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Monero {XMR} price analysis for the day, BLOC GUI Miner v1.1.1 has added support for XMR

Monero is ranked at #10 on coinmarketcap and is preceded by Bitcoin SV and Binance Coin in the market. The price grew at a rate of 0.99% in the course of the past 24-hours. This brought XMR all the way up to $73.27 where it presently holds. The trading volume recorded rests at $81.296 million, while the supply has 17,205,971 XMR coins involved in circulation. One of the key privacy-centric projects, the total market cap of Monero is $1.260 billion.

Majority of Monero developers and founders remain anonymous to this day. A user who goes by the name xoinsotron on Reddit posted a query; he inquired what is the viable solution available for the community in the event of a hostile takeover. The best solution was provided by tempMonero123 who suggested that it being open-source is the best defense.

Constant monitoring conducted by XMR proponents can help observe contributions closely and report suspicious occurrences [prohit merging of code]. A fork may be the final answer if the ones in charge of merging codes have been compromised.

According to the data obtained from the candlestick chart connected to the XMR/USD pair on tradingview, the asset is still fluctuating. For the last 9 days, the MACD line has stayed north of the signal line. This has led to the histogram bearing the green shade. The Awesome Oscillator peak for yesterday was green, though the present one has been brown. I think that XMR may drop to $70 by next week.

The daily RSI is at 44.07 and resistance may impact the growth of the coin beyond $87. Monero is by far the project closest at incorporating the concept of decentralization.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.