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Monero Fundamental Analysis
Monero (XMR) is a native cryptocurrency of the Monero network — a project focused on enabling the most private and secure transactions in the crypto space. Monero was founded in 2014, as Bitcoin’s privacy shortcomings started coming to light.
Bitcoin, despite being conceived, in part, to pave the way to a more egalitarian financial system than the one that currently exists, has some problems concerning its fungibility. Imagine paying a merchant or a bank $1 — they wouldn’t care which bill exactly you take from your wallet, which means the dollar is a fungible asset. On the other hand, all Bitcoin transactions can be traced, which suddenly makes some Bitcoins more valuable than others — for example, less likely to be rejected by merchants due to shady transaction history you might have had no control over. Monero makes crypto private by obscuring this history through a unique system of ring signatures (the real cryptographic signature is hidden in a group of decoys), ring confidential transactions (the way to obfuscate the amount of money sent), and stealth one-time addresses. As opposed to some other crypto privacy networks that make anonymity an option, Monero private transactions are mandatory. Monero network is secured using Proof-of-Work protocol, but with modifications that keep the miner network as decentralized as possible and prevent concentration of the mining resources in just a few hands.
Monero Live Price Chart
XMR joined the latest Bitcoin rally quite early, its price rising throughout most of 2020, by December gaining ~300% (almost up to $160) since the spring. Monero started 2021 on a continuing high note — despite a short dip to ~$135 in late January, the next peak was reached right in February, when Monero traded at around $262. XMR’s price seemed to correct after that, however, soon it resumed its bull run, hitting an all-time high in May 2021, when Monero was briefly trading at $517.62. In mid-May XMR’s price crashed, as did most of the crypto market. The crash wasn’t as cruel to XMR as to some other cryptocurrencies — while the fall was substantial, the lowest the price went was ~$179, which represents a new support level, higher than ever before. In the second half of July 2021 crypto market may have gotten a second wind, as the prices started climbing up. Monero hasn’t avoided those movements, trading higher than $240 by the end of July. However, as with the whole market, it’s too early to make any substantiated conclusions.
Monero Technical Analysis
Monero has been trading in a descending triangle pattern since its peak and subsequent crash in mid-May, as the support line held while the intraday highs became lower and volatility decreased. This went on until approximately July 25, when the price started to break out of the triangle in a textbook move at a pretty steep angle, bouncing off of ~$180 level and reaching ~$248 in less than a week. This seems like a pretty strong sign of a Monero price trend reversal, so it should be watched closely.
Monero Price Prediction
#1. WalletInvestor XMR Price Prediction for 2021, 2023, 2025
#2. TradingBeasts XMR Price Prediction for 2022
#3. DigitalCoin XMR Price Forecast for 2021, 2022, 2023, 2025
#4. LongForecast XMR Price prediction for 2021-2022
As it can be clear from the analysis cited above, Monero's (XMR) projections are rather contradictory. There is no universal consensus either about positive or negative future XMR price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Monero projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Is Monero a good investment?
Most sources agree that Monero is a good investment, as Monero price predictions usually forecast growth towards $350–$450 by 2022, potentially growing even further. Note that there are also sources that disagree, as the crypto market can be irrational and often unpredictable, including Monero’s future price.
Is Monero better than Bitcoin?
Yes, Monero is better than Bitcoin in some aspects — as a privacy coin, XMR is virtually untraceable, which makes it the cryptocurrency of choice for those who value their anonymity. Monero is also cheaper to use and to mine. However, Bitcoin is faster and more widespread — i.e. more acceptable for many merchants and businesses.
What is Monero worth?
Throughout 2021, Monero has been worth ~$135–$515. Those prices allow Monero to rank pretty high in the coin ratings by market cap, usually in top-30. Monero price predictions for 2025, for example, mostly indicate that its price may keep growing, so stay tuned to keep track of the changes in XMR value.
What will Monero be worth in 2030?
Monero’s worth in 2030 is subject to change as the market is so volatile; however, some Monero price predictions promise that it will break the $1000 barrier by the mid-‘20s and will continue to rise, so XMR’s future might be very bright.
Does Monero have a future?
Yes, Monero has a future, according to most analytical sources. Its tech and fundamentals are quite solid, so even those experts whose Monero future price predictions don’t promise fast growth still agree that Monero will be around for quite some time.
Is Monero harder to trace than Bitcoin?
Yes, Monero is much harder to trace than Bitcoin, since it’s geared specifically to be a privacy coin. Monero is consistently ranked among the most private cryptocurrencies, often taking the #1 spot.
Is Monero illegal?
No, Monero is as legal as any other cryptocurrency, despite being anonymous and providing better protection of holders’, senders’, and receivers’ identities than most other coins.
Will Monero pass Bitcoin?
Probably not, as it’s hard to imagine any cryptocurrency surpassing Bitcoin. Although, this is the crypto world, where everything is possible.
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