Monero (XMR) has seen increased bull activity this week as investors look to add it into their portfolio. Known for its secure and private transactions, the coin has also seen major gains in the last 7 days, surging nearly 15%. We have also seen a surge in trading volume, suggesting more action by buyers. So, is Monero (XMR) a good bet for 2022? Here are some highlights first:
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Monero (XMR) has surged 15% this week, buoyed by increased bullish activity.
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At the time of writing, the coin was trading at $208.99, down 3% in intraday trading but still up for the week.
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The coin is expected to maintain this uptrend, with conservative estimates putting it at $260 by end of 2022.
Data Source: Tradingview.com
Monero (XMR) – price actions and prediction
As noted above, it’s been a decent week for XMR. The coin has followed the broader crypto market in reporting gains, surging 15% in seven days. But most analysts agree that there is enough gas in the tank to take XMR to even bigger heights in 2022. In fact, while conservative estimates are putting the coin at $260, most bullish analysts see Monero crossing well over $300 next year.
Besides, as the risk of regulations in crypto continues to grow in 2022, investors are more likely to flood towards private and secure currencies, including XMR. We are also expecting improved sentiment in the overall crypto market to push XMR even further into gains.
Should you buy Monero (XMR) in 2022?
Monero (XMR) has very good long-term potential. The coin has very positive outlooks for 2022, and the underlying fundamentals are quite decent as well. For long-term investing, the coin gives investors a good chance to unlock value. Also, XMR is expected to maintain its recent uptrend in the near term, also making a good bet for short-term gains.