Rocket Pool Price Prediction As $18 Million Trading Volume Comes In – $100 RPL Incoming?

The Rocket Pool’s price rally resumed soon after the United States Federal Reserve’s disinflation statement on Wednesday. The Federal Open Market Committee (FOMC) meeting earlier this week raised interest rates by an expected 25 basis points. Investors interpreted the decision as a green light for economic recovery amid falling inflation.

The RPL rose above the psychological $40.00 level, with the candle wick marking a high of $43.77. Ethereum’s liquid staking token is holding at $41.74 at time of writing as bulls plot how to make another spike above $50.00. Note that a break and hold above this short-term hurdle could catalyze the second phase of the $100.00 rally.

3 Live Main Rocket Pool Governance Proposals

The Rocket Pool team has announced three important governance proposals that start with a self-limiting framework. The other two will address the need to optimize protocol settings for Atlas upgrades and selected housekeeping changes for the Grant Management Committee (GMC).

Voting is already underway with proposed changes in protocol arrangements for Atlas to gather a 130% quorum. The vote will determine how settings will change in response to Atlas and the upcoming pullout fork.

According to the Rocket Pool development team, arrangements will be changed to cater for various elements such as allowing pent-up demand to build up in the pool of deposits, amid expectations of greater supply. It will also remember the maximum resistance (APR).

In anticipation of the Ethereum Shanghai upgrade, the protocol change will allow easier movement of ETH from rETH contracts to deposit pools. This is important because it will speed up the supply side stripping process, thereby minimizing unproductive ETH protocols.

Details on the other two proposals can be found via the tweets below. However, it’s worth mentioning that voting closes in about a week. Node operators have been summoned to exercise their effective RPL voting rights to work before time elapses.

(3) Rocket Pool on Twitter: “Three active Rocket Pool governance proposals, including self-limiting framework, optimizing protocol settings for Atlas upgrades, & housekeeping changes for GMC Node Operators can exercise their effective RPL vote to work on the link under https://t.co/rv9Mi4AT02” / Twitter

Can Ethereum Shanghai Increase Blast Rocket Pool Beyond $100?

Investors are waiting with bated breath for the launch of the Ethereum Shanghai upgrade in Q1 2023. Following its successful launch, stakers will, for the first time, gain access to ETH locked in the Beacon Chain before transitioning to a proof-of-stake consensus (PoS) mechanism.

Analysts and experts in the crypto industry foresee this event being the catalyst for liquid staking platforms such as Rocket Pool and LidoDAO. Investors tend to direct their Ethereum away from the Beacon Chain smart contracts to platforms that allow them to lock up funds and still have access to their liquidity.

Thus, the popularity of Rocket Poll and LidoDAO among other liquid staking platforms is expected to grow astronomically. Rocket Pool has announced a new reTH integration, enabling investors to earn interest on reTH deposits or borrow ETH and XAI as collateral via a platform called Silo Finance.

(3) Rocket Pool on Twitter: “New $rETH DeFi integration just launched – you can now earn interest on $rETH deposits or borrow $ETH & $XAI as collateral for up to 80% LTV with @SiloFinance! Check out the Silo risk isolating bridge asset design: https://t.co/keHb8e5ehr https://t.co/l2ImTKNm21” / Twitter

Rocket Pool Price Set to Rise To $100 Again

Rocket Pool price is holding above the newly formed support at $40.00. A daily close above this level should increase investors’ confidence in the uptrend that has persisted since November last year. Additionally, ongoing governance proposals require community members to own RPL tokens to participate in the voting process.

With demand for the RPL growing, a bullish break above $50.00 would pave the way for a second phase of recovery targeting $10.00.

Meanwhile, the bullish outlook on Rocket Pool prices is supported by the golden cross pattern presented in early January. Many cryptocurrencies launched into bull markets with the 50-day Exponential Moving Average (EMA) (in red) lifting above the 200-day EMA (in purple).

The Moving Average Convergence Divergence (MACD) indicator has reaffirmed a buy signal on the daily chart of the same time frame. Watch the MACD line, although in positive territory above the average line (0.00), is strengthening again above the red signal line. If this position holds into the coming sessions, possibly a few days, Rocket Pool price will quickly move to close the gap towards $50.00.

Another buy signal from the SuperTrend indicator reveals that Rocket Pool price is in a better position to climb the ladder, at least above $50.00, compared to dropping to retest the support provided by the 50 day EMA at $30.00.

Like a moving average, SuperTrend overlays the chart, but integrates the average true range (ATR) in measuring market volatility. Investors are forced to buy when the indicator flips below the price and turns green. As long as SuperTrend follows the RPL, price will have the necessary momentum to hold above $40.00 and even widen above $50.00.

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