XMR had an uphill struggle against Dash last week, which ended up in Dash taking the 12th spot in the crypto-rankings. The coin has declined by 12% in the past 7 days. Even with the addition of the new XMRwallet, the coin has failed to show its potential.

Monero [XMR] tries hard to retake the 12th position
Monero [XMR] is one of the many cryptocurrencies which has been on a decline since the start of the month of May. The coin dropped down to 13th position and has had a bearish week.

XMR is currently ranked at the 13th position in the crypto-rankings. It is priced at $202.04 as of 17th May, with a market cap of $3.24 billion. It has a supply of 16.04 million and an overall volume of $41.22 million. It has had a growth rate of 1.80 over the past day.

XMR had an uphill struggle against Dash last week, which ended up in Dash taking the 12th spot in the crypto-rankings. The coin has declined by 12% in the past 7 days. Even with the addition of the new XMRwallet, the coin has failed to show its potential.

The developers tried to enhance the coin by improving its security features. The coin outperforms most of the coins in terms of privacy features. Monero has features which make the users’ status fully private. It hides the address of the user and makes it impossible to trace the transactions. Monero is therefore known as the most private coin and is really popular in Asian countries like Japan and South Korea.

The developing team at Monero has constant updates to the coin. The other positive sign for the coin is that it can still get back to the 12th spot of the crypto-rankings as its market cap is only 0.8 billion behind Dash.

Joey, a Twitter user says:

“It’s been a rough month for cryptocurrencies when the prices will rise again Monero will retain its position and even reach the top 10 of the cryptocurrencies.”

Jermy, another Twitter user says:

“Fluctuations and prices decreases are common in all markets, once the market returns to normal the coins will return to its normal places except for a few exceptions, its the same thing for the cryptomarket as May happens to be the month where prices are declining, so investors need not freak out.” Source: ambcrypto

Monero Price Today

Monero (XMR) On a Journey of Breaking Barriers: New XMRwallet is a Dream Come True

Monero (XMR) is one of the true anonymous and untraceable cryptocurrencies in the market. Other coins and altcoins claim to offer privacy but most of them cannot be compared to Monero (XMR). The focus on privacy is one of the main features that make Monero stay relevant in the market. Monero has been gaining traction since the slide in price that engulfed the digital assets from the beginning of the year. Like most other virtual currency, Monero price is scaling the heights and battling to break the barriers to achieve the milestones it has set before the end of the year. Monero (XMR) predictions have shown that it could exchange at $650 by the end of the year while the 5-year prediction has placed the coin at $2,000.

At the time of writing Monero price is trading at $200 while the charts show that it is up over 4% in the last 24 hours. The cryptocurrency dipped to trade lows of $190, although it exchanged hands above $290 in April. The crypto has been trimming the gains gathered in the last one month. However, the recovery journey appears to be on track and besides, there is a general bullish trend in the market. The next target for Monero price on the upside is $216 and $230 respectively. Both of which will allow it to form support zones and gain the momentum to attack higher levels like $250 and $300.

New developments and upgrades have been known to keep the community active and renew the investor interest in coins. Such releases also affect the performance of cryptos in the market by increasing the appetite of the investor and the traders for the cryptocurrency. Monero team knows this very well and one of the events in their 2018 roadmap has been to launch a newly improved wallet. The wallet has been launched and features some of the latest designs in the market.

The anonymous XMRwallet is web-based, moreover, it hides the identity of the user just like the name suggests. Significantly, it has been designed to achieve some of the fasted transaction speeds even in the case of large volume transactions. XMRwallet core features include but not limited to complete client interface, fast transactions, multiple language support, compatibility with MyMonero, instant account creation, and compatibility with the original Monero seed, XMR/USD balance display, multiple seeds access and maximum function on send page.

The wallet has improved the privacy capability features and the speed of transaction has been improved massively. XMRwallet has been received with open arms with many users praising the new features. The ability to support 10 different languages makes it an international platform. Furthermore, the maximum send feature is one of the best innovations the cryptocurrency wallets have had to date. Users on various community pages have expressed their gratitude by saying:

“The doors are open and I am so happy to finally have a finished site for the Monero (XMR) community. It’s been a long 7 months of work but it is definitely a labour of love. I have been using www.MyMonero.com for over a year (thank you /fluffyponyza for the amazing service) and thought I could improve some aspects of the program and build out a bunch of cool new features. In case MyMonero is inaccessible, having a different Monero web wallet also helps with decentralization” Source: cryptorecorder

Monero price analysis: Breakout is almost here, can it shine?

Monero price on the verge of a falling wedge breakout.
Failure to do so would mean distribution.
Monero, which has been forming falling wedge on the short term chart, is now on the verge of a breakout and if confirmed and sustained, then it would only be a matter of time to scale past recent highs of around $300.

XMR/USD is up nearly 5 percent on day at $199.34, around day’s high of $201. For Monero to continue the momentum, it needs to cross past the upper end of the falling wedge trendline and sustain above $205-210 levels, which would then mean price could head all the way to $300 and beyond, which is where prices started correcting in this fall that started in end of April.

Strong resistance is exactly at the current market price and then around $209, supports around $195 and $186. Source: fxstreet