Monero Price Analysis: XMR/USD Breaks Away From Other Cryptos
At the moment of writing this article, the crypto market looks better today. Most of the coins are trading in the green, and Monero is no exception.
XMR is priced at $56.99, and the coin seems to have found support above $55 for a few days now.
Monero shows a bullish move
A couple of days ago, as it’s already been reported, XMR showed a bullish move, and the coin was able to gain more than 1% during the past Sunday.
Despite the high volatility of the crypto market, the optimistic crypto-related predictions are still popping up in the crypto space.
A lot of experts have said that we should expect Bitcoin to fall even more, but other predictions are more optimistic and claim that BTC can even hit $70k soon.
Regarding Monero, the coin has definitely been able to gain interest from investors during 2019 despite the volatile prices in the market and this may be mostly due to the privacy features that this coin flaunts.
Monero’s Riccardo Spagni has addressed the importance of privacy in the crypto space and beyond a lot of times and it seems that more and more crypto enthusiasts understood that XMR is a viable investment choice these days.
Monero in the news
Monero has been making headlines pretty often lately.
For instance, researchers at Unit 42, which is a Palo Alto Networks threat intelligence team has discovered the very first cryptojacking malware that has been found on popular platform Docker and this was mining XMR. The worm has been eliminated.
Other than this, Monero has revealed the introduction of the new POW algorithm that will be keeping ASIC mining at bay.
And, in other news, Crypto Stashed online company that has the primary purpose of instructing others on the functionality and utility of cryptos, discussed Monero.
They have recently published a new blog entry and discussed the best GPUs that can be used to mine the Monero
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.