Bitcoin
BTC$42 031.59

-3.48%

Ethereum
ETH$2 918.83

-5.04%

Tether
USDT$1.000459

-0.02%

Cardano
ADA$2.12

-3.86%

Binance Coin
BNB$341.96

-1.79%

XRP
XRP$0.930539

-2.70%

Monero will not see a strong surge in the near future


#Monero

Monero (XMR) is one of the rare few cryptocurrencies that are currently trading in the green, while the majority of the crypto market experiences losses. The coin sits as the 14th largest cryptocurrency by market cap, with the current price of $53.84, and a market cap of $934.15 million.

With the current period being rather uncertain when it comes to the future of cryptocurrencies, many are wondering what might happen to Monero in the near future. Today, we will try to answer that.

Monero so far


Monero is a privacy coin, and the biggest one in the world, at that. It was launched back in May 2014, although it did not start attracting attention until early 2017.

During the price surge in late 2017, XMR skyrocketed from $12 to $150, only to break all records in the reak surge in the first days of January 2018, when it hit $450.

Following this growth, Monero crashed together with the rest of the market, continuously going down as 2018 moved on. Its drop was stopped by a support at $40, after the coin broke every previous support level that it ran into.

It remained there for a few months, and then it finally started growing once more in early 2019. It participated in the bull runs that Bitcoin started throughout the first half of the year, once again breaching $100 in June. Its highest point in 2019 was at $117, which was reached on June 24th.

Since then, the market entered a correction period that never really stopped for most cryptocurrencies. A lot of coins are currently below the levels at which they were at the beginning of the year. Monero did not drop that much, but it is currently only slightly above them.

When the year started, the coin's price struggled to breach the resistance level at $50. Currently, the same level acts as a support. However, it appears to be a strong support, as it managed to hold on since the beginning of October.

Where will XMR go from here?


Like pretty much all other cryptocurrencies, Monero follows Bitcoin's lead, and Bitcoin is currently not in a good place. Experts believe that the coin is likely to see a major drop in days to come, although its fate has not yet been decided. BTC does have a chance to bounce back, and the same is true for Monero.

While it seems unlikely that Monero will see a strong surge in the near future, the coin's support might still hold. If it breaks, it will likely once again turn into a resistance, and it will be quite difficult to breach.

In other words, Monero's best-case scenario is for the coin's price to remain where it is for the time being. As for its price in the long run, it is far more difficult to accurately predict. As a privacy coin, Monero is often facing difficulties, as not a lot of crypto exchanges have it listed. However, it is still the biggest privacy coin, with its daily trading volume being well above $100 million.

Author: Ali Raza for Crypto-Rating.com

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 79.2% 41 $42 031.59 -3.48% -2.59% $791 393 954 252 $31 747 117 181
2 Ethereum (ETH) ETH Ethereum predictions 70.4% 56 $2 918.83 -5.04% -3.78% $343 568 213 349 $17 440 054 934
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000459 -0.02% 0.01% $68 574 589 302 $69 040 305 714
4 Cardano (ADA) ADA Cardano predictions 65.2% 70 $2.12 -3.86% -2.03% $67 842 308 406 $2 790 874 402
5 Binance Coin (BNB) BNB Binance Coin predictions 72.8% 59 $341.96 -1.79% -7.48% $57 495 736 706 $1 499 392 995
6 XRP (XRP) XRP XRP predictions 74.4% 50 $0.930539 -2.70% -0.96% $43 472 608 125 $2 798 278 933
7 Solana (SOL) SOL Solana predictions 67.6% 68 $134.46 -7.35% -4.28% $39 991 503 535 $2 559 971 396
8 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000432 0% 0.01% $31 274 186 323 $3 304 747 454
9 Polkadot (DOT) DOT Polkadot predictions 69.6% 68 $27.75 -3.90% -5.26% $27 404 751 396 $1 534 718 165
10 Dogecoin (DOGE) DOGE Dogecoin predictions 71.2% 63 $0.200627 -1.87% -6.10% $26 377 191 591 $850 603 349
11 UniSwap (UNI) UNI UniSwap predictions 67.6% 68 $24.35 1.57% 14.50% $14 894 976 126 $1 220 639 004
12 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 84 $66.26 -7.62% 2.41% $14 596 076 840 $1 012 955 214
13 Terra (LUNA) LUNA Terra predictions 71.2% 60 $35.29 -4.09% 24.68% $14 110 398 958 $1 562 373 257
14 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000438 0.02% -0.01% $13 532 008 893 $4 826 393 143
15 Chainlink (LINK) LINK Chainlink predictions 68% 70 $23.39 -2.95% -1.74% $10 644 298 254 $1 068 673 199

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