The cryptomarket has rallied in the past few days as Bitcoin has emerged on a bullish run and shows no signs of stopping. Several coins saw a positive rise in value today with the total market cap hitting the $210 billion mark.
Monero (XMR) Intraday Price Analysis
Monero (XMR) the privacy coin was able to make double digits increase in value as the coin gained 12.739% to the US Dollar. The coin which had earlier undergone a brief rally in April has enjoyed a steady rise in price since then.
Priced at $60 during its peak moment on April 2, XMR has achieved a 20% increase in price and currently trades at $75. The coin has been able to surpass its point of critical resistance which was placed at $72.18 and looks set to rally towards the three-digit mark of $100.
Monero (XMR) is the 12th largest cryptocurrency based on market cap and could look to enter the top 10 list in the coming weeks. The privacy coin is one of the projects that has always fascinated the crypto world as transactions on its network are near impossible to track.
The coin has been making decent forays into partnering with several business partnerships on the horizon for XMR. It was announced that the blockchain would be partnering with a hotel booking website Trippkki. This partnership is important to Monero as Trippkki has over 500,000 hotels registered on its platform.
Monero also gained a big one in of recent as the currency XMR was taken as a payment option on the Trezor platform. This would allow users to purchase Trezos hardware specific to XMR.
In addition to utilizing the coin as a means of building your portfolio, it is important to note that Monero is arguably the most secured blockchain in the world.
Monero (XMR) Price Prediciton
The gaming industry has also solicited with the coin as Monero recently inked a partnership with console manufacturers Xbox. the coin also has tonnes of updates and novel security protocols expected to be realised before the end of the year.
We believed that Monero would continue its steady increase with our short-term prediction of $80 with a resistance level of $82.