Reserve Rights (RSR) Current Market Status

Reserve Rights (RSR) Current Market Status
  • RSR/WETH market is bullish today.
  • Reserved Rights has held support at $0.009486.
  • RSR was created with the goal of maintaining 100% on-chain collateral backing.

RSR price analysis is bullish today as we have seen further positive momentum above $0.009423 support over the last 24 hours. The resistance to the Reserve Rights token is currently placed at $0.01033. A break above this point could see the cryptocurrency pair surpass the $0.01 mark.

According to CoinMarketCap, the price of Reserve Rights (RSR) is $0.01009 with a 24-hour trading volume of $138,764,047 at the time of writing. However, RSR has increased by nearly 5% in the last 24 hours. This indicates mild volatility over the last day.

Moreover, Reserve Rights (RSR) has a circulating supply of 42.30B RSR. Currently, Reserve Rights (RSR) trades in cryptocurrency exchanges such as Binance, OKX, Upbit, DigiFinex, and KuCoin.

The four-hour Litecoin price analysis confirms a sideways movement in price as the bears have been occasionally at the lead. A rise in RSR/WETH price has been recorded in the last four hours, and the price has jumped to the $0.01 level. 

It can be estimated that the price will also move over the resistance and mark further heights. The Moving average on a 4-hour price chart is currently at $0.009. The RSI indicator shows a bullish trend as the RSI line is far over the overbought region. This however could indicate an upcoming strong selling if the bulls fail to maintain their positions.

RSR/WETH 4-hour price chart, source: Trading view
RSR/WETH 4-hour price chart, source: Trading view

In conclusion, the decentralized stablecoin mechanism called Reserve Rights was created with the goal of maintaining 100% on-chain collateral backing. The Reserve Rights concept, as indicated in the whitepaper, strives to strike the right balance between decentralization, stability, and profitability.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer