Things are still evolving in an interesting direction for Monero as of right now. Even though the altcoin has lost a small portion of its value over the past 24 hours, there is no reason to be concerned yet. With XMR still trading above US$21.5, reaching US$25 is still a very real possibility.
Monero Is Still on Course For US$25
The altcoin world has a habit of seeing days filled with frenzied trading, and days during which there barely seems to be any trading volume at all. Although there is still quite a bit of trading volume on the books for Monero, today seems to be a rather calm day. Then again, this could be the proverbial calm before the storm, which could make things quite interesting over the next few days.
In fact, it appears the trading volume for Monero looks quite healthy right now. Its USD volume is well above US$4.38m, which is extremely impressive at this stage.With the EUR volume surpassing 1.3m a swell, there is nothing wrong with that fiat currency side of things, that much is certain. For some unknown reason, this increased trading volume has no effect on the XMR price whatsoever.
To be more specific, XMR’s USD value has dropped by 1% over the past 24 hours. Considering the trading volume has grown exponentially these past few weeks, there is no reason for XMR to go down in value. Then again, cryptocurrency remains a very volatile industry, to say the least. Bitcoin’s value decline is not helping matters much either,that much is certain
Speaking of the bitcoin side of things for Monero, XMR gained 3.12% in value over the past 24 hours. Quite a significant change, even though it seems as if Monero is still losing value against bitcoin. The world of cryptocurrency has been quite strange, yet exciting at the same time. For now, there is no reason to believe XMR will not reach US$25 in the coming days.
Header image courtesy of Shutterstock