The Monero (XMR coin) price has recently shown significant fluctuations like any other cryptocurrency. The crypto’s future looks bright, making it a relatively reliable addition to investors’ crypto portfolios with a good Monero price target.
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Due to these price movements, Monero is the 24th coin of all cryptocurrencies in terms of value on Coinmarketcap at the time of writing. In this article, we’ll take a look at Monero’s future price predictions, covering the basics of the project and ending with Monero’s future price predictions from experts. Want to bet on the high price expectations of Monero? Why is Monero going up, and is Monero a good investment? Read on to find out our Monero price prediction!
What Is Monero?
The digital currency Monero (XMR) has been around since 2014 and has seen a lot in terms of price in recent years. But what is it that makes Monero so special and distinguishes itself from the other larger and more famous cryptocurrencies like Bitcoin, Ethereum, and Ripple?
How is it that the price of the Monero shows these beautiful upward lines recently, despite the decline in 2018? Monero is also referred to as the sleeping crypto giant – and understandably so. In the information below, we explain why this crypto coin is interesting and why it is important to keep a close eye on the Monero price.
Monero is the leading cryptocurrency with an emphasis on privacy and censorship-resistant transactions. Most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, meaning that transactions are openly verifiable and traceable to anyone in the world. In addition, sending and receiving addresses for these transactions can potentially be linked to a person’s real identity.
We have listed a number of important features that make the Monero future so interesting and distinguish it from the other cryptocurrencies:
- Transactions with Monero are confidential and not traceable.
- The Monero project is 100% decentralized.
- Monero has a team of more than 240 experienced developers behind it.
- Monero is scalable because it has no fixed size for a block.
- Monero transactions are confidential and non-traceable.
- By default, every Monero transaction hides the send and receive addresses and the amounts processed.
This always-on privacy measure means that any Monero user activity enhances other users’ privacy, as opposed to selectively transparent cryptocurrencies (e.g., Z-Cash). Monero is fungible.
This means that Monero is always accepted without the risk of censorship. The Kovri project will track and encrypt transactions through I2P Invisible Internet Project nodes. This obscures the IP address of a transaction and provides further protection against network surveillance.
Monero is a grassroots community that attracts the world’s best cryptocurrency researchers and tech talent. More than 240 developers contributed to the Monero project, including 30 core developers. Forums and chat channels are welcoming and active.
Monero’s Research Lab, Core Development Team, and community developers are constantly pushing the boundaries of what’s possible with cryptocurrency privacy and security.
Monero is not a company. It was developed by cryptography and distributed systems experts from around the world who donate their time or are funded through community donations. This means that Monero cannot be closed by any country and is not limited by any particular legal jurisdiction.
Monero in the Past and the History of XMR
Monero has been around for a while. 2021 will be a good year for Monero. In 2020, the price increased considerably compared to the year before, but this year seems to be an even better year due to all the new developments. Read on about the latest Monero news and expectations. A lot has happened in the meantime. It is quite clear that Monero has a bright future, but first, we’ll take a look at what happened with Monero before that.
May 2014 – The Start of Monero
On May 21, 2014, Monero was launched on the crypto exchanges. The value was set at $2.47 under the first name of BitMonero. This is a combination of the word ” money ” in Esperanto and Bit from Bitcoin. The coin flopped completely. Fans from the crypto community decided to take over the project and launched Monero with the current name.
Early 2015 – Historical Low
The initial appreciation turned out to be way too high. The price dropped to $0.2130 on January 14, 2015 (Coinmarketcap), which was a historic low for the currency.
Late 2016 – Sudden Revival
At the end of 2016, things suddenly went underway. The currency shot to 13.60 dollars. This was the highest valuation of the coin at the time.
2017 – Growth Continues
2017 was a fantastic year for Monero. The growth continued and suddenly reached a rate of around 130 dollars halfway through the year.
2017/2018 – Monero Goes Through the Ceiling
All virtual coins exploded, and so did Monero. The coin reached its historical peak of no less than $495.84 (Coinmarketcap, January 7, 2018).
End of 2018 – Back to Square One
Monero, like many other cryptos, dropped all the way back to the value of 1.5 years before. With such a rate, many investors lost some of their confidence in the coin.
2020 – Monero Race: Back on Track
The rate of Monero is back on the rise. After closing 2019 with a meaningless change, the coin now seems unstoppable. Because it is now one of the older coins, with a good reputation in terms of privacy, the popularity of the coin is increasing enormously. This can be seen in the price.
Monero to US dollar current price rate
Factors that affect Monero’s rate
The XMR price is mainly dependent on market demand. The rising demand and popularity of the coin can serve as drivers of the XMR’s growth. Inversely, administrative barriers, additional regulation, and a decline in popularity can lead to a potential drop in the cryptocurrency rate.
Monero Price Predictions by Experts
Let us reflect on the Monero (XMR) price prediction from major distinct sources, which will give us a fairer idea:
Trading beasts predicted that Monero could reach around $150 ( they almost got it right!) by the end of 2020, which means that it could roughly reach about $400 by the end of 2021.
Crypto ground is a cryptocurrency prediction website that also stated that Monero might be worth $150 at the beginning of 2021. In 5 years, the XMR coin has a good possibility that it might reach $496.82 and might even go over the $500 mark if the market is calm enough.
There is a downturn Monero trend predicted and XMR token may lose sheen by almost half of its current price – stooping to as low as $100.14 by the first quarter of 2021.
Monero Technical Analysis
We’re starting our technical analysis of XMR/USD quotes with the one-month time frame. First, we’ll identify a global trend and key levels.
There’s an accelerating bullish trend, observed since March 2019. The pair has been growing intensely on low volumes in the past three months, so I would carefully suggest an upcoming downside reversal. Our further Monero forecast will show if the projected fall will be a correction or a fully developed downward reversal.
The blue dots on the Monero-USD price chart mark the candlesticks whose extremum values form support (red lines) and resistance (green lines) levels.
The all-time peak in Monero’s price history formed a resistance level at 474.64 in December 2017. It indicates that the current trend hasn’t exhausted its growth potential yet.
The next level formed at the red candlestick’s minimum of 38.73 USD in December 2018. The price tested it twice in the following months but couldn’t consolidate below. It will hardly manage to break that level in the near time. Another support level of 120.97 USD formed at the volume maximum in June 2019.
Monero price prediction for next three months
To have an idea of Monero future value, let’s do a technical analysis of the weekly time frame.
To make a realistic Monero price forecast, I marked with blue dotted lines a short-term trend channel that formed with the bullish movement intensification. Another two key levels will be of use here too: 379.01 US dollars, formed in March 2018, and 297.75 USD, formed in April 2018.
The likeliest outlook is that intense growth will change into a corrective phase. Several signals point at that simultaneously:
The market has been growing on low volumes in the past weeks.
The MACD indicator went to the overbought area and will reach the resistance level soon (the green line). It has been pulling back repeatedly from that level since summer 2019.
The price is approaching the channel’s upper limit fast.
A reversal will most probably occur at the psychologically important level of 400 USD. The initial target will be the support level at 297.75.
A scenario where the price chart will be tending to the main trend line in the area of 160–200 USD is the most realistic one. It will be activated once the price consolidates below the short-term line and the 297.75 level.
In an alternative scenario where the bullish movement continues, Monero’s prediction chart will consolidate above 400. The level of 474.64 US dollars will be a price target in that scenario.
What will be the price of Monero in 2021?
To make Monero‘s price prediction for this year, I’ve added the projection of the price’s projected movement plotted according to Bollinger bands’ width. The projected value will go from 150 to 400 US dollars this year. At the same time, don’t expect that the main trend line and the level of 379.01 will be reached in the long term.
Technical analysis indicates that the price may be expected to correct to the main trend line before autumn. So, up to then, the price target will range from 170 to 180 USD. Then, the price may pull back and start moving to 474.64 in a bullish trend.
The expected Monero trading range for each month is presented in the table below.
Our blog provides daily short-term cryptocurrency forecasts and trading signals based on technical analyses and margin zones.
Monero Price Prediction: 2022 – 2023
- XMR to USD predictions for January 2022: In the beginning, the price will be 410 Dollars. The maximum price is $509, and the minimum price is $410. The average for the month is $451. The Monero forecast at the end of the month is $476, which is a change for January of 16.1%.
- Monero price prediction for December 2022: In the beginning, the price is predicted to be 259 Dollars. Its maximum price is $315, and the minimum price is $259. The average for the month is $282. The Monero price forecast at the end of the month has a rate of $294, which is a change for December of 13.5%.
- XMR to USD predictions for January 2023: In the beginning, the price is forecasted at 294 Dollars. There is a maximum price of $365 and a minimum price of $294. The average for the month is $324. Monero’s price forecast at the end of the month is $341, which is an estimated growth for January of 16.0%.
- Monero price prediction for December 2023: The month will open at a price of 142 Dollars. The maximum price is $177, while the minimum price is $142. The average for the month is predicted to be $157. Monero’s price forecast at the end of the month is $165, which is a change for December of 16.2%.
The abovementioned predictions are taken from Longforecast.com.
Long-Term Monero Price Forecast 2025-2030
Many different predictions have been made for the Monero price. How high can Monero go? How much will it go up in value? In particular, the growing problems surrounding the privacy of internet users are a big plus for the project. Many people are starting to value their personal data more and more, and all financial data is, of course, also part of this. So, if you’re asking the question: “should I invest in Monero?” Keep reading.
With Monero, it is therefore very interesting to save your money since it is not accessible to everyone, even on the blockchain.
According to Coinswitch, this could also be the reason for a large price increase for the Monero future value. If we are to believe the predictions, which we should always take with a grain of salt, it would, in any case, be a good addition to your cryptocurrency portfolio for diversification.
The Monero projected growth for 2021 could be between $400 and $600 ($164.31), according to Coinswitch. If only a small percentage of people are actually going to “protect” their money using Monero, this should be easy to achieve.
The Monero projected value for 2025-2030 is even higher, at around $900. With many cryptocurrencies that are only partially anonymous, Monero knows how to distinguish itself using its XMR. Please note that such a long-term price prediction and Monero price forecast is very approximate and is merely speculation.
How Has the Price of XMR Changed Over Time?
Is Monero expected to rise? On Coinmarketcap, the Monero price today is $401.71. This value is interactive; you’ll be able to refer to this article to see the current price tomorrow.
Its all-time high was $495.84 on January 7, 2018 (Coinmarketcap). At the time of writing (February 9, 2021), Monero’s market cap was$2,845,886,790. But in order to make the most reliable and realistic cryptocurrency predictions, it’s important not just to look ahead at the projection but also to look back at the historical price performance of Monero. Below you can see the chart of how the price history of Monero changed over the years of its existence.
What Is the Future of Monero? Is XMR a Good Investment?
Many investors are concerned that they have entered too late. “With such a high rate, I will never make more profits.” However, this is not always the case. Let’s see if now is a good time to get into Monero. Monero has gained a big name in the crypto world in recent years. They are number 1 when it comes to the privacy and security of users. This added to the Monero growth and Monero supply.
This is a very interesting fact because privacy is becoming an increasingly important topic. More and more traders are starting to see the benefits of this coin, and the outlook is therefore also bright. Especially if you consider the historically highest price ever – it has not yet been reached again, and that proves that there is still a lot of growth in this crypto. Monero has a good price target, as it also moves strongly with Bitcoin.
About Bitcoin, experts say it will rise for a while. Some say itwill rise to $100,000 in the coming years. This means that Monero will rise also. Either way, here’s a Monero prediction chart for 2021:
Monero has proven itself over the years as a major player in the crypto market. It is still a very interesting cryptocurrency, despite the extreme gains in 2020. Monero- buy or sell: this is the real question. The price still has many growth opportunities.
Because the coin considers the privacy of its users of paramount importance, it has an advantage over other coins. This is what makes this coin special. Especially with the high supply of alternative currencies, this distinctive character is very important.
If you want to start trading Monero, do it with a reputable exchange/broker. The broker must at least have an internal wallet in which you must be able to store your coins. A good example of this is LiteForex. A great reason to create a free demo account on LiteForex! LiteForex has fact-checked information and a user-friendly platform for novices, as well as experienced traders.
Monero Price Prediction FAQ
Price chart of XMRUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.