Monero (XMR) Takes More Dips Losing Its Recent Gains 

The price of Monero (XMR) is taking dips against the USD and against Bitcoin. The gains it got during the recent high are slowly being washed away by the bears. The bears have met the bulls at a crucial juncture waiting for a breakout or a breakdown. If the bulls are able to overcome the bears, Monero might attempt reaching its recent high again. Otherwise, if the bears succeed, the price will reach lower lows before the weekend is over.

Monero (XMR) Price Today – XMR / USD

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The Monero (XMR) to USD trading pair has a rise by 2% trading at $113.25 earlier this morning. The price broke out towards the end of August rallying from the point of the breakout but far from the $149 confirmation point. This confirmation point acted as a lower high earlier. The details on the 120-minute chart show that the price of Monero (XMR) is a few points away from a significant ascending trendline. If it breaks this support, the price will fall below the $100 level. This is according to the price analysis on FXStreet.

Monero (XMR) Price Analysis Now

At the time of writing, Monero (XMR) was trading at $114.47. This indicates a 1.62% rise against the USD and a 0.40% against Bitcoin. The trading volume over a 24-hour period is $27,228,021 while the market capitalization is $1,876,004,156. The next few days of trading will determine if the price action of Monero will change or if the trade will continue in green.

Main while, Monero is gradually become as popular as Bitcoin. The fact that it is the most privacy centric network in the cryptocurrency industry makes it the number one choice for a lot of people. Although it’s includes a long list of cyber criminals, the point is that Monero is going to become the next big thing soon. While long term prediction isn’t always accurate in the industry, a lot can change in the coming years.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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