Monero (XMR) Price Analysis: 2019 is Going to be A Luscious Year to Monero as it Can Hit $600 Mark Very Soon

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Monero is a special form of digital currency that uses cryptography for ensuring that all transactions remain untraceable. It was created in 2012, and it incepted as a fork of Bitcoin blockchain, initially termed as Bitmonero. The fact that Monero is completely fungible and one can have full control over his transactions and currency are the best parts of this crypto.

Current status of Monero (XMR)

XMR is currently getting traded at USD 57.61 (UTC time 06:52). It is currently running on a bullish trend by 7.65%. With a market cap of USD 973,070,734 and a circulating supply of 16,890,249 XMR, Monero is the 14th largest cryptocurrency in the crypto sphere.

Price analysis of XMR on the basis of Monero charts

The above chart shows that currently, XMR is getting traded at 57.58 USD or 0.01395007 BTC (UTC time 06:57). Its current market cap is worth of 972,574,695 USD with a 24h volume 108,671,519 USD. The same chart shows that approx. One month earlier, XMR had a trading point of 50.80 USD. So, within this approx. One month duration, the value of XMR has hiked up by 13.34% with 52.28 USD as a good support resistance.

Future predictions of XMR

XMR is the most prominent privacy coin in terms of its market cap. It has been gaining huge acceptance recently. It made various improvements regarding its privacy and coding over the years. Recently, Exodus Eden added Monero to its latest version 19.2.2 where one of the pipeline features was that one could use his XMR.

According to Long Forecast, Monero can trade around $554-$638 by April 2020, and it can shoot up to $810-$945 by the end of 2020. Trading beasts think that Monero can be $150 within a year and it can be approx. $200 by 2020. Crypto ground has predicted XMR can spike u to $118.02 by 2019 end and in 5 years, it can even touch $500 mark. Profit Confidential has assumed that XMR can be around $350 by the end of this year.

Conclusion

XMR can be a good option for a long term investment on the basis of its performances and above predictions and analysis.