Monero Price Analysis: Monero (XMR) Price Has Again Started Moving Up Amid Intense Volatility

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The intense volatility in the crypto market sphere is slashing down the prices of the altcoin like Monero. Even if coin brings any new impactful project, its rate of success is minimum as the crypto market sphere is highly unfavorable. Stability of XMR coin is definitely not guaranteed in this highly volatile market conditions.

Current Statistics of Monero:

  • Price in USD: 85.240 USD
  • Price in BTC: 0.00820921 BTC
  • Circulating supply: 17,162,358 XMR
  • Market Cap: 1,463,519,585 USD
  • 30 Day High / Low: 97.61 USD / 74.60 USD

XMR/USD Comparison and future forecast:

Monero Price Prediction
Monero Price Chart by TradingView

From the above 5-day XMR price chart, it is understandable that it has a high propensity to decline down at any time. From the evening of 14th August till yesterday evening, it has traded continuously with the bearish nature. On 13th August, it had a trading value of 90.365 USD but yesterday XMR price declined down to as low as 81.847 USD. So, the shift in the prices within these 5 days has been great. Its momentum is unstable and prone to decline down at any time. Within the past five days, Monero price has increased by 6%, but its retention in the bullish trend is doubtful. Based on the past data and analysis, it is anticipated that, in the upcoming days, Monero can have a value of $90.17.

Conclusion:

Monero is a potential cryptocurrency, but due to unfavorable market conditions, it is succumbed to lose down at any moment and that even to a significant extent. Therefore, the investors should not consider investing in it as of now and must wait for the right time until the market condition improves.

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