per the analysts, the most optimistic target that the ROOT price may achieve by 2024 is $0.0106, indicating an upside potential of 117.02% from the CMP. However, the pessimistic view of analysts expects the price to reach $0.076.
The Root Network Price Prediction 2025
The most optimistic analyst forecast for The Root Network crypto expects the price to reach a high of $0.191 with a potential gain of 276% from the CMP. The minimum forecasted price by the end of 2025 is $0.121. The average predicted price till 2025 is $0.154.
The Root Network Price Prediction 2026
The ROOT price may reach a high of $0.280 if a positive trend prevails in the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $0.233 by 2026.
The Root Network Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts estimates the ROOT price to reach a high of $0.344. The minimum price target of analysts is $0.272 by 2027.
The Root Network Price Prediction 2028
Till 2028, the overall crypto market may see more exposure and evolve more. On the most optimistic side, ROOT Crypto price may reach a high of $0.592. However, the pessimistic view of analysts expects the price to reach $0.467.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2023/12/01/the-root-network-approaching-ath-will-it-continue-to-rise-or-fall/