Monero Price Prediction: Is XMR a Good Investment?

February 27, 2024

Price Prediction

Sean Korbett

Monero (XMR) is a cryptocurrency that focuses on privacy and confidentiality. Unlike most cryptocurrencies, which are built on openness and security, Monero takes a different approach by preserving the concepts of anonymity. This sets it apart from popular transparent blockchains such as Bitcoin and Ethereum. Monero’s origins may be traced back to Bytecoin, the first digital currency to employ the CryptoNote technology. Despite its lack of success, Bytecoin opened the ground for the development of privacy-focused cryptocurrencies such as Monero. Read more about Monero price prediction in the new StealthEX article.

Monero (XMR) Overview

Monero (XMR) is a cryptocurrency that has gained popularity in recent years due to its emphasis on anonymity and security. It was founded in 2014 with the objective of providing a secure and private means to transfer cash online, and it has since grown to become one of the world’s most popular cryptocurrencies. In this post, we’ll look at Monero’s primary features and benefits, as well as its place in the larger cryptocurrency ecosystem.

Monero is primarily used as a digital currency for online payments and transfers. Monero can be used to purchase goods and services, move payments between individuals, and store value as an investment. It is accepted by an increasing number of shops and is easily purchased and traded on a variety of cryptocurrency exchanges.

Due to the 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. 

Monero’s origins may be traced back to Bytecoin, the first digital currency to use CryptoNote technology, which was developed in 2012. CryptoNote technology is a privacy-focused mechanism that enhances transaction anonymity and security in cryptocurrencies such as Monero.

Later, seven developers from the Bytecoin project formed Bitmonero, which was later abbreviated to Monero. Monero has been committed to privacy and anonymity since its beginnings, and these features have helped establish XMR as one of the market’s leading privacy-focused cryptocurrencies.

As a result, XMR is now recognized as one of the top cryptocurrencies for privacy on the market.

Monero 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, in February 2024, Monero costs around $135.

Monero (XMR) Price Chart    

CoinMarketCap, 27 February 2024

Monero Price Prediction

Monero Price Prediction 2024

DigitalCoinPrice experts expect the price of XMR to go up in 2024. According to their estimations, XMR coin’s price might go as low as $116.38 (-10%), while its maximum price can reach $283.01 (+54%).

PricePrediction crypto analysts believe that XMR coin will definitely rise in price in 2024: it’s expected to cost $172.35 (+33%) at its low, while at its maximum Monero will rise to $200.09 (+65%).

Telegaon crypto experts think that in 2024 XMR will definitely go beyond its current price levels: its minimum price is going to go as low as $151.49 (+12%), while at its peak it can climb as high as $230.63 (+71%).

Monero Price Prediction 2025

According to DigitalCoinPrice, the price of XMR will continue to rise. Based on the experts’ predictions, in 2025, XMR might reach $334.39 (+158%) per coin at its highest point. Its lowest price might drop to $277.44 (+114%).

Based on the experts’ forecasts at PricePrediction, in 2025, Monero can go as high as $301.83 (+133%) as its lowest price might drop to $248.07 (+91%).

Telegaon analysts believe that XMR coin will either reach its lowest point of $235.12 (+74%), while at its highest point it can rise to $353.96 (+162%).

Monero Price Prediction 2026

DigitalCoinPrice analysts think that by 2026, XMR coin will rise to a maximum level of $471.34 (+264%), while its minimum price will drop to $381.66 (+195%).

According to PricePrediction, in 2026 XMR will see a lowest price of $367.82 (+184%), while at its peak it might reach $436.16 (+237%).

According to Telegaon forecasts, in 2026 XMR is going to reach $357.13 (+165%) at its low or hit $426.17 (+216%) at its peak.

Monero Price Prediction 2027

DigitalCoinPrice experts think that by 2027 Monero is going to reach $497.78 (+284%) at its lowest point and $593.42 (+358%) at its highest point.

PricePrediction believes that by 2027, XMR will cost at least $539.49 (+317%) at its lowest point and $637.25 (+392%) per coin at its highest point.

Telegaon believes that in 2027 Monero will cost $515.61 (+298%) per coin at its peak. It can also drop in price to a minimum of $432.54 (+234%).

Monero Price Prediction 2030

DigitalCoinPrice states that by 2030 Monero will significantly increase in price: it can hit $872.91 (+574%) at its low and nearly a thousand dollars, $969.34 (+649%) at its high.

PricePrediction believes that by 2030, Monero is going to reach staggering price levels: $1,578 (+1,119%) at its low and a whopping $1,935 (+1,395%) per coin at its peak.

Telegaon believes that by 2030 Monero will cost $807.59 (+524%) per coin at its peak. It can also drop in price and reach $689.45 (+432%).

XMR Price Prediction: Experts’ Opinions

A lot of experts place their bets on the privacy features of the coin. According to cybersecurity author Andy Greenberg, Monero’s privacy features make it harder to trace compared to Bitcoin, which is currently the largest cryptocurrency by market value. However, Greenberg also stated that he had seen a leaked Chainalysis document that tells Italian law enforcement they can trace Monero in the majority of cases, finding 60% of usable leads. This revelation challenges the common belief that Monero is completely untraceable.

Nonetheless, due to Monero’s popularity and its numerous use cases, many analysts, such as those at CoinMarketCap, believe that by 2030, XMR coin might reach a maximum price level of $1091.87.

You can read about the long-term Monero price prediction for 2030, 2040, and 2050 in StealthEX’s latest article.

XMR USDT Price Technical Analysis     

Tradingview, 27 February 2024

Now that we’ve seen possible price predictions for XMR, let’s find out a bit more about the factors that can influence its price and position on the market.

Factors Affecting XMR Coin Price

The price of XMR can be influenced by several factors. One of the main factors is market demand. If there is a high demand for XMR, the price is likely to increase. If the demand is low, Monero’s price will decrease. In a bearish market its price will also stay low, while in the bullish market it can skyrocket. Additionally, Monero-related news and events can have an impact on its popularity and, consequently, its price. Positive news, like alliances or technology developments, can drive prices higher, whilst negative news might have the opposite impact. 

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

Investing in Monero (XMR) has some dangers and hurdles that investors should be aware of. One of the primary hazards is regulatory uncertainty surrounding cryptocurrency. Governments around the world are still figuring out how to regulate and tax cryptocurrencies, which may have an impact on Monero’s value and legality. Furthermore, Monero’s emphasis on privacy and anonymity has sparked concerns about its possible usage in criminal activities, which may result in heightened regulatory scrutiny. 

Monero’s price, like that of other cryptocurrencies, can be extremely volatile, causing its value to vary substantially over a short period of time. This volatility presents both a risk and an opportunity for investors. 

Does XMR Have a Future?

It will heavily depend on whether Monero’s privacy features can be put to good use or not. It’s also best to stay updated on the regulatory landscape and be prepared for potential regulatory changes that could affect Monero’s value. 

What Is the Long-Term Forecast for Monero?

According to PricePrediction, in 2040 Monero is going to cost $50,062 at its peak.

What Affects the Price of Monero?

Monero’s price can be influenced by regulators, market sentiment, adoption, among other factors.

Can 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.

Is Monero 100% Private?

According to Andy Greenberg, Monero is harder to trace, but it’s not impossible.

Conclusion

Monero provides privacy in an age when it is becoming increasingly scarce. It also makes it a potentially appealing investment for people who value fungibility and privacy. Monero remains an invaluable alternative in an environment where transparency is often the standard. However, investing in XMR involves substantial risks, most notably potential regulatory action and limited vendor acceptance. As with any crypto investment, it’s best to do your own research and stay updated on the news about regulation and cryptocurrencies.

Where to Buy Monero (XMR)?

StealthEX is here to help you buy Monero if you’re looking for a way to invest in this cryptocurrency. You can swap XMR privately and without the need to sign up for the service. StealthEX crypto collection has more than 1400 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Convert Bitcoin to Monero?

Just go to StealthEX and follow these easy steps:

• Choose coins and amount you want to swap. For instance, BTC to XMR.
• Click the Start Exchange button.
• Provide the recipient XMR address to transfer your crypto to.
• Process the transaction.
• Get Monero into your wallet!

Follow us on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX.io and the rest of the crypto world.

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.