Monero Price May Very Well Surpass $150 Today

There have been some major Monero price movements over the past 12-16 hours. As mentioned yesterday, it appeared the XMR price was heading toward US$100, but it eventually surpassed that mark by quite a margin. Right now, one XMR is valued at US$124.69, indicating there has been another 26.88% price increase in the past 24 hours. This has nothing to do with the Bithumb exchange necessarily, as its Monero trading market still hasn’t opened at this point.

Monero Price Broke $125 Earlier Today

It has been quite the wild ride for Monero holders over the past week. After a sudden price jump across the exchanges earlier this week, a lot of people were confused as to what was going on. With a second price jump taking place last night, the confusion is only growing. It seems this is about more than mere price speculation related to the upcoming XMR listing on the South Korean Bithumb exchange. Do keep in mind the expectations are high for this market right now, yet things could head in either direction at this point.

To put this into perspective, Monero only has US$160 million worth of 24-hour trading volume. Most of this volume is a result of the recent price spike and not a contributing factor, mind you. Earlier this morning, XMR hit 0.0295 BTC on Poloniex at a time during which the market’s total trading volume was still below US$100 million. It is evident a lot of people have developed a case of FOMO and wish to board the train before it comes crashing down. That is assuming the Monero price will correct itself, which may not necessarily happen anytime soon.

If there is one valid lesson in all of cryptocurrency, it is that investors should never buy at the top whatsoever. Although the Monero price seemingly has no top right now, it is evident there will be a lot of resistance on the charts moving forward. Then again, there are fewer XMR in circulation compared to bitcoins, which could yield some interesting results over time. The market cap of Monero is also growing quickly and is well positioned to surpass the US$2 billion mark in the coming hours or days if this trend keeps up. All of this is occurring with a rather low trading volume, mind you, which is pretty significant.

One area that could be quite disconcerting is that nearly half of all Monero trading volume comes from the Poloniex exchange. Bittrex and Bitfinex still complete the top three, just like they did yesterday. Unfortunately, the Monero price momentum seemingly relies heavily on how Bitcoin is doing. Although the Bitcoin price isn’t doing bad by any means, a major correction could send all other altcoins spiraling downward. It is unclear what the future price direction will be for XMR, but rest assured there is a lot of excitement right now, for obvious reasons.

Considering that the Korean Bithumb exchange could easily double or triple this trading volume when the market opens, a lot of interesting things are bound to happen for Monero. The chart could turn even greener or go deep red in the coming days; no one knows for sure right now. It is equally possible that Monero would become more valuable than Dash in the coming weeks, which would be a very spectacular development, to say the least. Right now, all anyone can do is speculate and hope for the best. People who sold their XMR before this price surge will be quite disappointed with themselves, but such is the life of a cryptocurrency trader these days.

All things considered, the Monero price increase is well overdue at this point. For the longest time, this currency hovered around the US$20 mark until it finally moved up to US$35 earlier this year. This sudden growth will eventually come at a price, but for now, it is unclear how high the value can go. Caution is advised before getting swept up in all of this momentum, though. There is room for major profits, but also for even bigger losses, depending on the time of one’s purchase and future expectations. Monero is certainly stealing the show right now, so to speak.

  • George Layfield

    Getting absurd at this point… 300% increase in less than a week because of crazy korean trading again. (BCH, XRP flashback)

    • emptiness

      I think that in the case of Monero it is worth evaluating, weeks and months backwards, many people pointed out that Monero is undervalued and compared to it with dash performance. The others you have been mentioned hard to judge, I did not pay attention to them

      • Pathuge

        I also share this view

      • Arslada

        Yes, I recommended buying Monero as well. Now we all can see that Monero really gets more interest from the world and for Monero this means that his price will continue on his way up.

    • MatrixMan

      BCH and XRP was just a korean buying frenzy as you say. Monero however was highly undervalued for a long time so the increase in price might be natural.

  • Wow its true, thanks for the tip, I bought then trade at your expected highest price. I earned 😉

    • godfish

      Buy some more and HODL, man 😉

      • Qualified Expert

        How long to hold ?
        after Segwit V2 this November 2017 ?

      • Nah, i will look for other coin, reading some more news.

  • george_M

    Does it seem that the price could still rise what you think? Does it make sense to sell or wait?

    • Pathuge

      I would have bet on yet another growth, but caution is never enough. 1/3 I have a long-term investment. Another 1/3 on long-term trends, I still hold and the last 1/3 I sold today and I’m waiting for correction, where I buy again

      • emptiness

        This is a very reasonable approach, I have set my trades similarly

      • george_M

        thanks for advices!

  • Jansfot

    The movement is fast, but in the case of Monero in the right direction, it’s like when people in the past believed that the days of bitcoins are in the end. When it was $100 it was too much, as well as when it reached $1000, and today when it’s almost $4500, there’s just the same comment that it’s not possible

    • godfish

      I doubt Monero can beat Bitcoin since it turns into a virtual gold that people won’t use as a currency. However, Monero is the one that will be used for daily private, secure and swift payment, hence it price simply must grow.

      • Jansfot

        I did not mean that Monero is offsetting the bitcoin price. I just used an example for bitcoin, for the current development of Monero’s price, and that we are again hearing the same comments as we had previously heard about bitcoin

    • Qualified Expert

      When the price of BTC is too high, then what’s it going to be used for ?
      Imagine if the Government ban it, it may go even higher, but we cannot use it since it is banned anyway 😐

      • Jansfot

        don’t be afraid, governments still can do nothing. How they could ban our transaction? They can only exert pressure on institutions that receive and pay in bitcoins in terms of AML and KYC. Higher price will ensure you savings for the future. Why save money in mutual funds and have money in banks when there is a much better alternative?

  • Pathuge

    It is true that this last increase, I’ve been caught a little unprepared, I wanted to buy a little less expensive in the correction.

    • emptiness

      Sometimes it happens that man does not catch up in time, but this may not be over yet.

    • hairyfairy

      This is not the end of the growth but don’t waste your time.

  • Jansfot

    I’m looking forward to what JP Buntinx mentioned in his article “It is equally possible that Monero would become more valuable than Dash in the coming weeks…”

    • emptiness

      It would have been a big raise ahead of us if the Monero price would to catch up with Dash

      • Jansfot

        you’re right it will

      • godfish

        Monero beats Dash for sure. It is just a matter of time.

        • Qualified Expert

          But DASH is accepted by Apple 😮 ?

  • george_M

    Does anyone know when XMR will start trading on bithumb?

    • Qualified Expert

      OK, so this is the Korean Exchange that will be trading with XMR soon ?
      few weeks ago, it inflates XRP heavily.

    • emptiness

      I guess tomorrow

  • george_M

    does it meen that Monero price could jump higher after trading is allowed on bithumb?

    • Pathuge

      it’s possible of course we’ll see

    • godfish

      For sure. The more options to trade and use Monero, the higher the price is. It is still at the edge in that way and better known altcoins take advantage of that. When more people gets information about it, the demand will grow.

    • hairyfairy

      I am bullish on Monero. Thanks to the rapid growth it became widely popular and many people will jump in. So don’t waste your time.

  • Qualified Expert

    Between DASH and MONERO, which one is better to invest this year for long term ?

    • godfish

      Monero. Definitely.

      • Qualified Expert

        Thanks Godfish 🙂

    • MatrixMan

      I’m going for Monero. Dash is just another generic altcoin, whereas Monero is unique since it provides untraceable transactions by default. Monero thus have much higher potential in my opinion.