Yet another day of XMR trading is in the books, and it appears there have been some minor profits along the way. The value per XMR has increased to US$21. 83, which is a small step up compared to 24 hours ago. There is some downward momentum across the charts right now, though, but it appears things will stabilize before continuing to head upward.
More Positive Trends For Monero
Anyone who holds Monero as part of their cryptocurrency portfolio will be pleased with how things are going right now. There have been no spectacular losses over the past few days, yet it appears there is still some room left for upward momentum. In fact, the XMR value has been increasing slightly over the past few days, bringing us to where we are today.
Looking at the numbers, a value of US$21.8 per XMR is not bad at all. Especially when taking into account how bitcoin has been gaining a lot of value over the past few days. Then again, Monero has proven to be quite the resilient altcoin, as it not only successfully maintained its value but even managed to appreciate over time. An interesting turn of events that much is certain
Even though it would seem fiat currency trading markets are irrelevant to the XMR price, it is always worth taking a look at how things are evolving. The USD trading market sits just above the US$500,000 mark right now, which is lower compared to a few days ago. Unfortunately, it appears the EUR market is all but drying up, with just over 65,000 EUR worth of trading volume over the past 24 hours. Then again, this is not affecting the XMR price in a negative manner, at least for the time being.
Most traders keep a close eye on the XMR/BTC market, that much is certain. So far, it looks like things remained unchanged in this department. One XMR is still valued at 0.01765 BTC, indicating Monero has a difficult time pushing through to 0.0185 BTC as of right now. It will be interesting to see if the altcoin can successfully break through this barrier in due time, though. As long as the XMR/USD rate continues to go up, there is no real need to do so. Then again, most traders want to increase their bitcoin holdings first and foremost.
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