Loopring (LRC) is struggling to recover its June losses and return above $0.260, the level that was last recorded in May 2023. The rise above $0.260 level could secure the altcoin of a further drop of prices.

Loopring has recently announced deploying its Layer 3 on the Taiko alpha-3 zkEVM testnet. This will hopefully allow greater scalability and optimization of its dApps and smart wallet.

However, investors were not greatly impressed, as LRC prices failed to break the resistance at $0.240-0.260, and rolled back. The altcoin prices are likely to fall by 30% down, unless something very positive would help it to pass the resistance.