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  • Monero price on Tuesday was nursing losses of around 1%, in the latter stages of the session.
  • XMR/USD still somewhat depressed, ahead of the software update from the foundation.

 

The Monero price was nursing further losses on Tuesday. In the latter stages the trading session, seen down just some 1%. Price action across the crypto market is still muted, with a lack of firm direction observed.

XMR/USD has been generally softer over the past few sessions. The Monero community are awaiting a software update from the foundation. It is said that the updates will implement Bulletproofs and make the Monero platform ASIC mining resistant. Elsewhere, an expert from a panel within finder’s crypt report, he predicts XMR/USD to be at $140 for 1 November. Mr. Raczynski explains, Monero is still being used by most of the underworld, this is the quiet giant. At some point, until one of the big cryptos evolve their ‘privacy’ algo, this is a good bet.”

Bears have been maintaining applied pressure, after XMR/USD ran into heavy near-term supply around $115.80. Support to the downside is eyed at $113 and then further south at $112.20, a demand zone.

 

XMR/USD 60-minute chart