Monero (XMR) Price Analysis: Bear is Mauling Monero; Bullish Rally Unlikely on Short-term

Fibo Quantum

Monero (XMR) is one of the major cryptocurrencies with features like anonymity and complete security. Its origination and destination are untraceable like fiat currencies neither individual coin has any ownership value. The advanced features like Ring Signature and stealth addresses are what make this coin unique. Ring signature technology hides the authentication keys, and any data related to transactions are not shared with anyone. Stealth address technology conceals the IP address of the origin and destination of the users.

Current Statistics-

Monero

  • Monero (XMR) is the 12th largest crypto coin in the global crypto market.
  • The ROI (Return on Investment) of Monero stands at 2366.34 %.
  • The total coins in supply stand at 16,950,722 XMR.
  • The current market cap as on 30th April at 02:34 is 1,036,830,121 USD.
  • The value of each coin is 61.17 USD and 0.01165830 BTC.
  • The 24 h volume at the same UTC stands at 44,137,644 USD.

Comparison-

The biggest culprit for Monero’s (XMR) declining market share is the uncertainty of the value. Monero has shown almost 12 instances of sudden growth and sudden fall in the last 4 months. This pattern has made potential investors stay away from this coin. The highest point was achieved due to April 1st boom on April 4th at 71 USD. From that growth, the coin showed consistency for a week to fall again. As of now, the coin is on a declining path. The market cap on 30th March was 901,725,314 USD. And the value of each coin was 53.40 USD and 0.01303213 BTC. The current market cap and the value in USD have increased by almost 15 % in these 30 days.

Prediction-

Monero coin has been subject to many variations on the pricing. It started the year 2019 at 45 USD price. And in these 120 days, the coin has gained over 20 USD of its value. But there are more than 10 instances of sudden rise and fall. As the current trend of this coin is falling, we predict the coin to rise soon. The resistance value is at 70 USD. By the end of 2019, the value should be reaching 100 USD. And the 2020 prediction targets a range above 200 USD.

Conclusion-

We advise the short term investors to wait for at least a week to buy Monero. Keeping the investment until the next quarter will give handsome profits. The medium-term and long term outlook is bullish. It will give them somewhere near 3 times the current investment.