Reserve Right is a dual-token stablecoin platform launched in May 2019 following a successful initial exchange offer (IEO) on the Huobi Prime platform.
The provision of Reserve Right tokens includes stablecoin known as Reserve Stablecoin (RSV) which is backed by a group of assets managed by a smart contract.
However, for RSR tokens, it is more used to ensure that the RSV is always in a stable price level of $ 1.0 and also to assist holders in shaping the future of the Reserve Right ecosystem.
Nevin Freeman and Matt Elder are the individuals responsible for founding Reserve Right of which Freeman is the CEO as well as an experienced entrepreneur. Matt Elder, on the other hand, is the CTO of the project with experience working with Google and Quixey.
On the RSR/USDT chart, the RSR price movement has exhibited a jump of over 500% in 2021 before making a comeback to test the support level around $ 0.03.
Seen at the end of the May market and connecting to the June market, the price made a slight jump to test the SBR (support become resistance) level of $ 0.04- $ 0.05.
However, the uptrend did not continue when the RSR price movement re -tested the $ 0.03 support level and continued to move slowly at that level.
If the RSR price regains positive sentiment, the price spike is expected to return to the SBR level of $ 0.04- $ 0.05 to test.
If the surge is successful, the price will test the $ 0.06 level before the price movement tests the next SBR level at the $ 0.07 price level.
Indirectly, the surge will give a ray of hope to investors for the RSR price to make a more aggressive jump.
On the other hand if the price continues to be driven to make a decline, the 2021 market opening level around $ 0.02 will be tested to re -support the price spike.
The lower decline is expected to reach an all -time low (ATL) around the $ 0.007 price level.
As of 3.30pm local time, the RSR price is down more than 3% to trade at the $ 0.03 support level.
