Monero is a cryptocurrency that aims to provide private and anonymous transactions. It uses advanced cryptography to hide the details of senders, recipients, and other transaction details.
It also uses ring signatures, stealth addresses, and fungibility to prevent linking transactions to each other or users. Monero (XMR) is popular among illicit users and darknet markets, and governments are trying to crack its code.
Monero price has experienced a halt in the last week after an aggressive buying in the last five weeks. The XMR crypto price gained over 21.43%. The technical indicators imply that the price surpassed the 50-day and 200-day EMA indicating the dominance of bulls over the price trend.
It had a 24-hour trading volume of $52.477 Million with a rise of 7.28% as compared to the previous day. The live market cap is $3.06 Billion and stands at 26th among the top cryptos. The volume-to-market cap ratio is 1.66% indicating a low volatility in the market.
Monero Price Prediction November 2023
The price action analysis elaborates on the formation of an ascending triangle pattern over the weekly timeframe. The price trend seems to be tilted to the bullish side in the short term. However, the long-term trend is still indecisive until it hovers in the range of an ascending triangle pattern.
The price prediction for November 2023 showcases a neutral to bullish outlook as the price has surpassed the 50-day and 200-day EMA. The price may reach $186.4 by November 2023.
Monero Price Prediction 2023
The optimistic analysts expect that the XMR price may surpass $205.1 by 2023, indicating an upside potential of 38.54% from CMP. The bulls are dominating in the short term and might continue to dominate, turning the long-term trend optimistic.
The minimum price target up to which the price may advance is estimated at $158.6 by the end of 2023.
Monero Price Prediction 2024
As per the analysts, the most optimistic target that Monero price may achieve is $315 indicating an upside potential of 88.8% from the CMP. The average analyst price target is $248.8 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $199.4.
Monero Price Prediction 2025
The next three years might remain an optimistic year for cryptocurrencies as major enhancements and updates are yet to arise in the next three years that may push the price higher.
Over the next three years, the XMR price may reach a maximum of $389.6 as per the most optimistic estimates of the analysts. The price may surpass $345.4 according to the average forecast of analysts. The minimum forecasted price by the end of 2025 is $276.7.
Monero Price Prediction 2026
The XMR price may reach a high of $450 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $367.1 by 2026.
Monero Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view estimates a price target of $487. The average analysts’ price target is $448.4 and the minimum price target that the XMR crypto may achieve by 2027 is $402.8.
Monero Price Prediction 2028
Over the next five years, the crypto markets will have evolved more and might be playing a crucial role in many sectors like finance and the digital world. The XMR crypto may therefore rise to a high of $624.4 on the most optimistic side.
Moreover, the average price target of analysts by 2028 is $563.4. However, if uncertainties arise in the future and the price cannot surge to its full potential, then it may reach a minimum of $462.8.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/06/monero-price-prediction-2023-2028-can-xmr-price-reach-500/