Monero (XMR) Price Prediction — Will XMR Hit $350 Soon?

Monero Price Prediction — Will XMR Hit $300 Soon?
  • Bullish XMR price prediction is $166.7 to $314.8.
  • Monero (XMR) price might also reach $350 soon.
  • Bearish XMR  price prediction for 2022 is $104.0.

In Monero (XMR) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about XMR to analyze the future movement of the cryptocurrency. 

Monero (XMR) Current Market Status

According to CoinGecko, the price of Monero (XMR) is $153.98 with a 24-hour trading volume of $124,950,664 at the time of writing. However, XMR has increased by nearly 1.6% in the last 24 hours.

Moreover, Monero (XMR) has a circulating supply of 18,147,820 XMR. Currently, Monero (XMR) trades in cryptocurrency exchanges such as Binance, DigiFinex, OKX, WhiteBIT, FMFW.io.

What is Monero (XMR)?

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 (XMR) Price Prediction 2022

Monero holds the 30th position on CoinGecko right now. XMR price prediction 2022 is explained below with a daily time frame.

XMR/USDT Ascending channel Pattern (Source: Tradingview)

The above chart of Monero (XMR) laid out an ascending channel pattern, also known as the rising channel. The upper and lower trend lines that connect the higher highs and higher lows respectively appear to move within a rising slope. This pattern is generally a characteristic of a bullish trend.

Currently, Monero (XMR) is in the range of $154.8. If the pattern continues, the price of XMR  might reach the resistance levels of $166.00 and $179.00 If the trend reverses, then the price of XMR may fall to $155.00 and $137.70.

Monero (XMR) Support and Resistance Level

The below chart shows the support and resistance level of XMR.

XMR/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of Monero (XMR).

Resistance Level 1$166.7
Resistance Level 2$209.5
Resistance Level 3$254.2
Resistance Level 4$314.8
Support Level 1$139.2
Support Level 2$104.0
XMR Resistance & Support Level

The charts show that Monero (XMR)  has performed a bullish trend over the past month. If this trend continues, XMR might run along with the bulls overtaking its resistance level at $314.8.

Accordingly, if the investors turn against the crypto, the price of Monero (XMR)  might plummet to almost $104.0, a bearish signal.

Monero (XMR) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Monero (XMR) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of XMR lies below the cutoff line, indicating weak participants in the current trend.

XMR/USDT RVOL, MA, RSI (Source: TradingView)

Also, the Moving Average (MA) of Monero (XMR) is shown in the chart above. Notably,  Monero (XMR) price lies above 50 MA (short-term), so it is completely in an uptrend. Currently, XMR has entered a bullish state. Therefore, there is a possibility of a reversal trend of XMR at any time.

Meanwhile, the relative strength index (RSI) of the XMR is 59.83. This means that Monero (XMR) is in an overbought state. However, this means a major price reversal of XMR may occur in the upcoming days. So, traders need to trade carefully. 

Monero (XMR) Price Prediction 2022 — ADX, RVI

Let us now look at Monero’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

XMR/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Monero (XMR). Currently, the ADX of XMR lies in the range of 20.0 and thus, it indicates a weak  trend. 

The above chart also represents the Relative Volatility Index (RVI) of Monero (XMR). RVI measures the constant deviation of price changes over a period of time. The RVI of XMR lies below 50, indicating low volatility. In fact, the RSI of Monero (XMR) is at 59.83 thus confirming a potential sell signal.

Comparison of XMR with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Monero (XMR).

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 BTC and ETH . This indicates that when  the price of  BTC and ETH  increases or decreases, the price of XMR also increases or decreases respectively.

Monero (XMR) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Monero (XMR) might probably attain $400 by 2023.

Monero (XMR) Price Prediction 2024

With several upgrades in the network, Monero (XMR) might enter a bullish trajectory. If the coin grabs the attention of major investors, XMR might rally to hit $450 by 2024. 

Monero (XMR) Price Prediction 2025

If Monero (XMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, XMR would rally to hit $500.  

Monero (XMR) Price Prediction 2026

If Monero (XMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, XMR would rally to hit $550. 

Monero (XMR) Price Prediction 2027

If Monero (XMR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, XMR would rally to hit $600. 

Monero (XMR) Price Prediction 2028

If Monero (XMR) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, XMR would hit $650. in 2028.

Monero (XMR) Price Prediction 2029

If investors flock in and continue to place their bets on Monero (XMR), it would witness major spikes. XMR might hit $700 by 2029.

Monero (XMR) Price Prediction 2030

With greater advancements in the Monero Ecosystem, the crypto community might continue to invest in XMR for the next 8 years and drive significant price rallies for the token. Hence, Monero (XMR) might hit $750. by 2030.

Conclusion

With continuous improvements in the Monero network, we can say that 2022 is a good year for XMR. For this reason, the bullish price prediction of Monero (XMR) in 2022 is $314.8. On the other hand,  the bearish price prediction of Monero (XMR) price prediction for 2022 is $104.0.

Furthermore, with the advancements and upgrades to the Monero ecosystem, the performance of XMR would help to reach above its current all-time high (ATH) of $542.33 very soon. But, it might also reach $350if the investors believe that XMR is a good investment in 2022.

FAQ

What is a Monero (XMR)?

Monero is a privacy-centric cryptocurrency based on the CryptoNote protocol, which is a secure, private and undetectable currency system.

Where can you purchase Monero (XMR)?

XMR has listed on many crypto exchanges which include  Binance, DigiFinex, OKX, WhiteBIT, FMFW.io. 

Will Monero (XMR) reach a new ATH soon?

With the ongoing developments and upgrades within the XMR platform, it has a high possibility of reaching its ATH soon.

What is the current all-time high (ATH) of Monero (XMR)?

On Jan 09, 2018, XMR reached its new all-time high (ATH) of $542.33.

Is Monero (XMR) a good investment in 2022?

Monero seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of XMR in the past few months, XMR is considered a good investment in 2022.

Can Monero (XMR) reach $350?

Monero (XMR) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Monero (XMR) will hit $350 soon.

What will be Monero (XMR) price by 2023?

Monero (XMR) price is expected to reach $400 by 2023.

What will be Monero (XMR) price by 2024?

Monero (XMR) price is expected to reach $450 by 2024.

What will be Monero (XMR) price by 2025?

Monero (XMR) price is expected to reach $500 by 2025.

What will be Monero (XMR) price by 2026?

Monero (XMR) price is expected to reach $550 by 2026.

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.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.