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Price Analysis

Monero Price Analysis: XMR Price Surges By 6% in last 24 Hours

The condition of the crypto market sphere is currently running at its worst with no sign of positive hopes for altcoin like Monero. Most of the altcoins like XMR coin are more prone to decline down at a fast pace than to hold on to their value in the upward trend. Even if it is trying to rise, intermediate declinations are unavoidable circumstances. The situation is further aggravated by the erratic and turbulent nature of Bitcoin, which is snatching away the values of almost all the altcoins.

Current Statistics of Monero:

  • XMR Price in USD: 96.357 USD
  • Price in BTC: 0.00809657 BTC
  • Market Cap: 1,652,293,667 USD
  • Circulating supply: 17,142,520 XMR

XMR to USD Price Comparison:

XMR Price Prediction
XMR Price Chart by TradingView

From the above 1-day Monero chart, it is highly evident that its downtrend is very persistent and strong. Its momentum is volatile and has been declining. Yesterday, it was mostly traded below the baseline and although it is trying to move above it today. But, XMR cannot retain this positivity longer for it lacks effective support levels which can give a good push to its value. As a result, getting back in the downtrend will be the possible outcome in the upcoming days as well. Yesterday, it traded at 90.780 USD, and today, it has reached 97.722 USD. So, within one day, the shift in the prices has been good enough with its value increasing by 6.13%.

Monero Price Prediction & Conclusion:

Currently, Monero is very unstable and get deterred very easily than to rise up in the bullish trend. It is a futile idea to invest in it as of now. The crypto market sphere is highly demotivating, and it is running the potentials of the altcoin like XMR. The upcoming days can also be very disappointing to the XMR community.

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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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