Monero {XMR} is rising; Nick Szabo advocates privacy-conscious digital currency, including price prediction

Monero ranks 10th south of Bitcoin SV on CoinmarketCap. The price has risen sharply at a rate of 3.88% over the past 24 hours. This brought XMR to $ 78.67 where it currently stands. The trading volume is $ 67.014 million while the offering has 17,193,928 XMR coins in-game. Currently, Monero’s total market cap is $ 1.352 billion.

Among many things that are affecting crypto prices, these are the ones that stand out recently:
a. As parts of the globe slide into recession, short-term speculators tend to sell. Affects Bitcoin, but affects alts more heavily.
b. Recessions increase the financial risks and lead to a safe entry into Bitcoin & Monero.

– Nick Szabo @ (@ NickSzabo4) September 5, 2019

Data from the XMR / USD trade view chart suggests positive momentum that has been driving Monero so far. It has entered the overbought zone as the 4 hour RSI is close to hitting the 80 mark. For the past 7 days, the MACD line has ventured north of the signal line, showing interest from buyers.

Resistance is felt near the $ 79.7798 level while support is near the $ 71.396 level. The last two spikes for the Awesome Oscillator were green, indicating that buyers are responsible for controlling the pace of that currency.

Someone published the Top 100 Monero Rich List.

The third one will blow your mind! Https://t.co/jHHonfSQa8

– binaryFate (@ binaryFate01) September 5, 2019

While Monero isn’t listed on tons of exchanges, IDCM and BW.com currently account for more than 45% of reported trading volume. KYC and AML compliant networks have to keep rethinking before listing XMR on their platform as lawmakers consider this company a coin primarily used for illegal arms deals, drug purchases, etc.

Statistically, that’s not true. Bitcoin is used as a common payment method on the Darknet, and most nefarious money transfers are the king’s coin.

About the post author

Abigale Lormen

Abigale is a Masters in Business Administration by Education. After completing her studies, Abigale jumped into journalism as a freelance journalist. Shortly thereafter, she got a job as a reporter and has since climbed the ladder of the news industry to become editor of Our Bitcoin News.