Monero (XMR) Price Prediction 2023-2030: Will XMR reach $200 Soon?

• Bullish XMR’s price prediction ranges from $217 to $230.
• XMR’s price might also reach $300 this 2023.
• XMR’s bearish market price prediction for 2023 is $129.

While many cryptocurrencies like Ethereum and Bitcoin are transparent, Monero aims to maintain the privacy of the transactions. Monero utilizes advanced cryptography technology to ensure that users’ transactions are confidential and untraceable. Monero also boasts that they allow “fast, inexpensive” payments worldwide. 

Based on the CryptoNote protocol, Monero, reportedly, was formed after a heated discussion observed in the Bitcointalk forum. Finally, the Monero Core team forked the project and ever since has maintained the security and privacy of users. However, the question still remains whether XMR’s features could still increase its demand over time. Moreover, What will XMR’s price be as time passes?

Before we take a look at XMR’s price analysis and forecast for the years 2023, 2024, 2025, up to 2050, let’s understand about Monero and the technology behind it.

Monero (XMR) Market Overview 

What is Monero (XMR)?

Monero is one of the cryptocurrencies focused on maintaining the anonymity of users various by utilizing advanced “privacy-enhancing” technology. One of the key features of Monero is that it ensures transactions are confidential and untraceable. Monero also points out that it is the only cryptocurrency that ensures the user’s identity is anonymous by default.

Moreover, Monero explained that they have utilized technologies such as Stealth Addresses, Ring Signatures, and Ring CT. Stealth addresses allow senders to create one-time addresses for every transaction. The Ring Signature is a type of digital signature. Meanwhile, Ring CT ensures that the transaction amounts are hidden in Monero. 

When it comes to the technical aspects, Monero also utilizes RandomX, an ASIC-resistant and CPU-friendly POW algorithm developed by its contributors. The team behind Monero also points out that to ensure the safety and incentive features the “emission is infinite.”  

Monero also mentions that due to their decentralized nature, users will be free from the controls of centralized authority such as legal jurisdiction, and safe from capital control. Furthermore, the team states that the Monero Project is at the forefront of cryptocurrency privacy and security. Even to this day, the Research Lab and the Development Team are constantly working on new, innovative technologies. 

Analyst View on Monero (XMR)

Observing the crypto Twitter space, one crypto analyst under the pseudonym of Crypto Rand, shared his viewpoints about which all tokens he would be willing to hold from various industries. Crypto Rand mentioned that XMR is one of the privacy coins the investor would hold for a long time. This could be an indication that among the various privacy altcoins, XMR is one of the altcoins that could continue to enter the bull market as time passes.

Changpeng Zhao, the CEO of Binance, explained that the largest crypto exchange usually lists good tokens on their exchange and looks at the project rather than the fees. Zhao also mentioned that coins such as XMR were listed with no fee, indicating that the privacy coin has a huge potential. 

Monero (XMR) Current Market Status

XMR is ranked in the 23 position based on its market capitalization, according to CoinMarketCap. The current circulating supply of the XMR network’s native token is 18,276,803 XMR, while its total supply is 18,276,730. 

Moreover, XMR is priced at $155.24, experiencing a 1.70% surge in seven days. With a market cap of $2,836,975,937, XMR also witnessed a 0.53% surge in 24 hours. Moreover, XMR is experiencing a fall in its demand as the trading volume, valued at $46,705,772, experienced a fall of 17.55%% in one day.

Some of the crypto exchanges for trading XMR are currently Binance, KuCoin, Kraken, CoinBase, OKX, and Gate.io. 

Now, let’s dive further and discuss the price analysis of XMR for 2023.

Monero (XMR) Price Analysis 2023

Will XMR’s demand continue to rise up as time passes? Moreover, would the changes in the digital asset industry and privacy coins affect XMR’s sentiment over time? Read more to find out about XMR’s 2023 price analysis.

Monero (XMR) Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. 

Looking at the charts, XMR is currently trading at the SMA region, as the bands are narrow. The narrow bands indicate low volatility in the market. Compared to the previous market sentiment, XMR is currently experiencing a low volatility ever since 2023. There is a high possibility that XMR could be trading in the low volatility market. However, if XMR experiences slight increase in its volatility, then, there is a high probability that XMR could experience a trend reversal.

Monero (XMR) Price Analysis – Relative Strength Index(RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered as the overbought region, and traders expect the price could fall soon.

The RSI is valued at 47.71, which is considered a weak trend by some traders as it is valued between 50 to 30. Moreover, the RSI movement shows signs of consolidation as it would keep rebounding near the SMA. The candlesticks also shows signs of sideways movement and it can expected it would experience a similar movement for few days before confirming its trend, which could be bullish or bearish.

Monero (XMR) Price Analysis – Moving Averages

Although, there was a golden cross formed in 2023, where the 50MA crossed above the 200MA, XMR still shows signs of consolidation. Since XMR seems to be trading between the gaps of the 200MA and the 50MA, there is still no confirmation regarding the privacy coins’ trend. Moreover, the gap between the 50MA and 200MA continues to reduce indicating that a trend reversal may happen any time. If the trend reversal happens, there is a high possibility that it would be a bearish one when the death cross is formed. However, currently, XMR still shows signs of consolidation.

Monero (XMR) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will simplify the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role as it can confirm the trends and identify potential reversals.

Looking at the charts, XMR is currently experiencing a slight bullish sentiment. The MACD line is above the signal line indicating that there is a bullish sentiment. Moreover, if the green bars continue to be formed then XMR could reach bullish sentiment. If the MACD line falls below the signal then XMR could dall into the bearish sentiment. 

Monero (XMR) Price Prediction 2023- 2030 Overview

Monero (XMR) Price Prediction 2023

The 1-day chart of XMR shows that the privacy coin is trading above the 200MA, indicating that it could experience bullish signal  in the long term. However, since it is trading close to the 200MA, there is a high possibility that a trend reversal could happen in the future. 

In the short term period, MACD indicator shows that XMR could witness a bullish sentiment. If if falls below the 200MA, there is a possibility that XMR could fall to the support region and stay for some time, eventually, climbing upwards to the Resistance region.

Although the trend has not been decided for XMR, our prediction continues to bullish for privacy as its features and utility could increase the interests for traders and users. The bullish price prediction for XMR is $217 – $230. Meanwhile, if XMR experiences an extremely bullish sentiment, then, the privacy coin could reach $300 in 2023. However, the bearish price prediction for XMR is $116 – $129.

Monero (XMR) Price Prediction – Resistance and Support

Currently, XMR is trading in between the Resistance 1 and Support. The Resistance 1 level which is between $198 – $206, acts as a critical zone for the privacy coin to experience a bullish sentiment. If there is an extreme bullish sentiment observed, XMR could reach the Resistance 3 area at $300. Meanwhile, the Resistance 6 of $519 could help XMR to reach all-time highs for the tokens.

Monero (XMR) Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. Alike altcoins, meme coins could also experience a massive surge this year. XMR could also be affected by Bitcoin halving and could trade beyond the price of $320 by the end of 2024.

Monero (XMR) Price Prediction 2025

XMR could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, XMR would continue to rise in 2025 forming new resistance levels. It is expected that XMR would trade beyond the $380 level.

Monero (XMR) Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, XMR could tumble into its support region of $410. Moreover, when XMR remains in the oversold region, there could be a price correction soon. XMR, by the end of 2026, could be trading beyond the $430 resistance level after experiencing the price correction.

Monero (XMR) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. XMR is expected to rise after its slumber in the bear season. Moreover, XMR could even break more resistance levels as it continues to recover from the bearish run. Therefore, XMR is expected to trade at $470 by the end of 2027.

Monero (XMR) Price Prediction 2028

Once again, the crypto community is looking forward to this year as there will be a Bitcoin halving. Alike many altcoins, XMR will continue to form new higher highs and is expected to move in an upward trajectory. Hence, XMR would be trading at $490 after experiencing a massive surge by the end of 2028. 

Monero (XMR) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, XMR could be trading at $520 by the end of 2029.

Monero (XMR) Price Prediction 2030

After witnessing a bullish run in the market, XMR and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, XMR could be trading at $540.

Monero (XMR) Price Prediction 2040

The long-term forecast for XMR indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, XMR may face a slight fall before starting its upward journey once again. It is expected that the price of XMR could reach $780 by 2040.

Monero (XMR) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, XMR could surpass the resistance level of $960.  

Conclusion

To summarize, if investors continue to show interest in XMR and add these tokens to their portfolio, then, it could continue to rise up as time passes. XMR’s bullish price prediction shows that it could pass beyond the $230 level. Moreover, XMR could surpass the $960 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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