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

April 1, 2024

Price Prediction

Sean Korbett

Monero (XMR) is a cryptocurrency that focuses on secrecy and confidentiality. XMR is one of the widely used cryptocurrencies due to its private nature. Will this feature help XMR go up in price? Can Monero reach $1,000 or even hit $10,000 in 2030, 2040 or 2050? Discover the long-term XMR price prediction in StealthEX’s latest article.

Monero (XMR) Overview

Monero is the first privacy-focused and censorship-resistant blockchain. Every Monero blockchain user and their transactions are anonymous by default. Two essential characteristics are the cornerstone of the Monero Protocol:

• Untraceability. All possible senders are equiprobable for each incoming transaction.
• Unlinkability. It is impossible to prove any two transactions were sent to the same person.

It is well-known that Monero is the strongest proponent of privacy. The network anonymizes transaction amounts and obfuscates sender and receiver identities with cryptographic techniques like stealth addresses and ring signatures. Monero is a permissionless and decentralized Proof-of-Work protocol. Therefore, it benefits from the security properties of similar networks, like no central authority and no control over transaction data or user’s personal information.

The Monero network was born as a fork of a project known as ‘Bytecoin’ in April 2014. Monero is one of the earliest blockchains to advocate complete anonymity, which entailed addressing the anonymity weaknesses plaguing networks like Bitcoin.

Monero (XMR) Features

Monero offers a number of features within the crypto space. These are:

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. Stealth addresses 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. This 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. P2Pool, a decentralized mining pool, allows miners to pool their resources and mine XMR together. This helps to promote decentralization and prevent the concentration of Monero mining power.
5. RandomX. This 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 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 pretty much 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: At the moment, it costs around $125-140.

Monero (XMR) Price Chart   

CoinMarketCap, 1 April 2024

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

XMR Price Prediction 2030

DigitalCoinPrice experts expect that by 2030 XMR’s price will rise considerably. According to their estimations, XMR coin’s price might go as low as $877.36 (+573%), while its maximum price can nearly reach $1,000: $974.29 (+647%).

PricePrediction crypto analysts believe that XMR coin be in huge demand by 2030: it’s expected to cost $1,764 (+1,253%) at its low, while at its maximum Monero will rise to $2,129 (+1,533%).

Telegaon crypto experts think that in 2030 XMR make good progress in terms of price: its minimum price is going to go as low as $689.45 (+429%), while at its peak it can climb as high as $807.59 (+519%).

XMR Price Prediction 2040

CoinMarketCap believes that Monero has great long-term potential. According to their estimates, XMR might reach $3,777.76 (+2,799%) per coin at its highest point. Its lowest price might drop to $3,602.54 (+2,664%).

Based on the experts’ forecasts at PricePrediction, in 2040, Monero will reach staggering price levels: it can skyrocket to $51,210 (+39,198%), while at its lowest it can drop to $28,240 (+21,571%).

Telegaon analysts believe that by 2040, XMR is going to go well beyond the $1,000 mark: it can drop in price to a minimum of $1,823.56 (+1,299%), while at its highest point it can rise to $2,387.07 (+1,731%).

XMR Coin Price Prediction 2050

CoinMarketCap analysts believe in the massive adoption potential for Monero and think that by 2050, XMR coin will rise to a maximum level of $7,930.12 (+5,985%), while its minimum price will drop to $7,371.24 (+5,556%).

According to PricePrediction, by 2050 Monero is going to reach current price levels of Bitcoin and go well beyond that: XMR will see a lowest price of $63,526 (+48,649%), while at its peak it might reach $81,512 (+62,452%).

According to Telegaon forecasts, in 2050 XMR is going to either drop to $3,489.14 (+2,577%) at its low or hit $4,109.39 (+3,053%) at its peak.

XMR Price Forecast: Experts’ Opinions

You can read about the short-term Monero price prediction for 2024, 2025, 2026, and 2027 in the previous StealthEX article.

Binance’s announcement of Monero’s delisting on February 20th erupted like a bombshell. Behind this technical choice is a never-ending power fight between supporters of anonymous cryptocurrency and authorities that wish to ban it. Monero has become a symbol of this ideological conflict with enormous consequences. It is difficult to foresee the conclusion of this never-ending tug of war between regulators and anonymous cryptocurrency enthusiasts. States possess powerful capabilities for coercing ecosystem players. However, history has demonstrated the difficulties of removing decentralized technologies.

Despite Binance delisting Monero, many experts believe this won’t divert the coin from its course: for instance, CryptoNewsz, along with other price prediction websites think that by December 2030, XMR coin is going to hit $1,467.34 at its peak.

Now that we’ve seen possible long-term price predictions for Monero, let’s find out a bit more about the factors that can influence its price.

Factors Affecting XMR Coin Price

One key consideration is the general market opinion towards cryptocurrency. Positive mood and optimism in the market might drive up the price of the XMR currency. In contrast, a negative attitude or anxiety might cause a decline in price. Another issue to consider is Monero’s adoption and usage. If more people start utilizing Monero for transactions and as a store of value, the demand for the XMR coin will rise, driving up the price. Additionally, regulatory developments and government regulations might have an impact on the price of the XMR coin.

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

• Technical developments.
• Adoption and usage.
• Market sentiment.
• Competition.
• Regulatory developments.

Risks and Opportunities

One of the biggest risks when investing in Monero undoubtedly lies in its private nature: while many praise this cryptocurrency, the problem is that numerous governments around the world could see it as a potential threat. For instance, Binance has recently delisted Monero, which can be seen as a troubling sign for the cryptocurrency.

On the other hand, XMR’s privacy features can also lead to its wider adoption despite tighter regulations. This can help the coin’s price propel way beyond the $1,000 mark. Monero draws its value from its function as digital cash, and if widely used, can significantly rise in price.

Can Monero Reach $1,000?

It’s possible. Most long-term price prediction scenarios mention this price.

Will Monero Reach $10,000?

XMR will need to drastically increase its market cap in order to reach $10,000. Although Monero has few competitors, the probability of reaching this price level is currently low.

Does Monero Have a Future?

While Monero has tremendous potential, it’s difficult to say whether the coin is going to be massively adopted. Monero’s price can be influenced by regulators, market sentiment, adoption, among other factors.

Is Monero Going to Rise?

It’s unclear how big of a leap Monero is going to make. It’s best to stay updated on the regulatory landscape and be prepared for potential regulatory changes that could affect Monero’s value. 

What Is the XMR Prediction for 2030?

Analysts at Price Prediction believe that in 2030 Monero will rise to $2,129.

What Is the Price Prediction for XMR Coin in 2040?

Based on the forecast by PricePrediction, in 2040, Monero can cost as much as $51,210 at its highest point.

What Is the Long-Term Forecast for Monero?

According to PricePrediction, by 2050 Monero is going to reach a whopping $81,512 at its peak.

Is XMR Coin a Good Investment?

With its massive potential for growth and adoption, Monero is expected to remain a major player in the cryptocurrency market for years to come. It may be a good investment considering your risk tolerance and finances.

How Stable Is XMR Crypto?

Among cryptocurrencies Monero is hailed as one of the most stable coins.

Is Monero (XMR) Safe?

As the most effective of the so-called privacy coins, Monero is designed specifically to make it impossible for anyone to trace. However, according to Andy Greenberg, Monero can be traced, even though this process is more difficult.

Conclusion

It is evident that Monero has a promising future, but numerous factors could influence its price in the coming years. As the market evolves and matures, we can expect more accurate and dependable projections about Monero’s price in the future. Whether you are a current investor, a potential enthusiast, or simply interested in cryptocurrencies, now is an exciting time to be a part of this rapidly expanding sector.

Where to Buy Monero?

StealthEX is here to help you buy Monero 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 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.