Overview of Reserve Rights

Reserve Rights was established with the mission to provide access to stable currency to every person in the world. Reserve Rights project strongly believes that hyperinflation can be eradicated. They worked and developed financial software that can help humans deal with hyperinflation. Reserve was launched in May 2019 after an initial exchange offering at the Huobi Prime platform. Nevin Freeman and Matt Elder co-founded the company. Reserve Rights generate money by taking a fee from users who transact money through their financial app.

Reserve Rights Overview

Cryptocurrency Reserve Rights
Ticker Symbol RSR
Price $0.004339
Price Change 24h +48.22%
Price Change 7d +47.31%
Market cap $110,857,974
Circulating Supply 14,801,148,904 RSR
Trading Volume $112,940,229
All time high $0.1189
All time low $0.001247
Reserve Rights ROI +106.62%

Reserve Rights allows the user to save, transfer, spend and receive money through the Reserve app, and the native token is called the RSR. Reserve Rights have partnered with the Venezuelan government to resolve the problem of currency instability. They have established a corporate connection with 7 mobile Africa, Angola’s largest mobile phone importer. The major institutional investors of Reserve Rights include Coinbase Ventures, Digital Currency Group, NGC, Fenbushi Capital, Velorum Capital, Pre Angel, Rocket Fuel, Crypto Lotus, etc.

Reserve Rights projects aim to produce an alternative to fiat money by aggregating a basket of tokenized assets, which are stable in purchasing power. Reserve Rights plans to change the basket over time with a long-term view that the right basket for the current year may not be the same for the future. New additions and subtraction will be there every year based on the economic demands. The latest news from the authority of Reserve Rights is that they are working on a decentralized currency with a stable purchasing power.

How Do Reserve Rights Works?

Reserve Rights is a dual token stable coin platform secured by a proof-of-work consensus mechanism, an ERC-20 token on the Ethereum blockchain. The Reserve app allows users to transfer money via a stable currency. The value of the coin is protected from decreasing purchasing power, which aims to preserve the work and effort of the owner. Reserve stable coin called a Reserve token (RSV) is a cryptocurrency maintaining one-to-one equivalency with US dollars. It can be spent like fiat currency or USD. Now RSV can be exchanged for the national currencies of Venezuela, Colombia, and Argentina with the official Reserve app. In the future, it is planning to expand to all countries.

RSV is a stable coin, but RSR is volatile. The uniqueness of Reserve is that other stable coins are supported by USD held in a bank account and managed by a stable coin issuer. Still, RSV is controlled by the receptacle of cryptocurrency governed by smart contracts. As per current data, a basic stable coin deployed on Ethereum is backed by 1/3 USDC, 1/3 TUSD, and 1/3 PAX. The second is the Reserve Rights. RSR is used to keep RSV remain stable in its value.

RSR tokens are a utility asset; with the help of a complex system of decentralized arbitrage solutions, it helps to keep the price of the stable coin to remain at the value of the 1.00 dollar price target. Reserve Rights cryptocurrency is used as a governance token for the Reserve Rights platform. People who own Reserve Rights tokens (RSR) can vote for changes in Reserve Rights plans regarding future development. RSR holders can earn by interacting with the protocol when the protocol is completely live.

As of the 2021 Reserve Rights protocol, Reserve stable coins are called RTokens. The protocol allows any person to create the stable coin, and RToken will trade at a market value of the entire basket that backs it. RTokens can be insured and generate revenue from transactional fees; this revenue is shared with issuers of collateral tokens. Every RToken is governed separately with a different governance system.

Historical Data and Market Sentiment of RSR

According to Huobi’s official information, 3% of RSR tokens were sold on the initial two rounds of launch. The first round was via market order on a first-come, first-serve basis, and the second round was a limit order in which tokens were allocated according to purchase amount.

In the initial protocol launch, the core team is planning for two RToken one is a pure USD coin backed up only by USD fiat coins, and the other is yield-bearing USD coins which are backed by DeFi USD tokens. As per the latest news, the Reserve Rights ecosystem is highly dedicated to expanding with more complex digital instruments and adding assets to its digital Reserve. The current cryptocurrency market sentiments of RSR are negative and trading on a bearish trend. On Binance last one week, it has given a loss of almost 30% for investors.

Reserve Rights Cryptocurrency Prediction

The total market cap is $228,392,585, with a total supply of 100,000,000,000 tokens. The circulating supply is 13,159,997,677 RSR, and the Reserve Rights price today is $0.017. Analyzing the historical data of RSR price on the daily chart, the All-time high at which RSR traded was $0.1189 on April 16, 2021, while the lowest price at which RSR traded was $0.001247 on March 2020. In the last six months, Reserve Rights gave the investors a significant loss. Crypto markets are always volatile amid global sentiments; the RSR nature is also highly volatile, and more risks are involved since it depends on other currencies and many other factors.

Reserve Rights Technical Analysis

Technical analysis on daily charts shows that the current price of RSR is $0.017 with an 8.43% loss and a 24-hour trading volume of $28,817,332. The minimum price of today’s trading session is $0.01749, and the maximum price is $0.019.

reserve rights price prediction

The RSR price chart shows that the Reserve Rights price has decreased from all time and traded sideways. Later on, in July, the morning star confirmation on the chart initiated an uptrend; RSR gathered momentum and covered 50%. Then it witnessed a trend reversal, sell signals have appeared, RSR’s price fell from the support levels forming lower lows with reduced volume.

Reserve Rights Price Forecast

From the last May onwards, RSR price is trading sideways, and on a parallel channel, OBV is not sustained. It is fluctuating, but traders are not completely giving up hope on Reserve Rights; On-Balance-Volume is placed at 4.65 Billion, fluctuation shows the uncertainty of Reserve Rights price prediction.

RSR Price Prediction

The price of Reserve Rights has broken the nearby support at $0.017 and moving towards the $0.0166 support zone; the major support is placed at $0.0076. if the bearish trend pulls the price of Reserve Rights below the major support zone, it will be a hurdle for the coin. On the daily chart, the predicted level of nearby resistance is at $0.027. if RSR/USD breaks this level, the crypto will move to test the resistance level of $0.040, the price of Reserve Rights has to jump the major resistance is placed at $0.04365 before entering the uptrend towards an all-time high.