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WRX Price Prediction 2022-2031: Will WRX Recover Soon?

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WRX Price Prediction 2022-2031

After the Enforcement Directorate (ED) raided Zanmai Labs, Binance first disowned WazirX, and then said that it is removing the off-chain fund transfer channel between WazirX and Binance. Zanmai Labs said that there seems to be a major misunderstanding about off-chain transactions between WazirX and Binance. Come what may, this WRX price prediction guide will trace the crypto’s price movements and collate unbiased and updated information.

WazirX is the largest crypto exchange in India and its annual trading volume exceeded $43 billion in 2021. The crux of the problem is that the users had their accounts frozen. Why so? In two instances, the Indian Ministry of Finance confirmed that crypto exchange WazirX was being investigated for money laundering and breaching forex regulations. The exchange, which operates as an independent subsidiary of Binance, is said to have violated the Foreign Exchange Management Act, 1999 (FEMA) provisions.

This was 5 months after WRX’s price surged nearly 30% to over $1, hitting a three-week high after the Indian government had announced a new tax regime for the regional crypto sector, reversing entirely from its earlier strict stance that even contemplated an outright ban on the emerging industry.

The clampdown by ED seemed to have opened a can of worms: Even as the ED accused WazirX of assisting 16 Indian fintech firms, already under investigation by the agency, in laundering proceeds of crime by transferring the money to unknown foreign wallets, WazirX founder Nischal Shetty and Changpeng Zhao hurled innuendoes on who processes crypto withdrawals. The purchase by Binance is well-known, but the operations?

Today’s WazirX price is $0.203718 USD with a 24-hour trading volume of $965,936. We update our WRX to USD price in real-time. WazirX is up 0.56% in the last 24 hours. The current CoinMarketCap ranking is #272, with a live market cap of $77,791,054. It has a circulating supply of 381,856,872 WRX coins and the max. supply is not available.

Also Read:

What is WRX?

WRX is the utility token of the WazirX Exchange that was launched in India in 2018. WRX tokens established the roots of the entire WazirX ecosystem and operated as a good investment for all new users.

Like all cryptocurrencies, WRX are digital assets much like Ethereum or Bitcoin. Binance has given WazirX the platform to operate via their channel. The Binance Chain and Ethereum offer WazirX users a 50% discount over the trading fees of the WXR tokens. Crypto investors see this as an excellent opportunity to make the best of this offer; however, the discount per annum drops each year; users generally establish themselves to the extent that it doesn’t make much difference.

The WRX tokens come with multiple uses and benefits; besides using them for trading, users can pay for their listing fees with their WRX tokens. The payments for fee margins can also easily be made through the WRX token, making much of the process hassle-free. Many of its key features are easily fulfilled with the use of the tokens alone.

According to liquidity and trading volume, WazirX is ranked number one in India, having many users within the age range of 22 to 32 years. In a quest to increase investment in a start-up for crypto, the India exchange partnered with Binance in March 2020 to launch a “Blockchain for India” fund valued at $50 million. The WRX value hype can be traced to the update that WazirX is set to launch an NFT platform that would be the first to have content creators, Indian artists, and collectors as its primary target. On this new platform, customers don’t have to worry about being charged for creating and listing non-fungible tokens. 

The hassle-free and straightforward route to acquire tokens is through WRX trade mining, airdrops, and partner to partner trading. New users must follow investment advice from a trusted source and conduct a personal technical analysis to choose a route best suited to their needs.

Who are the WRX founders?

In 2018, WazirX founders, Nischal Shetty, Sameer Mhatre, and Siddharth Menon, capitalized on the rising tide of retail traders investing in cryptocurrencies to build WazirX. In the first half of 2021 alone, WazirX has grown more than 12 times to become India’s largest digital currency exchange and soon the country’s first billion-dollar crypto unicorn.  

When the Reserve Bank of India introduced a ban on crypto-related payments. WazirX changed its business model to act as a third-party custodian between buyers and sellers. In November 2019, WazirX was acquired by Binance, the world’s largest cryptocurrency exchange, as it debuted in the Indian market. Due to the continuing crypto debate among Indian authorities, Shetty had to team up with other exchanges to jointly engage the country’s top financial decision-makers.

Undeterred by restrictions, in June 2021, WazirX became South Asia’s first marketplace for non-fungible tokens (NFTs) in a bid to help creators across India trade digital assets such as artwork and music. Let’s take a look at what the future holds for this durable WRX coin.

WazirX Ecosystem Development

Nischal Shetty, an Indian national, created the country’s first crypto, WazirX. This think tank, founder and CEO of WazirX, had been in the business for nearly a decade before he took this step. He began his Bitcoin mining career back in 2009 and ventured into Bitcoin wallets back in 2012.

In around 2017, Nischal decided to develop more into the Blockchain ecosystem, creating the first crypto exchange in India. Following the uncertain and opaque standards and operating of other foreign existing cryptos in India, he decided to take matters into his own hands. With a brand new and locally run crypto, the Indian populace was sure to build trust into investing in cryptos.

After successfully running Crowdfire, WazirX is another feather in the hat for Nischal, who has grown his enterprise into 19 million users locally and worldwide. He aims to provide an optimum cryptocurrency platform that is globally recognized and surpasses all expectations. This global product created in India has undoubtedly made its significant place in the worldwide market.

Once the WazirX exchange was established, Nischal took it to the next level by creating the WRX token. WRX tokens have thus far had a successful run in an otherwise competitive crypto market. According to WRX predictions, it is pretty probable that WRX trades will stand out in the market.

Where to buy WRX

Binance is one of the best places to buy the WRX token. Binance also lists a huge selection of other cryptocurrencies, so you can easily convert your WRX to another coin later. In order to buy WazirX WRX, on Binance, you first need to open an account.

1. Register on Binance

If you don’t own any cryptocurrency, you can get started by purchasing some BTC on Binance with a credit or debit card

2. Deposit cryptocurrencies

In order to make your deposit, go to the navigation bar at the top of the website and click Funds > Deposits. The website will provide you with a deposit address for the cryptocurrency you selected. The address will be a string of numbers and letters(both lowercase and uppercase). Copy the address in its entirety and go to your wallet of choice. Send the amount you wish to deposit to the address you copied. It is quite common for the transaction to take up to half an hour to complete, so don’t expect the funds to be available on your Binance account instantly.

3. Check your balance

In order to check your balance, go to Funds > Balances in the navigation bar at the top of the website. If you would only like to see the coins which have a balance of over 0.001 BTC, click on Hide small assets.

4. Place a buy order for WazirX.

To place an order, go to Exchange > Basic

After clicking on the trading pair, a price chart will appear in the center. You can place your buy order under the chart. If you want to buy WRX when it reaches a specific price, use the Limit order. Enter the desired price (in BTC) and the amount of WRX you want to buy, then click the Buy WRX button.

WRX Price Prediction 2022-2031: Will WRX Recover Soon? 1

If you want to buy WRX at its current price, click on the Market tab and enter the amount of WRX you wish to buy. The order should be executed almost instantly and the WRX will be added to your balance soon.

WRX Price Prediction 2022-2031: Will WRX Recover Soon? 2

By 2031 crypto assets will be widely accepted, and their usage will be increased multifold. The maximum value that could be attained is $8.59, while the minimum price is expected to be $7.01. The average forecast price is $7.22 by the end of 2031.

WRX Technical Analysis

Recent WazirX token price movement has followed an ascending support line which is currently being tested. A breakout and close above $0.22 is likely as the price is currently trading at $0.2174. The RSI is currently in the overbought region but is not close to the 70 levels. This could mean that there is more upside potential in the near term as bulls push for a breakout. The MACD is also bullish as the MACD line has crossed above the signal line.

Looking at the weekly and monthly charts, we can see that the most recent candlestick is a bearish engulfing pattern which could signal a reversal in the near term. However, the price is still trading above the ascending support line which suggests that bulls are still in control. A breakout above $0.22 would confirm further upside potential while a break below the support line could signal a reversal.

WRX Price Prediction 2022-2031: Will WRX Recover Soon? 3

The moving average lines on the 4-hour chart have all crossed over to the upside, signaling a bullish trend. The price is currently trading just below the 200-period moving average which could act as resistance in the near term. A breakout above this level would signal further upside potential while a break below support at $0.21 could signal a reversal.

The Bollinger bands have started contracting inwards after a period of expansion which suggests that the price is about to make a move. A breakout above the upper Bollinger band would signal further upside potential while a break below the lower Bollinger band could signal a reversal.

The Fibonacci retracement levels on the weekly show that the most recent price movement has been in line with the 61.8% Fibonacci level. This suggests that the price could continue to move higher in the near term.

Overall, the digital currency will continue to move in an upward trend as bulls push for a breakout above $0.22. The most recent candlestick is a bearish engulfing pattern which suggests that the price could move lower in the near term. However, the price is still trading above the ascending support line which suggests that bulls are still in control. A breakout above $0.22 would confirm further upside potential while a break below the support line could signal a reversal.

WRX Price Predictions by Cryptopolitan

WRX Price Prediction 2022-2031: Will WRX Recover Soon? 4
WRX Price Prediction 2022-2031: Will WRX Recover Soon? 5

WRX Price Prediction 2022

Our WazirX price prediction for 2022 is an average trading price of $0.25 and a maximum value of $0.27.The minimum price forecast for the same year is $0.24.

WRX Price Prediction 2023

Our WazirX price prediction for 2023 is a maximum trading price of $0.42 as the bullish trend is expected to continue in this particular year. we anticipate an average price of $0.37 and a minimum price value of $0.36 before the end of the year.

WRX Price Prediction 2024

Our WazirX price prediction for 2024 is a maximum value of $0.63 and an average price of $0.53.The minimum forecasted value for the year is $0.52.

WRX Price Prediction 2025

Our WazirX price prediction for 2025 estimates WRX to potentially reach a maximum price of $0.89.WRX might decline slightly to a minimum price of $0.25 and also it might climb to an average trading price of $0.78.

WRX Price Prediction 2026

Our WazirX price prediction for 2026 is a maximum price value of $1.31 and an average price of $1.09.The WRX price forecast for 2026 estimates the digital asset might reach $1.06 as the lowest price.

WRX Price Prediction 2027

Our WazirX price prediction for 2027 is that WRX potentially reaches a maximum price level of $1.87 before retracing to an average value of $1.61.The cryptocurrency might decline to a minimum forecasted price of $1.55 during the year.

WRX Price Prediction 2028

Our WazirX price prediction for 2028 is that the digital asset might reach a maximum price value of $2.68 and a minimum price of $2.14.The average forecast price for 2028 is $2.20.

WRX Price Prediction 2029

Our WazirX price prediction for 2029 is $3.72 as the maximum price and $2.98 as the minimum price. The average price is expected to be $3.07 during the year.

WRX Price Prediction 2030

Our WazirX price prediction for 2030 is $4.36 as the minimum price and $5.12 as the maximum price. The average price is expected to be $4.38 during the year.

WRX Price Prediction 2031

Our WazirX price prediction for 2031 is that WRX to attain a maximum price of $4.78. According to the WazirX price forecast for the same year, WRX will potentially trade at a minimum of $6.34 and an average price of $6.55.

Wazir X Price Prediction by Wallet Investor

According to Wallet investors’ WazirX price prediction, WRX is a bad long-term investment as they anticipate WRX to decline to a minimum price of $0.00492, a decline of 97.733 percent. The website anticipates the price of WazirX to continue declining and may never reach the $1 mark.

WazirX Price Prediction by DigitalCoinPrice

Digitalcoinprice’s WRX forecast for the next 5 years is quite bullish as they anticipate the price to reach $1.12 by 2027. The website has a more conservative approach when it comes to predicting the long-term trend of WRX and they believe by 2030 WRX will potentially attain a maximum price of $3.06, an average price of $3.08, and a minimum of $2.98.

WazirX Price Prediction by Coinpriceforecast

WazirX price predictions by this website are bullish as it expects the coin price would move from $0.56 to $0.96, which is an uptrend of 71 percent. The website further states that WazirX would attain a maximum price of $1.51 by 2025 and the minimum price would be $0.82, which is again an uptrend of 168 percent.

Conclusion

WazirX’s price has surged tremendously in the past year and as per our WRX price predictions, the trend is expected to continue in the future as well. The digital asset has a lot of potentials and might reach new all-time highs in the coming years. With more investors turning their attention towards WazirX, the price is expected to surge even further. As the whole crypto world is expected to grow in the future, WazirX is expected to benefit from it as well. So, if you are looking to invest in WazirX, our advice would be to go for it.

However, investing in cryptocurrency is a risky affair and we advise our readers to do their own research before investing in any digital asset. Also, keep in mind to invest only that much amount which you are willing to lose.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

FAQs

Is WazirX (WRX) a good investment?

Yes, WazirX is a good investment. All four websites are bullish on WRX and believe it is a good investment. The price predictions range from $1 to $5 by 2030. So, if you are thinking about investing in WRX, these predictions suggest that now is a good time.

Will the price of WRX go up?

Yes, the price of WazirX is expected to go up in the future. All four authority sites are bullish on WRX and believe it is a good investment. The price predictions range from a minimum price of $7.01and a maximum price of 8.59 by the end of 2031. So, if you are thinking about investing in WRX, these predictions suggest that now is a good time.

What is the all-time-high (ATH) WRX price?

The all-time high price of WazirX is $0.74. This was reached on January 7, 2018.

Where can I safely store WRX tokens?

WRX tokens can be safely held in Coinbase and Trust wallets.

Where can I get a WRX wallet?

WazirX produces its own wallet software that is available for download on its website, which allows you to store WazirX on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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