WRX Price Prediction 2023-2032: Will WazirX Recover Soon?

wrx price

WRX Price Prediction 2023-2032

How much is WRX worth?

The current price of WazirX (WRX) is $0.122, accompanied by a 24-hour trading volume of $1.1 million. The market capitalization stands at $50.9 million, and WazirX holds a market dominance of 0.00%. Over the past 24 hours, the WRX price has witnessed a 0.11% decrease. Currently, there are 381.86 million WRX tokens in circulation out of a maximum supply of 962.65 million WRX tokens. WazirX holds the 20th position in the Exchange Tokens sector and the 11th position in the Binance Smart Chain sector based on market capitalization.

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WazirX price analysis: WRX price continues to struggle in surging above $0.125

TL; DR Breakdown

  • WRX price analysis shows a bearish trend following a rejection above $0.125
  • Resistance for WRX is present at $0.1347
  • Support for WRX/USDT is present at $0.0992

The WazirX price analysis for 27 November confirms that WRX price triggered a bearish pressure after facing minor selloff above $0.125. Due to the recent rejection, WRX price is currently forming a bearish channel pattern.

WazirX price analysis 1-day chart: WRX/USDT traps buyers near $0.125

Analyzing the daily price chart of WazirX, WRX’s price witnessed a bearish sentiment as the altcoin failed to gain buying demand near the high of $0.125. Due to a surge in selling pressure with rejection, sellers are currently dominating and WRX price is facing downward volatility, initiating concerns of a break below immediate support line. The 24-hour volume has surged to $1 million, showing an increased interest in trading activity today. WRX’s price is currently trading at $0.1237, increasing over 1.6% in the last 24 hours.

The RSI-14 trend line has surged from its previous level and currently trades at 51-level, hinting at a minor increase in buying sentiment. The SMA-14 level suggests volatility in the next few hours.

WRX/USDT 4-hour price chart: WRX price attempts a decline below EMA20

The 4-hour WRX price chart suggests that bears are attempting to hold the altcoin below crucial support line to solidify their short positions. Currently, buyers are attempting to send the altcoin in a buying region by defending a drop below EMA20 trend line.

The BoP indicator is trading in bearish region at 0.64, bringing concerns of a downward correction.

Additionally, the MACD trend line has formed bearish candles below the signal line and the trend line attempts for a negative reversal, developing selling sentiment among traders.

What to expect from WRX price analysis next?

WRX bulls are currently defending a trade below $0.1; however, bears are set to bring pressure if WRX price fails to attain buying momentum. If WRX’s price successfully holds its momentum above $0.1347, it may surge higher and touch the resistance at $0.1603.

If bulls fail to initiate a surge, WRX price may drop below the immediate support line at $0.0992, resulting in a steep decline to $0.0777.

News on WazirX

If you are the coin you buy, what would you be? With this WRX Price Prediction, is there a chance you can be this crypto?

In this continued effort to provide transparency to users & safeguard their assets, they have launched another edition of their Transparency Report. Developments covered in the report occurred between Oct’22 & March ’23.

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?

There seems another trouble brewing but we hope it gets sorted soon.

WazirX Price Predictions 2023-2032

Price Predictions By Cryptopolitan 

YearMinimum ($)Average ($)Maximum ($)
20230.140.140.15
20240.20.210.24
20250.280.290.35
20260.390.40.48
20270.560.580.69
20280.870.90.99
20291.241.281.5
20301.771.822.17
20312.582.673.04
20323.813.924.5

WazirX Price Prediction 2023

Based on our comprehensive technical analysis of past WRX price data, we forecast that in 2023, WazirX will have a price range with a minimum of $0.14, peaking at $0.15, and an average trading value of $0.14.

WazirX Price Prediction 2024

For 2024, our data suggests that WazirX’s price will likely hover around a minimum price of $0.20. The WRX price might surge to a high of $0.24, with an average projected price of $0.21.

WRX Price Forecast for 2025

Based on our analysis and predictions, WazirX’s price in 2025 is anticipated to be at least $0.28. It might climb to a maximum price of $0.35, maintaining an average price of $0.29.

WazirX (WRX) Price Prediction 2026

In 2026, we anticipate WazirX’s price to start at a base of $0.39. Our data indicates that the WRX price has the potential to touch a high of $0.48, with an average price settling at $0.40.

WazirX Price Prediction 2027

For the year 2027, we predict WazirX’s price to be at a baseline of $0.56. It could potentially escalate to $0.69, with an average consistent price of $0.58.

WazirX Price Prediction 2028

In 2028, the projected price of a single WazirX is to be at a minimum of $0.87. The WRX price might peak at $0.99, averaging around $0.90 for the year.

WazirX (WRX) Price Prediction 2029

Our in-depth technical analysis suggests that in 2029, WazirX’s price will likely be at a base of $1.24. The WRX price has the potential to reach a high of $1.50, with an average trading value of $1.28.

WazirX Price Forecast 2030

By 2030, we anticipate the WazirX price to start at $1.77 as a minimum. It could see highs of up to $2.17, with an average trading price of around $1.82.

WazirX (WRX) Price Prediction 2031

Our forecast for 2031 suggests that WazirX’s price will be at least $2.58. The WRX price might surge to a maximum of $3.04, with an average trading value of $2.67.

WazirX Price Prediction 2032

In 2032, we predict that WazirX will have a price starting at $3.81 as a minimum. It could potentially reach a high of $4.50, with an average trading price of $3.92 for the year.

WazirX Price Prediction By Coincodex 

According to the latest price prediction from Coincodex, the value of WazirX is anticipated to decline by -7.28%, targeting a price of $0.112441 by December 1, 2023. The platform’s technical indicators suggest a Neutral market sentiment, while the Fear & Greed Index indicates a score of 73, representing Greed. WazirX has experienced 17 out of 30 green days, which is about 57% of the time, and has shown a price volatility of 5.01% in the last 30 days.

Coincodex’s forecast implies that it might be a favorable time to purchase WazirX. Additionally, considering the historical price trends of WazirX and Bitcoin halving cycles, Coincodex estimates that the lowest price for WazirX in 2024 could be around $0.105461, while its highest price might reach up to $0.279117 in the next year.

WazirX Price Prediction By Digital Coin Price

According to Digital Coin Price’s WRX coin price forecast, WRX may witness a price rise as the value of WRX is anticipated to surpass the $0.27 mark in 2024. Furthermore, by the year’s end, WazirX is projected to attain a floor price of $0.26. Moreover, the potential of WRX’s value could elevate to a peak of $0.31.

In 2032, the projected value of WRX is anticipated to surpass $2.29. WazirX’s minimum expected rate by the year’s end is predicted to be $2.28. Furthermore, the WRX valuation has the potential to achieve a peak of $2.30. 

WazirX Price Prediction By CryptoPredictions.com

CryptoPredictions.com’s WazirX price prediction forecasts that WazirX is expected to commence in December 2023 at a price of $0.14, with a surge to $0.149 by the month’s end. Throughout December, the highest projected price for WRX is $0.205, while the lowest anticipated price stands at $0.14.

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.

Legal Actions

WazirX, the cryptocurrency exchange, has revealed that it took action against over 2,431 accounts by blacklisting them after identifying suspicious transactions deemed illegal. The exchange implemented this measure between October of the previous year and March of 2023.

WazirX’s recently published report states that they received a total of 431 requests from law enforcement agencies (LEAs) during this timeframe. These requests pertained to transactions valued at approximately $390 million conducted on the platform. Out of the 431 requests, 46 originated from foreign LEAs, while the remaining 385 requests were from Indian LEAs.

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.

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.

Conclusion

WazirX’s current estimate for 2023 is Neutral, based on various technical quantitative indicators. This could indicate that WazirX is a good investment in 2023. However, before deciding whether to acquire WazirX or not, it is critical to evaluate both technical criteria (price history) and fundamental factors (on-chain activity and development). WazirX’s future is greatly dependent on the overall performance of the cryptocurrency sector.

However, WRX remains a fantastic investment for people with a high-risk tolerance and a stable financial situation. Aside from its speculative nature, WRX provides exposure to worldwide technology and an ever-expanding ecosystem.

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 $6 to $8 by 2032. 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 $6.27 and a maximum price of $7.86 by the end of 2032. 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.

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.

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Shayan Chowdhury

Written by Shayan Chowdhury

Shayan is a professional crypto journalist with over 4 years of experience, specializing in cryptographic modules and blockchain development. He delivers easy-to-understand crypto content through in-depth research and technical insights.
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