Monero Price Analysis – Surging past US$19 In Spectacular Fashion

It is safe to say the world of bitcoin and cryptocurrency is very unpredictable. No one knows for sure how prices of individual currencies will evolve as time progresses. For Monero holders, things are looking extremely well right now, as the value per XMR surpassed US$19. Quite a significant gain compared to a day ago, and things may continue to trend upward the rest of the week.

Monero is Taking Off Like A Rocket

Rest assured every Monero holder will be more than excited when looking at the current price per XMR. Just 24 hours ago, it appears Monero was well on its way to hit US$16, which would have been a very nice achievement in its own right. Lo and behold, the price went a lot higher than that and is currently hovering around the US$19 mark. A spectacular price trend, to say the least.

This change represents a 25% gain over the past 24 hours, which is nothing short of amazing. While a lot of people keep an eye on Bitcoin and Dash right now, Monero is getting some of the recognition it deserves as well. The demand for anonymity-oriented cryptocurrencies is not waning by any means, even though sue cases for XMR remain somewhat limited besides using it for darknet purchases right now. Then again, that situation may come to change over time.

Monero is also continuing its trend in the fiat currency markets. The USD trading volume sits at US$1.73m over the past 24 hours, which confirms the trend that started a few days ago. The EUR market is falling behind a bit, yet still brings in 929,000 EUR over the past day. Reaching that 1m EUR threshold remains elusive for the time being, yet it may only be a matter of time until that “ceiling” evaporates as well.

On the bitcoin front, things are looking stellar for Monero. With a 23.63% gain in the past 24 hours, XMR is now valued at 0.01575 BTC. Keeping in mind how bitcoin successfully sustains its value around the US$1,220 mark for now, Monero reaps the benefits of this trend with relative ease. It is unclear what is next for Monero, albeit it seems evident the price will continue to keep going up as time progresses. Reaching US$20 is not out of the question right now, that much is certain.

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