Price Analysis

Monero (XMR) Price Analysis: Monero Has Tied-up With Trezor Hardware Wallet; Target At $120

  • Monero has associated with the gaming community, Trippki, and Trezor wallet.
  • The 2020 prediction goes with $120 target.

Monero (XMR) coin is predominantly used because of its security, privacy, and anonymity related features. This coin is completely untraceable, and it is being used similar to fiat currency. The features like Ring Signature and Stealth address have attracted a huge customer base towards this coin. After several deals with some major hotels and gaming community, Monero (XMR) has tied up with Trezor wallet recently. This will boost the brand image of Monero and will help in gaining an edge over peers.

Current Statistics-

Monero

  • Monero (XMR) is the 12th largest coin in the global crypto world.
  • The ROI (Return on Investment) of Monero stands at 2513.74%.
  • A total of 16,971,096 XMR coins are in current circulation.
  • The current market cap of Monero (XMR) at 01:34 UTC stands at $1,098,311,214.
  • The value of each coin is $64.72 and 0.01049982 BTC.
  • The current 24h volume at the same UTC stands at $37,980,941.

Comparison-

Monero (XMR) started the year with $46 mark right after the so-called crypto winter. The momentum was continued for a short span and it started showing many abrupt ups and downs. However, a stable growth can be noticed on Monero’s track at the onset of April. However, this growth was sustained for a period longer than expected. The value is now undergoing a price correction stage. The market cap on 10th April was $1,159,564,154 and the value of each Monero coin was $68.58 and 0.01314790 BTC. The current market cap and the value of each Monero coin are almost 5% less than the value of 10th April. Prediction-

Recently, Monero (XMR) has come into agreement with many diverse and major forms. It first took a plunge into the gaming community by associating with Xbox and then it associated itself with the travel major firm, Trippki. Now, it has managed to list itself as a payment alternative on the Trezor platform. Along with major cryptos like Bitcoin and Litecoin, one can buy a Trezor hardware wallet paying Monero coins as well. These things will have a bullish bearing on the outlook of Monero. The short term prediction goes with $70 with resistance at $72. The long term outlook goes with $100 to $120 level.

Conclusion-

As a short term growth is anticipated, this is the perfect time for buying Monero coins. Long term holding at least until 2020 will give almost 50% profit on the invested amount.

Tags

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.
Event Information
Event Information
Back to top button