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Monero (XMR) Price Prediction: Amidst The Levelled Movement; Monero Will Soon Be Removed from South Korean Exchange

Meta Data: The bearish trend in Monero is persistent. Nonetheless, the action in the coin is stable but flat.

Due to the fresh set of regulations imposed by Financial Action Task Force (FATF), the South Korean cryptocurrency exchange OKEx will remove support for five major privacy coins including Monero. FATF is an international watchdog organisation that looks after illegal financial transactions. Additionally, NASDAQ launched the XAI fund that will offer exposure to various coins to investors, including XMR.

Current Statistics (On September 16, at UTC 07:21):

  • The trading price of Monero against the US Dollar is 75.85 USD.
  • At the same time, Monero vs Bitcoin is trading at 0.00733055 BTC.
  • Additionally, the market capitalisation of the altcoin is 1,306,148,730 USD.
  • With an ROI of 2,967.89%, the total Monero chips circulating in the market are 17,210,853 XMR.
  • At the time of writing, the 24-hrs trading volume in Monero was 52,920,374 USD.

On August 21, Monero was trading at 84.86 USD. Nevertheless, in a duration of 25-days, it declined by a margin of 10.16%. Nonetheless, in comparison to the value of the coin 7-days back, on September 10, 2019 it was almost the same. The intraday trading has also been quite a fattish one, where the coin after opening at 76.07 USD closed the day 75.69 USD, with a slight decline of 0.5%.

The stability in Monero has continued for yet another day. As par our analysis, the coin will be trading around $150 by the end of the year. For now, the crypto is having a support level at 74.51 USD. Further, the immediate resistance is at 76.58 USD.   

The delisting of the crypto from OKEx will have a long-term aftermath for the coin. Additionally, the launching of a new fund by NASDAQ, especially having XMR listed on it, is consolidating news for the community. Overall, Monero is moving firmly in the right direction and the team of developers are doing great work keeping the long term prospect in mind.

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