Monero Price Analysis: The Altcoin Made a Sudden But Expected Downfall, With Its Rank Portraying the same
- Monero (XMR) went down from 13th to 14th place in cryptocurrency ranking.
- Market Capitalisation also reduces by almost a million USD.
Current Statistics Of XMR Coin (On June 26, at UTC 10:29):
- Monero (XMR) is currently trading around 104 USD.
- At the same time, Monero price (BTC) is 0.00821614 BTC.
- Additionally, the market capitalization of the crypto altcoin was 1,742,730,086 USD.
- With an ROI of 4,028.59%, the 24-hrs trading volume in Monero (XMR) was 237,875,313 USD.
- At the time of writing, the total Monero (XMR) chips circulating in the market was 17,063,873 XMR.
- On top of that, the altcoin is ranked at 14th place in the cryptocurrency market.
XMR to USD Price Comparison:
Let’s compare the current price of Monero with the price of the altcoin 25-days back. On June 02, Monero (XMR) was trading at 94.884 USD. However, today, the altcoin is trading with a hike of 9.6%. But, in the weekly trading, the crypto has gone down by a margin of 1.68%, from the trading price of 104.259 USD on June 20. Similarly, if you look at the previous day trading, the altcoin has seen a decline of 4.28%. Yesterday, the coin opened trading at 117.34 USD and wrapped the day up at 112.32 USD, showing an absolute decline of 5.02 USD.
Monero Price Prediction:
With the sudden decline in the price of Monero, it is tough to make any prediction. But, in yesterday’s analysis, we gave a hint regarding the possible breakdown.
As expected, the strength of Monero is fading away slowly. Although security and privacy is the key factor of the altcoin as there are several competitors in that space. Additionally, Monero is more of a transactional kind of cryptocurrency, and no one really wishes to hold it for long. However, the coin has strong community support and as per Monero prediction, it will soon bounce back.