Monero Price Analysis: Bit of Stability In Falling Price of XMR, Still Have a Long Way to GO

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Monero (XMR) released the details of the latest command line interface update of ‘Boron Butterfly’ v0.14.1.0. The latest update includes state of the art features like blockchain pruning, deterministic builds, Trezor support for the chain, Ledger Nano X support, Tor & I2P (CLI) wallet integration, and several other features.

Current Statistics of XMR Coin (On June 28, at UTC 00:37):

Monero Price Chart - 28 June
Monero Price Chart
  • The trading price of Monero against the US Dollar was 95.991.
  • At the same time, Monero was trading at 0.00844427 BTC.
  • Additionally, the Market Cap of the XMR coin was 1,631,358,962 USD.
  • With a Return on Investment of 3,764.09%, the total Monero coins circulating in the market was 17,066,803 XMR.
  • At the time of writing, the 24-hour trading volume in Monero (XMR) was 169,089,404 USD.

XMR to USD Price Comparison:

On June 03, Monero was trading at 94.801 USD. However, today after 25-days, the altcoin has shown a marginal strengthening of 1.25%. However, in the weekly chart, the crypto has gone down by a substantial margin of 13.76%, from the trading price of 111.707 USD on June 22. The coin had also suffered huge intraday decline yesterday opened yesterday at 103.94 USD, and with a breakdown of 9.17%, Monero wrapped the day up at 94.41 USD.

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Monero Price Prediction:

Monero (XMR) has seen a bit of stability today, and at the time of writing, it was trading in the green zone. However, the bullish trend of the coin has not faded away completely. Looking at the present levels, it is a tough task to make any prediction. For now, Monero has a support level at 87.12 USD. Further, there is another support level at 78.67 USD, but it is most unlikely for the coin to stoop to that level.

Conclusion:

The community and developer team is working hard to maintain the market strength of Monero (XMR). Although the falling price has slowed down as of now, no one is certain for its future. It is advised to avoid trading in Monero in the current scenario. One should wait for the next few days in order to get a sense of where the altcoin is moving from here.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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