In this article, we will be looking at the Workings of the Rocket Pool Protocol, the Market price prediction and analysis of its native token RPL, and other miscellaneous details like how to buy then and from where.
What is Rocket Pool (RPL)?
Rocket Pool works as a liquidity staking protocol for the Ethereum blockchain.
According to their website, Rocket Pool was designed to be a decentralized, trustless, community-owned protocol with compatibility in staking using the Ethereum network.
For as little as 0.01 ETH a user can participate in the staking mechanism of the network.
The protocol has a native governance token called (RPL).
Now let us look into the details of the Rocket Pool (RPL) token in the coming segment.
What is a Rocket Pool (RPL) token?
In this section, we will look at what the Rocket Pool (RPL) token is, what its functions are, and what its general market overview is.
The Rocket Pool (RPL) has been described to follow these particular use cases in the Rocket Pool (RPL) ecosystem.
- The coin can be used to reward the node operators in the network.
- As a requirement, the node operators will have to stake about 10% of the validator’s Ethereum (ETH) value in RPL
- The node operators who deposit RPL as collateral are given an extra commission for their collateral contribution.
- The mini pool segment in the protocol allows users to stake 16 ETH through a node to receive another 16 ETH as required to stake on the beacon’s chain.
These are some of the functions Rocket Pool (RPL) plays in the governance of the network
The table below shows the current market standing of the token.
| Name of the token | Rocket Pool |
| Token Marker | RPL |
| Current Price | $23.42 |
| Price Change | -5.5% |
| Market Cap | $478,206,535 |
| Volume (24h) | $8,838,126 |
The all-time high of the RPL token was recorded to be $154.73 and it achieved this on November 16, 2021, whereas the all-time low was recorded at $0.09118 on May 17, 2019.
Looking at the Rate of Investment (ROI) of the coin it can be seen that the coin is currently 25404.62% higher than its all-time low value and 84.97% lower than its all-time high value.
As an additional market index, The price volatility of the coin was around 11.59% throughout the run in the past months.
In the next two sections, we will look at the Market predictions, where to buy, and how to buy Rocket Pool (RPL) tokens.
Rocket Pool (RPL) Price Prediction 2024 – 2030
The table below is a list of Price predictions and market analyses made on the coin by popular analysts over the coming years till 2030.
| Years | Minimum Price | Maximum Price |
| 2024 | $20.32 | $32.71 |
| 2025 | $ 23.78 | $ 148.94 |
| 2026 | $ 25.41 | $ 119.87 |
| 2027 | $ 42.71 | $ 148.57 |
| 2028 | $ 50.24 | $ 99.62 |
| 2029 | $ 66.13 | $ 204.99 |
| 2030 | $ 67.66 | $ 172.68 |
The current market sentiment towards the coin is Bearish with the product having had 15 green and 15 red days after looking at the the performance of the coin in the past 30 days.
The sentiments towards the coin are still not overwhelmingly positive not negative as the graphs show 48% expecting a bullish trend while the other 52% expressing a bearish sentiment.
The same is reflected in the technical analysis indicators of the coin where 14 technical indicators show a bullish sign while 15 of them show bearish signs.
However, the price of Rocket Pool (RPL) is predicted to rise by about 37.55% and reach close to 32.71 by the end of July according to the technical indicators despite the almost neutral sentiment towards the coin.
Where to buy Rocket Pool (RPL)?
Rocket Pool (RPL) is listed in several popular cryptocurrency exchanges such as Coinbase Pro, Binance, Gate.io, OKX, Bitmart, Bybit, etc.
The user can select any of the exchanges from the list or any other reputable exchange listing the token.
How to buy Rocket Pool (RPL)?
In the paragraphs below we will look at the steps that one must follow to buy a Rocket Pool (RPL) token through a cryptocurrency exchange platform.
- The First step one must follow to buy the Rocket Pool (RPL) token is to open an account in any of the crypto trading platforms that have listed the Rocket Pool (RPL) token.
The customer will have to fill out the necessary information as required to complete the KYC verification such as email address, phone number, valid identification document, etc.
A list of exchanges that list the coin is given in the section above.
- In the Second step of the process, you will be required to choose the mode of payment that you would like to use to pay for the purchase of the coin.
A few of the exchanges might ask for you to transfer the fund beforehand to the account of the holder before making any transaction.
- The user can also make use of their crypto wallet to swap any of the other stablecoins for the Rocket Pool (RPL) coin.
- In the Third step click on the “Buy now” button on the loaded screen and wait to receive confirmation on the addition of the token to your account.
- As the final step, the user can transfer the added coin to their crypto wallet or store the coin in the wallets given by the exchange platform to earn rewards.
These steps should be followed by anyone who is looking to buy the Rocket Pool (RPL) token.
Let us now summarise and reflect on all the details that we have looked into about the Rocket Pool protocol and its RPL coin as final thoughts.
Final Thoughts
Based on the data that has been collected and the prediction and analysis that was made for the coin the path that the coin will travel through cannot be determined.
Most of the market predictions that have been made about the coin show the coin to follow through a short-term bullish phase with high chances of shifting to a bearish sentiment or even slipping in its value over the coming months.
Anyone who plans to buy the coin must therefore thoroughly analyze the market standing of the coin in both the present market condition as well as the predicted volume and quantity set to be met by the coin in the future.
