Monero {XMR} looks for fresh support; Blokt interviews Monero Community Workgroup organizer regarding RandomX

Monero is ranked at #13 to the south of Cardano in the market. The trading volume recorded stands at roughly $72.168 million, whereas the supply has over 17,237,812 XMR coins involved as part of the circulation. The total market cap of Monero amounts to $954.344 million for now. The price descended at a rate of 3.35% in the course of the past 24-hours; this brought XMR down all the way to $55.36 where it presently rests.

Darren Brazer [of Blokt] recently interviewed Justin Ehrenhofer. The topic of discussion included the software update scheduled to go LIVE at the end of November this year. Upgrades on the Monero network take place twice during every single year. Monero 0.15 will bring in a more user-friendly chain, i2p connections can be created successfully soon. RandomX is built to effectively combat ASIC devices i.e. those which bring about centralization.

Essentially, RandomX is a Proof-of-Work setup which shall eclipse CryptoNight shortly after launch. Monero CLI will support i2p and Tor connections. Justin also referred to the second edition of Mastering Monero which is currently being developed.

According to the candlestick chart associated with the XMR/USD pair on tradingview [based on data obtained from the Poloniex exchange], sellers are the dominating force for Monero. The peaks tied to the Awesome Oscillator for 30th September and 1st October were both green, but today’s peak bears the brown shade. The daily RSI [for 14 periods] is at 29.27 which signifies that XMR is yet to leave the oversold zone. This points to bearish momentum being the prevalent form of influence.

On the other hand, the gap between the MACD line and the signal line has shrunken, although the histogram hasn’t gone green yet. Support can be found at $52.323, and resistance lies close to the $60.52 mark. Not too long ago, RandomX went LIVE on the public testnet so that users can experiment and familiarize themselves with the working of this brand-new PoW algorithm.

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