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Price Analysis

Monero (XMR) Price Prediction: Software Pruning & I2P Features Are Added to The Crypto Chain

In order to enhance scalability, Monero (XMR) recently added blockchain pruning to its software. This feature allows users to optionally “prune” about 2/3 of the blockchain data, while still contributing to the network. An additional feature called I2P-zero is also bundled with Monero. This allows users to use Monero nodes more privately by securing metadata and obfuscating the users IP address.

Monero Current Statistics:

  • On June 11, at UTC 10:42, Monero vs. USD was trading at 88.344 USD.
  • Monero (XMR) vs. Bitcoin was at 0.01108231 BTC.
  • Again, the market cap of the altcoin was 1,498,873,410 USD.
  • The 24-hr trading volume in the altcoin was 143,170,880 USD.
  • Along with an ROI of 3,456.49%, there were a total of 17,037,002 XMR chips were in circulation, at the above mentioned time.

XMR Price Comparison:

Monero price chart - 12 june

Let’s draw a price comparison of Monero over a period of 25-days. On May 18, the altcoin was trading at $79.934. However, today, the digital currency is trading with a hike of 10.52%. In the weekly chart, the coin has shown some strengthening as well. 7-days back, on June 05, Monero (XMR) was trading at 85.506 USD, but since then its value has gone up by 3.02%.

Monero Price Prediction:

At the time of writing, Monero was showing an upward movement, and as per our speculation, XMR will trade around $100 mark by the end of 2019. For now, there is a short term resistance level at $90, along with support at 80 USD.

Conclusion: 

Amidst the bullish market, all seems to be going good for Monero (XMR). With the latest RandomX protocol update and few fundamental changes in the security patches, along with the auditing of the blockchain, will surely infuse a sense of relief and assurance among the potential investors.

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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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