The Render price (RNDR) has recently surged by a significant 20% in just 24 hours, undoubtedly due to the exciting news that Apple plans to reveal its long-awaited VR headset on June 5. At $2.36, RNDR has witnessed a 38% increase in the past week and an 18% rise in the last 30 days. With the impressive growth rate of more than 480% since the start of the year, the cryptocurrency community has high hopes for the altcoin.
Render’s blockchain serves as a decentralized GPU network with applications in virtual reality and the metaverse. As a result, the market expects that Apple’s VR headset launch will contribute to an increased adoption for Render. Furthermore, the recent launch of Render’s app for iPads increases the likelihood that Apple’s new headset developers will utilize the Render network, providing a significant boost to RNDR’s value.
RNDR’s chart reveals the token’s breakout mode, with its indicators suggesting a potential peak in the ongoing rally. However, the momentum remains high, as evidenced by RNDR’s 30-day moving average racing far above its 200-day average. This indicates that the rally might continue much longer. The altcoin’s adherence to new support levels demonstrates that it will likely consolidate around a higher price.
Render’s parent company launched OctaneX in December, a real-time photorealistic 3D rendering app for M1 and M2 iPads powered by Render. With the upcoming release of Apple’s VR headset, developers could utilize OctaneX, resulting in greater demand for RNDR. This connection to Apple’s VR headset suggests a high likelihood of RNDR experiencing further increases in value.
Considering VR has been around for several years without significant mainstream impact, the long-term growth process might be slow. However, Apple’s entry into the VR market could spark an arms race between big tech giants, leading to a broader adoption of virtual reality. In which case, RNDR could enjoy long-term prospects that many altcoins can only dream of, potentially leading to sustained appreciation in its value.
Currently priced at $2.36, RNDR could reach $2.50 in the following weeks, and the year’s end may see it touching the $5 mark. On the other hand, traders with
Source: Cryptonews
