- Bullish XMR price prediction for 2023 is $168.9 to $205.6.
- Monero (XMR) price might reach $250 soon.
- Bearish XMR price prediction for 2023 is $104.7.
In this Monero (XMR) price prediction 2023, 2024-2030, we will analyze the price patterns of XMR by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
MONERO (XMR) PRICE PREDICTION 2023 |
|
| MONERO (XMR) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Monero (XMR) Current Market Status
| Current Price | $144.31 |
| 24 – Hour Trading Volume | $94,385,004 |
| Market Cap | $2,645,121,863 |
| Circulating Supply | 18,325,836 XMR |
[TD]24 – Hour Price Change[/TD]
[TD]0.83% Up[/TD]
[TD]All – Time High[/TD]
[TD]$517.62 (On May 08, 2021) [/TD]
[TD]All – Time Low[/TD]
[TD]$0.213 (On jan 15, 2015) [/TD]
[/TR]
XMR Current Market Status (Source: CoinMarketCap)
What is Monero (XMR)
| TICKER | XMR |
| BLOCKCHAIN | Monero blockchain |
| CATEGORY | Public blockchain platform |
| LAUNCHED ON | April 2014 |
| UTILITIES | Governance, Fast Transactions, gas fees & rewards |
Monero cryptocurrency (XMR) was established in 2014, which is open-source and focuses on privacy. Its blockchain is opaque, which makes transaction details and amounts anonymous by masking the addresses used by participants.
Investors can mine Monero using their own CPUs, which means they don’t need to pay for special hardware. The mining process for Monero is based on an egalitarian concept where all are equal and deserve equal opportunities.
Monero 24H Technicals
(Source: TradingView)
Monero (XMR) Price Prediction 2023
Monero (XMR) ranks 25th on CoinMarketCap in terms of its market capitalization. The overview of the Monero price prediction for 2023 is explained below with a daily time frame.
XMR/USDT Ascending Triangle Pattern (Source: TradingView)
In the above chart, Monero (XMR) laid out an Ascending Triangle. The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and the lower trendline that connects the rising lows.
If the trend breakout at the resistance level, the price will continue to move up in this ascending triangle pattern.
At the time of analysis, the price of Monero (XMR) was recorded at $144.31. If the pattern trend continues, then the price of XMR might reach the resistance levels of $173.3 and $283.3. If the trend reverses, then the price of XMR may fall to the support of $131.1, and $107.5.
Monero (XMR) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Monero (XMR) in 2023.
XMR/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Monero (XMR) for 2023.
| Resistance Level 1 | $168.9 |
| Resistance Level 2 | $205.6 |
| Support Level 1 | $133.5 |
| Support Level 2 | $104.7 |
XMR Resistance & Support Levels
Monero (XMR) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (XMR) are shown in the chart below.
XMR/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Monero (XMR) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $155.9Price = $143.1 (50MA>Price) | Bearish/Downtrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 40.56 <30 = Oversold 50-70 = Neutral>70 = Overbought | Nearly Oversold |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Monero (XMR) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Monero (XMR) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
XMR/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Monero (XMR).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 44 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 52.62 <50 = Low >50 = High | High volatility |
Comparison of XMR with BTC, ETH
Let us now compare the price movements of Monero (XMR) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs XMR Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of XMR is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of XMR also increases or decreases respectively.
Monero (XMR) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Monero (XMR) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Monero (XMR) Price Prediction 2024 | $252 | $108 |
| Monero (XMR) Price Prediction 2025 | $264 | $110 |
| Monero (XMR) Price Prediction 2026 | $276 | $115 |
| Monero (XMR) Price Prediction 2027 | $288 | $119 |
| Monero (XMR) Price Prediction 2028 | $290 | $123 |
| Monero (XMR) Price Prediction 2029 | $302 | $125 |
| Monero (XMR) Price Prediction 2030 | $314 | $129 |
Conclusion
If Monero (XMR) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Monero (XMR) price prediction for 2023 is $205.6. Comparatively, if unfavorable sentiment is triggered, the bearish Monero (XMR) price prediction for 2023 is $104.7.
If the market momentum and investors’ sentiment positively elevate, then Monero (XMR) might hit $250. Furthermore, with future upgrades and advancements in the Monero ecosystem, XMR might surpass its current all-time high (ATH) of $517.62. and mark its new ATH.
FAQ
1. What is Monero (XMR)?
Monero is a privacy-centric cryptocurrency based on the CryptoNote protocol, which is a secure, private and undetectable currency system.
2. Where can you buy Monero (XMR)?
Traders can trade Monero (XMR) on the following cryptocurrency exchanges such as Binance, OKX, Deepcoin, Bybit, and Bitrue.
3. Will Monero (XMR) record a new ATH soon?
With the ongoing developments and upgrades within the Monero platform, Monero (XMR) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Monero (XMR)?
Monero (XMR) hit its current all-time high (ATH) of $517.62 on May 08, 2021.
5. What is the lowest price of Monero (XMR)?
According to CoinMarketCap, XMR hit its all-time low (ATL) of $0.213 On Jan 15, 2015.
6. Will Monero (XMR) hit $250?
If Monero (XMR) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $250 soon.
7. What will be the Monero (XMR) price by 2024?
Monero (XMR) price might reach $252 by 2024.
8. What will be the Monero (XMR) price by 2025?
Monero (XMR) price might reach $264 by 2025.
9. What will be the Monero (XMR) price by 2026?
Monero (XMR) price might reach $276 by 2026.
10. What will be the Monero (XMR) price by 2027?
Monero (XMR) price might reach $288 by 2027.
Top Crypto Predictions
Polkadot (DOT) Price Prediction 2023, 2024, 2025-2030
Ethereum (ETH) Price Prediction 2023, 2024, 2025-2030
Binance Coin (BNB) Price Prediction 2023, 2024, 2025-2030
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.