Monero Maintains The Negative Trend – XMR Struggles Below $46 – Hold Your Coins

In a bloody crypto market in which BTC managed to fell below $7,000, most digital assets are losing value as well.

Monero falls on the 15th position on CoinMarketCap

Monero seems to be maintaining the negative trend as compared to the price from the previous days.

According to more crypto experts, the coin is likely to fall even more and may reach its next support of $48.

At the moment of writing this article, XMR is trading in the red and the privacy-oriented coin is priced at $45.76.

The coin also fell on the 15th position on CMC.

Namecoinnews.com writes, “We advise to hold Monero as per the movement noticed. As per the current trend, XMR might breach its crucial support $48 in the upcoming days. If we look at the last 16 days’ performance, the coin has seen several rises and falls without any drastic change.”

Since back on November 30th, Monero has not risen above $55, back then, the coin hit around $56.30 and went as low as $52 since then, and now, it hit new lows.

As we’ve reported earlier today, Bitcoin might see another massive fall, and the coin might even reach $6,000 according to some voices in the crypto space.

Monero in the news

Despite the fall in price, Monero has been gaining a lot of interest from more crypto enthusiasts this year.

People understood the importance of privacy, and this was one of the reasons for which XMR has been seen as a great choice for investment.

In other news, it’s been recently revealed that the Monero Compliance Workgroup stated that the Monero network is not subject to the U.S. Financial Crimes and Enforcement Network (FinCEN) guidelines regarding the Funds Travel Rule.

You should check out more about this subject in one of our previous articles.

Other than this, there are also various optimistic crypto predictions floating online for 2020, despite the massive volatility that’s plaguing the crypto market.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

2164 Articles

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BitStarz

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