Crypto.com Price Prediction: CRO aims for new all-time highs thanks to high-grade partnerships


  • Crypto.com price has spiked by 23% in the past 24 hours.
  • Visa announced a new global partnership with Crypto.com boosting its price.
  • Crypto.com will issue the Visa Card in Australia to tap into more markets.

The main coin behind Crypto.com, CRO had a significant 23% breakout in the past 24 hours thanks to a partnership announcement with Visa, which aims to take advantage of the cryptocurrency market.  

Crypto.com and Visa will open the doors to crypto for even more people

The Hong Kong-based payment platform, Crypto.com announced a partnership with Visa and will roll out a new service for fiat lending against other cryptocurrencies as collateral through the Crypto.com Visa card. Cuy Sheffield, head of Crypto at Visa added:

Visa's credentials add a lot more utility for crypto assets and enable an easier way to spend them, the demand that we're seeing from consumers to be able to access crypto.

Additionally, Crypto.com also plans to launch a new product for cardholders to allow them to spend fiat against other cryptocurrency holdings with an interest rate set at 9.9%. 

Crypto.com price poised for even more upside as it becomes scarcer

Although the partnership with Visa is great news for CRO holders, there is perhaps an even better metric in favor of the digital asset. The number of CRO tokens inside exchanges has seen a steep decline since the beginning of February from 8.5% of its circulating supply on exchanges to only 5.81% currently.

cro price

CRO Supply on Exchanges

Additionally, despite the digital asset's performance in the past week and being close to new all-time highs, the MVRV(30d) remains low, which means there is a lot more upside potential for CRO and weak resistance.

cro price

CRO MVRV(30d) chart

On the 4-hour chart, CRO had a breakout from a symmetrical triangle pattern with a price target of $0.234 not yet reached. Above this point, there is basically no resistance until the all-time high of $0.271, which can be quickly reached again.  

cro price

CRO/USD 4-hour chart

However, there is a chance that CRO will see a pullback down to the previous resistance trendline to re-test it. This is often the case after a significant breakout. This price target is located at the psychological level of $0.20. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Solana price eyes new all-time highs before taking a breather

Solana (SOL) price has successfully broken out of the descending top line that was keeping  SOL price trapped below $200. The breakout rally began  at the level of the 50-day Simple Moving Average (SMA), a level which has provided support on several previous occasions. 

More Solana News

Terra hits new record in total value locked ahead of 10% of LUNA supply burn

Terra money ecosystem got its first play-to-earn game Flokiverse that offers passive income to players.Over 100 projects are lined up for launch on the Terra network, a new wave of TeFi. Proposal 128, to initiate IBC on Terra, has passed; DeFi interchain highways for Cosmos ecosystem have arrived.

More Terra News

Polkadot price bound for 50% breakout if DOT bulls can overcome this hurdle

Polkadot price is currently facing a decisive moment as it trades between two significantly troublesome barriers. While overcoming these hurdles will be trying, doing so will lead to a volatile move.

More Polkadot News

BNB to rise over 30% as Binance Smart Chain proposes to burn BNB fees like Ethereum

Implementing a burning policy triggered the “Triple Halving” in Ethereum, driving a supply shortage of Ethereum in circulation. In a similar way, Binance proposes to burn Binance Coin in every transaction. 

More Binance Coin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP