Monero(XMR) is acclaimed for its privacy features. It’s growth, since its launch in 2014, has been credited to confidential transactions and stealth addresses which provides anonymous and untraceable transactions. It has three key features; decentralization, privacy and security. The anonymous characteristic of this crypto coin helps to stand by the norms of both, digital currency and blockchain technology. Monero has had a hike even during the crypto market crash. It is a coin with a good short-term potential which can earn superior returns.
Monero(XMR) Price Today
XMR is currently trading at $139.78 with a market cap of $2.2 billion. Its trading volume at $3.7 million. It has gained by 9.38% against USD over the past 24 hours. The support level is at $128 and the resistance level is traced at $142. The daily price chart shows that XMR has displayed major fluctuations. Prices experienced a steep rise from the support and rose as high as $142 and then tumbled to $139. It can be seen easing back up from to $140. The prospects of XMR are getting better as the day ends.
As bitcoin earnestly tries to brave a bearish market Monero has been busy reaching its $150 target price. Currently, one XMR is equal to 0.211 BTC. It has gained on BTC by 4.56% over the past 24 hours.
XMR Price over Different Time Periods
XMR Price: Last seven days
XMR slipped by 0.63% on Sunday, following Saturday’s 3.42% hike, to end the week at $130 up by 7.5%. It supported a bullish move during the first half of the week. During the second half of the week, the coin lost nearly 2% since the start of the day and was down over 9% on a daily basis. This slump might be due to the South Korean regulations against money laundering which affects privacy centered coins like Monero.
XMR Price: Last 30 days
Monero chart for a month shows that the coin has had a bad spell. The prices are seen to tumble rapidly and at the same time experience great losses. The month began at $168, reached a resistance level of $174 and started to decline. The prices are still struggling to touch its former glory.
XMR Price: Last 90 days
With the resistance level set at $190, XMR exhibits a slow deterioration to reach below $150. The prices have decreased gradually and promised no hopes of a gain until today.
According to Longforecast, the price of XMR by the end of the year would be $94. This is roughly a 6% decrease from the current price trend. However, Monero can go over $100 as the coin has had a history of fighting of bearish markets. Monero is considered to be a good short-term investment option because of its stable nature. The 2020 forecast for XMR is estimated at $213 but it has the potential to rise above $1000 almost a ten-fold increase from the current value.XMR has fallen from the peak like most of the other crypto coins. Thus, buying it at the current prices can be deemed profitable.
Monero, Recent News
- A trans-Siberian train was reported to have accepted Monero as payment for beer.
- Monero will be added to Atomic Wallet in the next two weeks according to the announcement by the multi-assets wallet. The decentralized cryptocurrency exchange which is custody free supports atomic swaps.
As long as cryptocurrency upholds its policy of secret identity, the value of XMR will be enjoyed greatly by the investors. Monero is bringing more technology upgrades which will help them grow further. However, regulations can cost the currency. Also, Monero is battling scalability problems which can be a potential problem for the coin.
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