XMR/USD stays in a green zone even after the downside correction.
The strong support is located on the approach to $68.30

Monero (XMR) is in the green zone, gaining over 4.7% of its value on a day-on-day basis. Monero, now the 11th largest digital asset with the current market value of $1.2 billion is changing hands at $70.65 at the time of writing, off the intraday high registered at $74.69. 

Travala adds Monero to the list of payment options

A blockchain-based travel booking platform Travala now accepts Monero (XMR) as a payment option. It means that the platform customers are now able to use the coin to book hotels in over 210 countries and travel to 82,000+desitinations. 

Monero’s technical picture

On the intraday basis, XMR/USD retreated from the recent high reached at $74.69 and settled in the middle of $70.00-$71.00 range. Initial support comes at psychological $70.00, followed by 69.60 ( the middle line of 4-hour Bollinger Band). Once it is out of the way, the sell-off is likely to gain traction with the next focus on $68.30 (a combination of SMA50 (Simple Moving Average) and SMA100 1-hour).

On the upside, a strong resistance awaits the coin on approach to the recent high. It is strengthened by SMA200 and the upper line of 4-hour Bollinger Band on 1-hour chart.

XRP/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin’s majestic rally to $400,000

Bitcoin has been in a lull for more than two weeks apart from the brief rally that catapulted it to levels above $9,400 on Thursday. On the downside, the largest cryptocurrency has established support at $9,200. 

More Bitcoin News

Ripple Price Prediction: XRP/USD ultimate rally to $0.30 impends

Ripple performed incredibly well this week, shifting attention back to the major cryptocurrencies. Bitcoin tried to follow the rally but was held back by the resistance at $9,450. Ethereum recovered significantly ...

More Ripple News

ETH/USD bullish scenario, why $250 and $280 are within reach?

Ethereum recovery towards $250 was recently cut short at $245. The price started to narrow down towards $240 again. At the time of writing, ETH/USD is trading at $240.50 amid a sideways trading action.

More Ethereum News

Stellar Price Analysis: XLM/USD bears look to negate Thursday's gains

XLM dropped from $0.0906 to $0.0868 so far this Friday as the bears took control following four consecutive bullish sessions. The price has dropped below the $0.09-level and is looking to fall back ...

More Stellar Lumens News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast