Monero Price Analysis: XMR Struggles Above $55
The crypto market is still under the sign of a correction with most digital assets trading in the red at the moment of writing this article.
XMR remains above $55
The privacy-oriented coin is trading in the red as well, and XMR is priced at $55.87, down by 1.10%.
Despite the recent fall of BTC, which triggered a drop in price for all important digital assets, the optimistic predictions about the price of cryptos, including Bitcoin, continue to appear in the crypto space.
Regarding Monero, During the past 30 days, the highest value that Monero 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 and we reported it just the other day 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.
Monero popularity is on the rise
In other news, the popularity of the privacy-oriented coin XMR is on the rise.
The project is gathering more interest from crypto enthusiasts because people have understood the importance of privacy these days in the crypto space.
Not too long ago, Monero’s Riccardo Spagni also addressed the vital benefits that such privacy features have to offer in the cryptosphere and not only.
Other than this, 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 coming from the online publication UseTheBitcoin which cited data from a blog post released by the Monero Developer Community.
The news involving the hardfork was released in order to prepare users, pool operators, merchants, and exchanges before the important event takes place.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.