After a positive 2021, we should start thinking about 2022 and the positive things that this year could bring to Monero (XMR) and other virtual currencies. In this Monero price prediction for 2022, we will go through the details of this virtual currency and why this coin could play a more relevant role in the industry.
Let’s not forget that Monero is one of the oldest cryptocurrencies in the crypto space and it is one of the largest virtual currencies in the world. In the next sections of this XMR price prediction, we will discuss the most important topics that could have an impact on Monero’s price in 2022.
Disclaimer: the information shared by AltSignals and its writers should not be considered financial advice. This is for educational purposes only. We are not responsible for any investment decision you make after reading this post. Never invest more than what you are able to lose. Always contact your professional financial advisor.
What is Monero (XMR)?
Monero is popular thanks to its privacy features. Indeed, this digital asset is now considered to be the largest privacy coin in the world. As we already know, when we send or receive Bitcoin (BTC), Litecoin (LTC) or Ethereum (ETH), all the information about the funds transacted is publicly available to everyone.
Moreover, all the data about previous transactions and movements would be available for everyone as well. This is something that harms privacy and affects the way in which peopñle and companies perform transactions using blockchain technology and digital assets.
Instead, Monero protects all the information of the person sending and receiving a transaction. Despite the fact that Monero’s network is publicly available for everyone (you can use it at any time), it is not possible to see all the information about transactions and users’ accounts. This is why it is very important for users to know that Monero offers better privacy features than Bitcoin, Ethereum or Litecoin, among others.
In this way, only you and the person transacting with you will know about that specific transaction. Instead, with other digital assets, the information would be publicly available. Additionally, this data could be linked to your identity or IP. Blockchain trackers could get detailed information about your financial movements and other data.
Monero (XMR) Fundamental Analysis
Let’s now continue with our fundamental analysis of Monero (XMR), the largest privacy coin in the world. We need to take into consideration that privacy has been negatively affected in recent years. COVID-19 and the advancement of new technologies made it possible for governments to take control of citizens’ data and privacy.
This is why Monero could have a bright future if people start embracing it. XMR could become the digital asset to process transfers if you want to remain protected while making payments or managing your funds.
The next few years could be very positive for Monero in terms of adoption. People are realizing that their privacy is very valuable and that they should not give it away so easily. Let’s not forget that Bitcoin, Ethereum and Litecoin are controlled by blockchain analysis firms.
However, there are also some risks to Monero that are worth taking into consideration. Due to the fact that governments know how Monero works, It might be possible for them to decide to ban XMR. Privacy coins could be heavily affected if that happens, meaning that Monero’s price could move downwards if that happens. Hence, it is certainly necessary to analyse the market and the decisions that governments could take in the coming years.
Monero (XMR) Price Analysis
Let’s now move to our Monero price analysis and understand what could happen to thai virtual currency in the coming years. As you might know, XMR is among the largest and most popular digital assets in the world. No matter what happens to the market, XMR would be one of the coins with the largest trading volume.
We will get into the details of what could happen in 2022, 2023, 2024 and 2025. AltSignals’ analysts have been working not only with Monero but also with other virtual currencies in order to be able to understand what could happen to the price of this coin in the coming years.
It is also worth mentioning that this is not financial advice. This is for educational purposes only. Remember that we cannot predict the future and that virtual currencies are extremely volatile.
Monero (XMR) Market Price Prediction
These are some of the things that could happen to Monero in the coming years.
Monero (XMR) Price Prediction 2022
When it comes to Monero’s price for 2022 there are some things to point out. As per AltSignal’s analysts, XMR is currently set up for a massive bullish wave very soon. As they explain, we are currently experiencing a double bottom and we see some strength from buyers that want to push the price higher. However, the best place would be the bigger double bottom at the $120 price level.
Double bottoms are very good ways to detect bottoms and changes in the trend of an asset. In this case, AltSignals’ analysts are waiting for a confirmation of this larger double bottom before entering a position.
2022 could start with a breakout of XMR of the descending black trendline. This could become the confirmation trigger. Users could see the current double bottom as an opportunity or wait until the larger one to get completed. In the long term, it might be possible for Monero to move towards the $315 to $500 region.
This is something that could happen in early 2022. Then, a bull market could continue throughout 2022 and see how this could affect the entire performance of this digital asset.
Monero (XMR) Price Prediction 2023
When it comes to Monero’s price prediction for 2023, we should also have a look at different factors. The most important one is related to how XMR behaved throughout 2022. A bull market in 2022 would push the market lower in 2023. This is because the crypto market works with cycles. Let’s not forget that if that happens the crypto market would have already been three years in a bull trend.
Hence, 2023 could be the year of a market correction. Instead, if 2022 was not bullish, then 2023 could be a continuation of the bear market that we could see in 2022. But remember, this is simply trying to understand what could happen to the market.
Monero (XMR) Price Prediction 2024
As it happened with 2023, 2024 would rely on the previous year. Each year is not isolated but it responds to different processes that take place during years rather than just days. In this case, we could see Monero recovering in 2024 (if 2023 was a bearish year) or starting a new bull trend (if 2023 was the year of recovery).
This could let us think about Monero moving higher during 2024, or at least starting a new bull trend that would push the price of the digital currency higher. How high? This is something that we cannot predict. It would highly depend on the strength of the bull market.
Monero (XMR) Price Prediction 2025
We finally have to understand what could happen in 2025. This could be a very positive year. If we follow the traditional crypto cycle, we see that 2025 could simply be a bull market for Monero. This could help Monero’s price to reach new highs and allow it to continue moving higher in the future.
The market is very volatile, hence, it is not possible to predict to the detail the bull market and how high it could go. However, it is highly possible to see Monero moving higher this year. It is also very important to follow and understand Monero’s fundamentals as well.
How to Buy Monero (XMR)?
These are the steps that you can follow in order to buy Monero (XMR) using a cryptocurrency exchange.
Step 1: Search for a Cryptocurrency Exchange and Open an Account
The first step that you have to follow is to search for a cryptocurrency exchange and open an account. This is a basic thing that you have to do if you want to buy Monero and get exposure to the cryptocurrency market. Opening a cryptocurrency exchange account should take just a few minutes depending on the type of platform that you have selected.
Moreover, you should also make sure that you search for a cryptocurrency exchange that is available in your region and that would let you get access to many other services. Nowadays, crypto exchanges are not just about trading but about interacting with the whole cryptocurrency market.
Step 2: Deposit Funds
The second step would require you to deposit funds at your local cryptocurrency exchange. This would let you buy the XMR coins that you want. Most exchanges have already added different payment methods. For example, you can deposit funds using a debit or a debit card. Some platforms would also let you send funds through a bank transfer.
In some cases, exchanges would let you buy XMR directly with fiat currencies. This would be the best thing for you. The funds will be credited to your account as soon as the transaction is confirmed.
Step 3: Buy Monero (XMR)
Finally, you can now buy Monero using the funds that you have previously deposited. This would let you buy XMR using the crypto exchange or a simple buy functionality offered by the crypto platform. If you want to trade XMR, then, the best thing is to use the exchange.
If you prefer to buy Monero and hold it for a longer period, then you can buy it through the simple option without passing through the exchange. If you use the exchange, you can use a market order (that would let you buy XMR at the best available price) or a limit order, which would let you select the price at which you want to buy XMR:
Frequently Asked Questions (FAQ)
These are some of the most frequently asked questions about Monero that we will answer in just a few lines.
What is Monero?
Monero is the largest privacy coin in the cryptocurrency market. It was released in 2013 and it offers privacy solutions to those cryptocurrency users that want to protect their privacy. For example, the transactions would not be publicly available as it happens with Bitcoin or Ethereum. This is one of the main advantages of XMR.
Difference Between Monero and XMR
Monero is the blockchain network that hosts the XMR digital asset. However, you should know that most of the time, people use Monero and XMR interchangeably. If you said that you bought Monero, everyone would know that you are talking about XMR.
Where Can I Buy Monero (XMR)?
You can buy Monero at online cryptocurrency exchanges. This is the best thing you can do if you want to have fast and reliable access not only to Monero but also to other digital currencies.
