Price Analysis

Monero (XMR) Predictions: Can Monero’s 5th Anniversary Maturity Bring Some Stability?

Monero (XMR) is one of the few crypto coins in the market with a special focus on anonymity of transactions. It provides the option of doing transactions which are completely untraceable like fiat currencies. It uses some advanced features like Ring Signature and stealth addresses. The Ring Signature helps to hide the authentication keys of the transactions, and the Stealth address feature helps to conceal the IP address of the users. Monero (XMR) is operated on a platform which is completely decentralized without any outer interference.

Fifth Anniversary-

Monero coin (XMR) is celebrating the fifth year of operation in the global crypto market. As a fork of Bytecoin, it started its journey in 2014. Now, it has grown enormously in these five years.

“Monero gives you control over the privacy of your digital financial transactions,” said binaryFate, member of Monero’s core team. “This privacy is a fundamental human right for individuals and a competitive essential for businesses.”

As per experts and market enthusiasts, the biggest credit for the success of Monero coin (XMR) should go to the ability to provide 100 % anonymity.

Current Statistics-

Monero chart

  • The return on Investment of Monero (XMR) is 2656.32 %.
  • Monero is a 12th largest crypto coin in the market as far as market cap is concerned.
  • The current market cap on 18th April at 08:04 UTC stands at 1,158,501,134 USD.
  • The value of each coin stands at 68.44 USD and 0.01298045 BTC.
  • The 24 h volume stands at 100,908,401 USD at the same UTC.

Comparison-

Monero coin (XMR) has started the year with 46 USD price level. The price of each coin in terms of USD has shown much inconsistency in the market. But within a month’s time, it touched its lowest point of 42.62 USD. The recent growth was achieved after 1st April when the coin gained around 40 % of its value in just 3 days. The market cap of 18th March was 906,322,493 USD. And the value of each coin in terms of USD and BTC were 53.76 USD and 0.01327941 BTC respectively. The current market cap is 27.82 % more than the market cap of 18th March. And the value of the coin has increased by 27.30 % in the past 30 days.

Prediction-

The coin’s abrupt growth was short lived when it faced resistance at 66 USD. It fell back quickly and started a zig-zag growth. The coin is now being traded around 64 USD to 68 USD. But there is no sign of stability in the near future. The price may touch the 70 USD level this week, but the next resistance level should be there at 73 USD. The coin has a very good medium-term outlook. By the end of next quarter, the coin should be there at 75 USD or more than that. The 2019 prediction goes beyond 85 USD level.

Conclusion-

We advise the short term investors to wait for some more time to book a buying position. This coin has the potential to give quick profits. The long term outlook is bullish; it will give long term holders more than a 200 % profit in 2020.

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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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