- Bullish XMR price prediction is $129.7 to $250.
- XMR price will also reach $300 soon.
- Bearish XMR price prediction for 2022 is $96.3.
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 XMR is $113.83 with a 24-hour trading volume of $72,151,100 at the time of writing. However, XMR has increased nearly 0.5% in the last 24 hours.
Moreover, XMR has a circulating supply of 18,142,176 XMR. Currently, XMR trades in cryptocurrency exchanges such as Binance, OKX, Bitget, Bybit, and MEXC.
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.
The above chart of XMR laid out a falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal.
This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, XMR is in the range of $118.51. If the pattern continues, the price of XMR might reach the resistance level of $134.55 and $194.30. If the trend reverses, then the price of XMR may fall to $98.85.
Monero (XMR) Support and Resistance Level
The below chart shows the support and resistance level of XMR.
From the above daily time frame, it is clear the following are the resistance and support levels of Monero (XMR).
| Resistance Level 1 | $129.7 |
| Resistance Level 2 | $176.1 |
| Resistance Level 3 | $250 |
| Support Level | $96.3 |
The charts show that 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 $250.
Accordingly, if the investors turn against the crypto, the price of the XMR might plummet to almost $96.3, a bearish signal.
Monero (XMR) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of XMR is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of XMR lies below the cutoff line, indicating weaker participants in the current trend.
More so, the XMR’s Moving Average (MA) is shown in the chart above. Currently, XMR is in a bearish state. Notably, the XMR price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of XMR at any time.
Meanwhile, the relative strength index (RSI) of the XMR is at level 35.77. This means that XMR is in a nearly oversold 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.
The above chart represents the ADX of Monero. Currently, XMR lies in the range of 39.8, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of Monero (XMR). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of XMR lies below the 50 levels, indicating that the direction of volatility is low. In fact, XMR’s RSI is at 35.77 level 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).
From the above chart, we can identify the trend of the ETH, BTC, and XMR is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and XMR also increases or decreases respectively.
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 in 2022 is $135. On the other hand, the bearish XMR price prediction for 2022 is $96.3.
Furthermore, with the advancements and upgrades on the XMR ecosystem, the performance of XMR would help to reach above its current all-time high (ATH) $250 very soon. But, it might also reach $300 if the investors believe that XMR is a good investment in 2022.
FAQ
Monero is a privacy-centric cryptocurrency based on the CryptoNote protocol, which is a secure, private and undetectable currency system.
XMR has listed on many crypto exchanges which include Binance, OKX, Bitget, Bybit, and MEXC.
With the ongoing developments and upgrades within the XMR platform, it has a high possibility of reaching its ATH soon.
On Jan 09, 2018, XMR reached its new all-time high (ATH) of $542.33.
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.
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 $300 soon.
Monero (XMR) price is expected to reach $420 by 2023.
Monero (XMR) price is expected to reach $560 by 2024.
Monero (XMR) price is expected to reach $630 by 2025.
Monero (XMR) price is expected to reach $700 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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Source: https://thenewscrypto.com/monero-xmr-price-prediction