Can Monero Reach $1,000 Soon? XMR Price Prediction

August 2, 2024

Price Prediction

Sean Korbett

Monero (XMR) is a popular peer-to-peer cryptocurrency. Up to this day, it remains one of the most popular crypto solutions on the market: it focuses on privacy while intending to be untraceable. Due to the fungibility of the coin, a transaction on the Monero blockchain can’t be traced back to a specific user or a real-world identity. But will this private cryptocurrency become more popular as time goes by? Will it reach price levels of $1,000 or even $10,000? Read more about long-term Monero price prediction in the new StealthEX article.

Monero (XMR) Overview

Monero is a Bytecoin code fork providing anonymous value transfer through a set of special features. Due to its use of privacy-enhancing technology including ring signatures, stealth addresses, and Ring Confidential Transactions (RingCT), Monero is fundamentally different from other digital currencies. The only significant decentralized cryptocurrency whose users are all automatically anonymous is Monero. It automatically conceals information about the sender, the recipient, and the money exchanged. 

The Monero network’s singular concentration on anonymity and secrecy has been both a pain and a blessing for cryptocurrency. It is frequently referred to as a privacy coin. It is regarded as the pinnacle of cryptocurrency-focused privacy, simulating the anonymity of exchanging real money. 

Monero was created in April 2014 by Monero project steward Riccardo Spagni (aka fluffypony) and was developed with the assistance of the Monero Core Team.

Monero Features

Monero offers several features within the crypto space:

1. Ring signatures. Ring signatures obscure the sender’s identity, who would be rendered as a part of a group (or ‘ring’) of possible senders, making it impossible to determine which one sent the transaction.
2. Stealth addresses. These help to protect the privacy of both senders and recipients. A one-time address is generated for each transaction, making it difficult to link multiple transactions to the same recipient.
3. Bulletproofs. Bulletproofs is a form of zero-knowledge proof used by Monero transactions to reduce the size of confidential transactions. Bulletproofs help to improve scalability and reduce transaction fees.
4. P2Pool. This decentralized mining pool allows miners to pool their resources and mine XMR together. This helps promote decentralization and prevents the concentration of Monero mining power.
5. RandomX. RandomX is a central processing unit (CPU)-optimized Proof-of-Work algorithm to enhance the network’s security and prevent ASIC mining, which makes mining Monero within reach of CPUs and general processing units.

Monero (XMR) Price Chart    

CoinMarketCap, 2 August 2024

Monero Price History Highlights 

• 2014-2015: Monero was first traded in the cryptocurrency exchange on 21 May 2014 at price of $2.47. In 2015 it also hit its all-time low of $0.213.
• 2016: 2016 brought the first major price movements for XMR. At the end of August and the start of September, the price of XMR increased fivefold – from around $2.50 to roughly $13 in just a fortnight. 
• 2017: In 2017, Monero experienced four more surges (each followed by periods of consolidation), with its market cap surpassing $1 billion for the first time in August. This brought XMR up to a value of around $85 per coin by the start of November. 
• 2018: 2017 was followed by a series of lower highs and lower lows, and by the end of 2018 XMR was worth less than $50.
• 2019: XMR made steady gains in the first half of 2019, only to lose them again over the second half of the year. Interestingly, XMR ended the year at the same price it had been at the start of 2019.
• 2020: 2020 saw some success: while the price of Monero plummeted in March, it had mostly recovered by August. After a brief drop at the beginning of September, XMR rose steadily throughout the remainder of the year. Monero concluded 2020 with $156 per XMR, representing a 240% rise from the beginning of the year.
• 2021: The trend continued into 2021, with XMR price rallying over 80% in less than a fortnight in February to reach a peak of $270. It also hit its all-time high of $517.62.
• 2022: In January 2022, the price of Monero was $228.85 and in February the price fell down to $146.49. In April 2022 the price was $212.43 and in May 2022 the price was $223.48. In June, the price fell down to $198.76 and further reduced to $112.69 in July 2022. Monero finished the year with $142.85 per coin.
• 2023: In 2023, XMR traded between $146 and $163.
• 2024: In June, XMR peaked at $180. At the moment, XMR trades for about $160-$170.

Monero Price Prediction 2030, 2035, 2040-2050

Monero Price Prediction 2030

DigitalCoinPrice experts believe that in 2030 XMR’s price might go as low as $1,103.26 (+572%), while its maximum price may go up to $1,225.14 (+646%).

PricePrediction crypto analysts are even more optimistic: they believe that by 2030 XMR will reach and go beyond $1,900: it will be trading at a minimum price of $1,985 (+1,109%), while the expected maximum price of XMR will hit $2,286 (+1,293%).

Telegaon crypto experts believe that in 2030 Monero will rise beyond $500: the lowest price XMR can reach is $689.45 (+320%), or it can also rise in price to $807.59 (+392%).

Monero Price Prediction 2035

According to Telegaon, in 2035 Monero will finally hit $1,000: it can go as high as $1,365.67 (+732%) per coin at its highest point. Its minimum price might go as low as $1,168.38 (+611%).

XMR Price Prediction 2040

PricePrediction experts believe that in 2040, XMR will continue to considerably rise in price. Based on their predictions, Monero might go as high as $67,908 (+41,282%) per coin at its highest point. Its minimum price might go as low as $42,833 (+26,001%).

According to Telegaon, Monero will continue rising in price. The website claims that the expected maximum price of Monero in 2040 will be $2,387.07 (+1,354%), and it may also drop to a minimum of $1,823.56 (+1,011%). 

Monero Price Prediction 2050

PricePrediction crypto analysts think that in 2050 XMR will overcome the price of one Bitcoin at the moment of writing: its lowest price will be around $80,226 (+48,788%), while its maximum price will go as high as $103,550 (+63,001%).

According to Telegaon forecasts, Monero will also be making significant progress in terms of price by the year 2050. According to this website, the highest price XMR may reach is $4,109.39 (+2,404%) per coin. It can also drop in price to a minimum of $3,489.14 (+2,026%) per coin.

For the short-term Monero price prediction before 2030, please refer to the first article from StealthEX.

XMR USDT Price Technical Analysis     

Tradingview, 2 August 2024

Now that we’ve seen possible price predictions for Monero, let’s find out a bit more about what crypto experts have to say about it.

Monero (XMR) Price Prediction: Experts’ Opinions

Monero heavily relies on its privacy features. It offers default privacy and anonymity rather than optional privacy or pseudo-anonymity. Moreover, it’s harder to trace than Bitcoin, which can be one of the reasons for its rising popularity. Monero also has a staunch and devoted community, along with a decentralized and crowdfunded team that places its commitment to privacy above all else. All these features may lead to a further increase in price for XMR.

Many experts think that due to the popularity of the coin, Monero will continue rising in price. Analysts such as CoinEagle via CoinMarketCap, believe that in 2030, XMR will reach $2,000 at its peak.

What Does the XMR Price Depend On?

The development of XMR could be accelerated by a number of variables. The use of Monero for transactions needing privacy may be expanding, which could increase demand for XMR. Strategic alliances and integrations may potentially significantly increase the visibility and liquidity of XMR. Some potential use cases for Monero in the future include anonymous online transactions, private donations to political campaigns, and secure online voting. Monero may also be used as a store of value or a hedge against inflation.

In addition, the supply and demand of Monero will largely affect its price. As more people begin to use and transact in Monero, the demand for the cryptocurrency will increase, leading to a rise in its price. The regulatory environment in which Monero operates could also affect its price. If governments around the world begin to crack down on privacy-focused cryptocurrencies, it could lead to a drop in the demand for Monero.

When assessing XMR coin as an investment, keep the following considerations in mind:

• Technical developments;
• Use cases;
• Adoption and usage;
• Market sentiment;
• Regulatory developments;
• Competition.

Risks and Opportunities

One of the main advantages of using XMR over other privacy-focused cryptocurrencies is its strong focus on privacy and security. Monero also has a larger community and a more established reputation than many of its competitors. Monero offers industry-leading privacy-enhancing technology like Ring confidential transactions (Ring CTs), Stealth addresses, and Bulletproofs.

Along with these advantages, due to the regulatory risk, many exchanges have delisted (or never offered) XMR, making it one of the least accessible crypto assets. There’s also a threat that a larger, more popular blockchain adopts full privacy-preserving technology making its existence superfluous. We should also mention that due to its privacy features, new regulations may affect XMR drastically, and if this happens, Monero’s future will become even more uncertain.

Is XMR a Good Investment?

It may be if you believe that its privacy features will help this cryptocurrency grow in price.

What Is the Long-Term Forecast for Monero?

It is still unclear what the future holds for Monero, but the $1,000 price level could be reachable around 2030.

Can Monero Reach $1,000?

Most experts believe Monero can and will reach $1,000 around 2030.

Will Monero Reach $10,000?

If XMR were to rise 25% every year, it would take it 19 years to reach $10,000. Monero operates in a niche category with few competitors, and this may be one of its advantages. However, XMR probably has a low chance of reaching $10,000, at least for now.

Does Monero Have a Future?

It’s difficult to say. Considering the fact that the crypto regulations will most likely tighten, Monero’s privacy features can make it more susceptible to becoming banned. In fact, on February 20, 2024, Binance, one of the world’s largest cryptocurrency exchanges, announced the delisting of Monero. If this problem is overcome or eliminated, Monero might become a really big crypto asset.

Why Will Monero Succeed?

Monero has solid technology and a dedicated team/community strongly focused on the privacy of cryptocurrency. This can play to its advantage.

Is Monero Going to Rise?

It’s possible if the market is bullish and/or Monero becomes more sought-after.

What Is the XMR Prediction for 2030?

According to PricePrediction, in 2030 Monero will cost $2,286 at its peak.

What Is the Price Prediction for XMR Coin in 2040?

PricePrediction experts believe that in 2040 XMR will hit a whopping $67,908 at its peak.

What Is the Target Price for Monero?

Many experts believe that Monero can easily reach $1,000 by 2030.

Will Monero Skyrocket?

It’s possible if the market turns bullish again and/if Monero offers more use cases or becomes even more popular.

How Stable Is XMR?

In fact, XMR is considered one of the most ‘stable’ cryptocurrencies as its price hovers more or less around the same level.

Is Monero (XMR) Safe?

Every transaction on Monero is private, so it’s a relatively safe coin. However, it can be 

Is Monero Traceable?

Cybersecurity expert Andy Greenberg revealed that he has seen a leaked Chainalysis document that tells Italian law enforcement they can trace Monero in the majority of cases, finding 60% of usable leads. So, in fact, Monero can be traced, but it’s a more daunting task.

Is Monero 100% Private?

One cannot be completely private. Your privacy set is the set of people using Monero. Having said that, Monero is a lot more difficult to trace than the majority of other cryptocurrencies.

Is XMR a Good Buy?

It could be if you believe in its future. With a long history in the crypto community, a decent number of useful features, and real-life use cases, XMR can be heading into a brighter future.

Conclusion

Privacy itself has both legitimate and illicit uses, just like any other tool. A project like Monero, whose community feels that everyone has the right to keep their transactions private, would benefit from a similar idea. It’s about each person’s sense of personal limits, not about having nothing to conceal. Monero stands as the leading privacy coin, but it faces persistent challenges. If this cryptocurrency stands the test of time, it may become even more widely used, which, in turn, will lead to its price rising along with its popularity.

Where to Buy Monero Crypto?

StealthEX is here to help you buy Monero (XMR) if you’re looking for a way to invest in this cryptocurrency. You can buy XMR privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do Monero wallet-to-wallet transfers instantly and problem-free.

How to Buy XMR: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

1. Choose the pair and the amount you want to exchange — for instance, ETH to XMR. 
2. Press the “Start exchange” button.
3. Provide the recipient address to transfer your crypto to.
4. Process the transaction.
5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.