Monero Price Analysis: XMR Is Heading Towards $60
After some bloody days in the crypto market, which had the most important digital assets trading in the red, today, things are looking better.
The most important digital asset is trading in the green at the moment of writing this article, and Bitcoin (BTC) even managed to surpass the $8,500 mark.
Monero (XMR) is also trading in the green, and the privacy-oriented coin is currently trading at $57.12.
Monero seems to have found support above $55, and the coin is heading towards the $60 mark.
Just the other day, Monero was also struggling above the $55 mark, as we reported in a previous article.
XMR could hit $75 before the end of the month
During the past month or a bit more than that, the highest value that XMR has been able to record has been $82 and it was believed that if the trend got better, the coin is expected to hit that value all over again.
CryptoNewsz online publication revealed that such a thing would be possible if the privacy-oriented coin can move past $70 in the near future and rise to $75 before the end of October.
Despite the recent crypto market crash, there have been a lot of optimistic predictions popping up in the crypto space regarding Bitcoin and Monero, as well.
The privacy coin has been gaining more and more interest from crypto enthusiasts these days, primarily due to the coin’s robust privacy features.
Crypto fans found that XMR is a viable investment for the future.
Monero is preparing for the upcoming hard fork
In other news, Monero will be updating the network on November 30.
More than that, they reportedly have also set a tentative schedule for code freeze and the release of vo.15, according to the latest reports from a blog post released by the Monero Developer Community.
It’s also worth noting that about two weeks ago, Monero’s RandomX went live on the public testnet.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.