(XMR) Monero Price Update: Massive Price Rise Expected

A currency that continues to surge in the markets despite infamy and controversies, Monero has established itself as a favourite of the dark net, as well as for those who wish to remain anonymous. The currency has been controversial because it is being mined via cryptojacking – where websites are injected with a malicious code resulting in mining for Monero using the CPU power of unsuspecting users.

Currently ranked in at #12 by market cap, Monero price has fallen by 4.56% over the past 24 hours. However, the currency still carries a lot of optimism around it, with market experts predicting that a major boom is on its way. Over the past 24 hours, Monero price fell from $291 to $275. The lowest point of the day came at $265. The graph below shows where Market analysts expect Monero price is heading towards:

Monero price update 25 February 2018
Expected movement of Monero price | Image; Tradingview

A careful observation of the tradingview graph above shows that the currency is expected to gain a major momentum soon. It is being expected that Monero, by late April, would grow by over 400% and hit the $2000 mark. While this sounds quite outlandish as of now, considering that the currency has been a part of this uptrend channel for so long indicates that this growth is indeed a probability as the channel broadens.

If you look at the Monero price performance over the past week, the currency has fallen from $325 to $276, which is a significant fall. However, Monero investors are confident that a strong growth is on its way. Over the past week, Monero began at $327, peaked at $337 and then dipped to $265 before bouncing back to the $276 mark.

For more (XMR) Monero price related updates and news stay tuned to Cryptocrimson or you can also bookmark our page. We’ll also keep adding updates to this article for real-time analysis.

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Disclaimer: 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.

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