Monero (XMR) stands out as the top-performing altcoin among the top 100 cryptocurrencies in the past 24 hours. While most altcoins are consolidating after last week’s double-digit gains, Monero has maintained steady growth. Currently trading at $201.75, XMR has risen by 2%, capturing traders’ attention.
Monero Gains Slightly, But Bullish Sentiment Grows
Recent market trends show that XMR is benefiting from bullish momentum despite low buying pressure. According to the funding rate—an indicator of market sentiment in the derivatives space—Monero shows a 0.14% positive funding rate, signaling that long positions dominate.
This bullish sentiment is echoed in its Weighted Sentiment, which measures public perception. Positive sentiment suggests growing optimism, hinting at increased demand for the privacy-focused altcoin.
XMR Price Prediction: Heading Higher?
The Bull Bear Power (BBP) indicator on the daily chart suggests that bulls are currently in control. Although XMR’s price recently dipped from a high of $222.44, the ongoing momentum may reverse this trend.
If bullish activity holds, Monero’s price could climb to $227.48 or higher. However, failure to sustain the critical $201.30 support level could result in a decline to $186.64, potentially ending its reign as the top altcoin performer.