Monero Price Analysis: Will XMR Recover From The Bears’ Pressure?
It’s been revealed that the lead maintainer of the Monero project, Riccardo Spagni steps down, according to an official announcement.
The announcement is called “An update from the Core Team on some technical responsibilities.”
The official notes say the following:
“fluffypony is stepping down as the lead maintainer of Monero. Snipa will be taking his place. fluffypony will continue as a backup maintainer to relieve Snipa during times when he is busy or on vacation.”
The announcement continued and said: “fluffypony has served the Monero project well over its five years of existence, and he will continue to remain active in the community as a maintainer.”
Monero in the crypto market
Regarding XMR’s price, at the moment of writing this article, XMR is trading in the green, and the coin is placed on the 15th position on CMC.
The privacy-oriented coin is priced at $48.19.
NameCoinNews writes that “XMR coin was traded at $50.99 and soon dipped down to $48.64 within few hours on December 16, 2019. It moved at a slow pace and reached $49.55 before dropping back by 5.68% and reached $46.74 the next day. ”
The online publication continued and pointed out that after that, Monero coin again dropped to $44.069, and this was the lowest price recorded on December 18, 2019.
“XMR managed to recover from the fall as it showed a growth of 7.47% with prices touching $49.48. Shortly after the rise, it started to decline and at present, the bears seem to control over the coin,” the publication continued.
Traders should hold XMR at the moment
The same online publication mentioned above notes that it’s recommended to hold Monero for now.
It’s been also revealed that the MACD of Monero also points to the trend being below the zero lines. The coin has not been able to maintain a consistent performance.
Anyway, despite the massive volatility of the market, optimistic predictions regarding the price of BTC and other coins still pop up.
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.