Monero is a controversial name in the world of cryptocurrencies. While the currency has a strong protocol that powers the privacy of the coin, this privacy is also the reason why Monero is controversial. The currency has been involved in a number of fraudulent transactions and illegal deals such as Cryptojacking, Ransomware and illegal trade on the darknet. Let us take a look at how the XMR price is performing - and where it is potentially headed.
(XMR) Monero Price Over The Past 24 Hours
The last 24 hours have been a very anxious time for Monero holders. The currency has been on a collapse and has fallen by 12% over the past 24 hours. Monero started off the day at a price of $294 - its highest point of the day and continued to fall as it ended the day at $258. However, the lowest point of the day came when Monero price hit $248. Monero started off the day with a market cap of $4.65 Billion and ended the day at $4 Billion - a loss of $650 Million in a single day.
(XMR) Monero Price Over The Past Week
Over the past week, Monero price went from $340 to the highest point of $377, from where it collapsed to $248 - but recovered slightly to close the day at $258. Over the week, Monero lost a market cap of $1.3 Billion as it fell from $5.3 Billion to $4 Billion.
(XMR) Monero Price Expectations
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Expected movement of Monero price | Image; Tradingview[/caption]
While this week may have been somewhat disappointing for Monero investors, the coming weeks are likely to be a good time - as a major bull run is on its heels. The currency is expected to finally break past the lines of resistance and breach all barriers as it races back to $300+ levels.
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: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions - which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.