Monero (XMR) Price Analysis: XMR Has Immense Potential, Targeting at 200USD By The EOY

  • Decentralized Control and lack of management at the top is working great for Monero (XMR).
  • The USD Vs. Monero price also hiked and valued at USD 97.616.

Scalability of the blockchain is the major hindrance for Monero at present. The Ring Signature mechanism is soon going to be replaced by Bullet Proof protocol, which will be a new dawn for the blockchain.

XMR Price Analysis:

Monero chart

  • Monero (XMR) ranks at 13th place in cryptocurrency market rankings.
  • On May 28, at UTC 07:28, the 24-Hour volume of Monero is USD 257,817,351.
  • At the above mentioned time, Market Capitalization of the crypto was USD 1,653,835,698, with a total of 17,007,540 XMR coins in circulation.
  • Monero Vs. Bitcoin pricing was valued at 0.01088050 BTC per chip.
  • 25-days back, on May 3, Monero (XMR) was trading at 70.263 USD, however, since then its price hiked by 41.77% with the current price of USD 97.616.

XMR Price Comparison:

Time Period High Low
All-Time 495.84 USD

(Jan 07, 2018)

0.212967 USD

(Jan 14, 2015)

Yesterday 98.86 USD 91.95 USD
7-days 98.86 USD 81.01 USD
30-days 98.86 USD 59.78 USD

In an intraday trading, yesterday, Monero (XMR)’s price strengthened by almost $6. While the altcoin opened at 92.02 USD, it closed the day at 97.97 USD, with a bounce of 6.46% and total trading volume of 234,053,891 USD, for the previous day.

Monero (XMR) Price Prediction:

Because of Monero’s focus on security and anonymity, the extension and scalability of blockchain is a major concern for the development team. However, a dedicated team of developers is working round the clock to make sure that the chain must be scaled at its optimum ability. As per the Monero future, there is short-term resistance at 120 USD for XMR. Additionally, Monero (XMR) is well-equipped to pass its end of 2019 target of $200 much early if it breaks out the resistance.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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