Cryptocurrency Price Prediction

Monero (XMR) Price Prediction: Will The Price Surge To $600 This 2022?

Written by: Elena R

Written by right arrow

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

  • author twitter

Apr 12, 2022

news-image

  Most cryptocurrencies use peer-to-peer technology as a means of payment. But one such cryptocurrency which is widely known and is popular amongst users mainly for its privacy-oriented features is Monero. It is built on one of the most unique blockchains that make the transaction details anonymous. By disguising the address used by participants.

Moreover, unlike Bitcoin, mining Monero does not require any additional high-end hardware. And can be done on traditional computing devices. But what can we expect from Monero in the future? Will the Monero price surge or plunge in 5 years? Worry not, as we bring to you the price forecast of XMR for 2022 and the years to come!

Overview

CryptocurrencyMonero
TokenXMR
Price$ 174.1000
Market cap$ 3,163,796,657.0000
Circulating supply 18,123,832.3839
Trading Volume $ 217,861,367.0000
All time high$ 542.3300 Jan 9, 2018
All time low$ 0.2162 Jan 14, 2015

Monero (XMR) Price Prediction 2022

Potential LowAverage PricePotential High
$412.44$478.33$562.02

 Monero price had initiated the year with a price tag of $250.29, which was its local top of the week. The price of Monero could not pick up steam from its resistance. Which led to the altcoin taking a 28% fall to $178.96 by the 10th of January. The dip was short-lived as XMR posed a 32.99% leg-up to $239.07 in just 4-days.

However, the altcoin took another plunge, this time to its bottoms at $136.48, which was seen on the 24th of January. After moving sideways until the 4th of February, the price shot up to $186.17 by the 9th of February. Monero’s price slipped down to its quarterly bottom at $132.47 on the 24th of February. 

Following the tensity around the geopolitical tussle between Ukraine and Russia, and anxiety about FED’s rate hike. The price is seen scripting an inclining uptrend, which led to the altcoin’s quarterly closure at $212.62.

Monero’s (XMR) Price Prediction For Q2

 The digital asset on the 12th of April is seen trading closer to its resistance levels at $244.15. Seeking bullish impetus over the week, the price could claim the levels at $295.18. An increase in trade volumes comes from the network’s security and privacy. Could push the price to its quarterly high of $338.79.

Whilst a balance in buying and selling pressures could settle the price at $309.98. A fall in volumes and negative sentiments could curb the price at $237.47.

XMR’s Forecast For Q3

Continuing its bullish pace from the previous quarter, the price of XMR could claim the milestone of $392.86. With notable collaborations, adoptions, and a growing user base, the price could propel to its maximum of $442.72.  On the downside, a possible dump in the market, and negative criticism could clutch the price down to $316.29. That said, we can expect an average trading price of $383.95

XMR Prediction For Q4 

 The fourth quarter remains crucial for Monero, as it could potentially create a new ATH. With growing concerns about privacy and security amongst investors. The network would host newer investors, which could help it establish a new ATH of $562.02

Conversely, the bears out-weighing the bulls could suppress the price to $412.44. Factoring in the maximum and minimum price targets, the average price could fall to $478.33.

Monero Price Prediction For 2023

Monero could find some stiff competition amongst rivals and emerging protocols in the industry. Which could limit the price to its potential low of $552.34. On a positive note, with growing prominence and developments, the price of XMR could hit a potential high of $821.53. That said, a balance between the buying and selling pressures could settle the price at $674.70.

Price Prediction For The Next 5 Years

XMR might surge effectively in the coming five years, but the bearish trend may also haunt the price accordingly. Despite huge bullish momentum, the price may tend to witness a drop and may trend within $876. However, some bullish trends may not be ignored, and eventually, the price may trade above $1197.031 by 2025.

YearPotential LowPotential High
2023$552.34$821.53
Next 5 Years$876$1197.031

What Does The Market Say?

Wallet Investor:

According to Wallet Investor, XMR’s price might continue the bullish run and may hit a maximum of  $320.24 by 2022. Successively, the minimum price is expected to fall to $230.814 and the average price at $306.118. The firm anticipates that the price may hit the milestone of $673.370 by the end of 2025.

Gov.Capital:

Gov. capital has revised its prediction for Monero’s (XMR) price. The firm expects the token to hit a maximum of $327.80 by the end of 2022. On the contrary, they believe, a trend reversal in the market would plummet the price to $242.28. And with average buy and sell pressures it would end up trading at $285.047 by 2022. 

The website has also made a bullish prediction for the long term, they expect the price to surge maximum of $1252.13. Meanwhile, the average and minimum probabilities for 2025 are expected at  $1088.810, and  $925.48 respectively.

Digital Coin Price:

As per Digital Coin Price, XMR is expected to hit a maximum of $343.32 by the end of 2022. The analysts from the firm expect the XMR price to claim the minimum and maximum prices of $298.02 and $317.36. That said, Digital Coin Price predicts that XMR’s price could hit a maximum of $385.32 by 2023, and $516.28 by 2025. 

Click here to read our detailed price prediction of Filecoin’s FIL!

What is Monero (XMR)?

Monero (XMR) is a privacy-focused cryptocurrency that was launched in 2014. This blockchain forms an underlying technology behind digital currencies and acts as the public ledger of participants that showcases all the transactions on the network.

The unique part of the Monero blockchain is, that it can be mined using minimum hardware, with the domestic C.P.U’s. Unlike Bitcoin where-in, a huge hardware setup is required to mine. And hence consuming less energy comparatively.

The native token of Monero is XMR which initiated trade in the mid of 2014. The founders of Monero decided to remain anonymous, moreover, according to some rumours, Satoshi Nakamoto who is the inventor of Bitcoin, has also invented XMR.

Fundamental Analysis

It’s still opaque to find who are the real founders of Monero. The crypto fraternity firmly believes there are a total of seven key members involved in launching the platform. Who decided to remain anonymous.  As per speculations, Bitcoin founder Satoshi Nakamoto is one of those seven members who holds a key role in the platform.

Monero was launched on Bitcointalk as Bitmonero in 2014, then renamed Monero. The initial months were challenging for the platform. It had also recovered from a spam attack in September 2014. Whilst in the same year, the platform became successful in publishing research lab papers 1, 2, and 3. Though it has made frequent attempts to impact XMR price action yet there were no profits until 2016.

The year 2017 unveiled the true potential of Monero in terms of fundamentals as well as price action. In January the team had rolled out a network upgrade to enable RingCT transactions. Whilst in April, the platform managed to carry out a network upgrade to acclimate the minimum blocksize and dynamic expense algorithm. 

Howbeit, in August 2021, the platform has enabled atomic swaps between Monero and Bitcoin network. Whilst in October P2Pool was released to enable the advantages of pool and solo mining. The platform aims to launch second-layer solutions of speed and scalability in the years to come. 

Our Monero Predictions

The Monero platform seems to be invincible with a string of events lined up for launch. This secure platform is the best-suited investment in the contemporary rocky market scenario.

According to Coinpedia’s formulated Monero (XMR) price prediction. If the network launched upgrades such as Second layer solutions for speed and scalability, Bulletproofs+, Return addresses, and Triptych. The price may easily surpass the $560 mark by 2022. Conversely, if the network fails to execute its plan. Then the price can flip into a bearish trap, and dip to $410.

Historial Market Sentiments

2014-16

Monero was launched in 2014, but it did not see much success during its first two years. The coin performed well since mid-2016 when the price surged above $1 for the first time. By September, the price surpassed $10 and plunged back. However, maintaining the bullish trend, the price closed the yearly trade above $10.

2017

The price at the beginning of 2017 was at $12 which hit $132 by September. But fell below $100 by November. It was the time when Bitcoin was swinging to its highs and XMR followed it. By the end of December, the price hit the peak at $461 and close the trade for the year with a slight pullback at $334.

2018

The price reached its highest ever levels forming ATH at $495.84 on Jan 07, 2018, and began plunging since then. By the mid of 2018, the price fell close to $100 and eventually dropped below the levels in august. It regained the levels above $100 but the short-lived rally flipped into a bear market and the price closed the 2018 trade as low as $48.

2019

In January 2019, Monero (XMR) was trading at about $46. Its price rose and by mid-June, it managed to peak at around $120. With XMR closing the year near where it had started, the second half of the year saw a steady fall. The price fell close to $50 by the end of November and by December the price settled around $45.

2020

The price witnessed a steady growth till the mid of February and also fell close to $35 by mid-march. Further price rose steadily and surpassed $100 by the end of August and closed the yearly trade of 2020 above $150 to reach $159.

2021

 XMR’s price had commenced its trade in 2021, in an uptrend. The price had crossed $160 by the mid of January, and by the mid of February the price had hit $277. By April the price had crossed the $300 mark, managing an uptrend the price hit an ATH of $517.62 on the 5th of May. The chinese market crisis on May 19th, resulted in Monero undergoing a steep fall to $192.

While the price saw constructive movements in July, it did face multiple rejections at its crucial resistance of $302. However, the price managed to hit the monthly high at $338.63. Thereafter the price had been on a downtrend, which resulted in the closure of Q3 at $250.44.

In the fourth quarter, XMR price was seen ranging sideways, with multiple peaks at $293.86, until the 10th of November. Howbeit, the price took a downswing thereafter, which led to the annual trade closure at $223.98.

To read our price prediction of Zilliqa (ZIL) click here!

FAQ

Q: Is Monero a good investment in 2022?

A: Yes, Monero is definitely a good investment option, as it may reach a trading value of $562.02 by the end of 2022.

Q: Is Monero’s privacy policy legal?

A: Monero is a privacy-oriented crypto that is untraceable.

Q: Will Monero’s (XMR) price ever reach over $1000?

A: The price of Monero’s XMR is expected to hit a maximum of $1197.031 by the end of the next five years.

Q: How much Monero can be mined in a day?

A: A single block of Monero requires approximately 2 minutes to mine. Hence nearly 720 blocks can be mined in a day.

Q: Can I mine Monero on my laptop or phone?

A: Yes, you can mine XMR on your laptop or Android phone, using the right app.

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button