This article is also available in Spanish.
Hedera Hashgraph’s native coin, HBAR, is the talk of the cryptocurrency market following a dramatic price increase. In a span of four weeks, the coin reversed a bearish trend that had persisted for more than 1,000 days. With increasing investor interest, experts are piling on the forecast of higher prices, which suggests an increase in faith in this public brochure of the business level.
Related Reading
The HBAR price was $0.3173 at the time of writing. Although the coin has fallen by 10% in the last 24 hours, it has performed very well during the week and the month. Notably, HBAR has maintained a massive rally of 801% over the past 30 days, which has made buyers very happy.
What is driving this momentum? A combination of new developments, partnerships, and market prospects. The HBAR iteration is more than just a price increase—it’s a change in how the project is positioned in the blockchain space.
Potential Bull Market Targets
Analysts have expressed hope for $5 for HBAR as the cryptocurrency bull market continues. $2.50 in savings indicates significant growth potential if the market peaks in April 2025. This positive attitude is not based on mere speculation. Hedera is gearing up for major announcements that include a new privacy layer that will allow consumers to create private network environments while still connected to the public blockchain.
Dr. Leemon Baird, founder of Hedera, believes that this level of privacy has the potential to change areas such as finance, healthcare, and supply chain management. Hedera addresses key gaps in blockchain technology by providing organizations with a secure yet interoperable solution.
Ripple Partnership Enhances HBAR Discovery
Hedera’s growing integration with blockchain-based payment systems is another encouraging factor. Technology, through Dropp, plays a key role in the Federal Reserve’s FedNow system, enabling fast and secure transactions.
In addition, its partnership with Ripple (XRP) proves to be a strong contender in managing the USD exchange. The possible validation of the RLUSD stablecoin by Ripple in December could help HBAR’s position in the payments ecosystem to be strengthened, and therefore promote adoption in many sectors.
Related Reading
Performance Improvement Establishes New Standards
Hedera does not stand for privacy. A major upgrade is on the way, which could increase throughput to 500,000 operations per second (TPS). This development will make Hedera the fastest blockchain network in the world, a position that could significantly change the dynamics of the market.
$HBAR (Hedera) continues to show significant strength here and could be positioned to continue with ≈$0.504 still playing as a target!
With this target in play, we can see close to 3X from here for an additional +192% increase to reach… pic.twitter.com/26wq1Tp9ga
— JAVON⚡️MARKS (@JavonTM1) November 29, 2024
Although the Relative Strength Index (RSI) points to increased buying activity, approaching overbought levels can indicate profit taking. Still, experts like Javon Marks are optimistic, predicting a rise to $0.504, almost three times its current value.
Open interest in HBAR trading rose 28% to $187 million. Higher incomes indicate more confidence, suggesting that HBAR increases may continue. Hedera’s progress should be monitored by investors and enthusiasts.
Featured image from Pexels, chart from TradingView