Monero (XMR) Project Overview

31 Mar 2021

What Is Monero (XMR)?

Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.

The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users — irrespective of how technologically competent they are.

Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.



Monero (XMRBTC) Chart Analysis

Let's have a look at this chart on the daily timeframe for Monero (XMRBTC).

First, notice the left side of the chart...
We can see a strong bearish wave until early January 2021 at which point a potential low is hit.

We see a very strong bounce take place and finally end up in February, one month later, with a higher low.

We have prices consolidating and printing higher lows.

Now we are moving above EMA10 and the indicators are turning bullish...

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Namaste.

This is not financial advice.