Monero Price Analysis: XMR Fell On The 11th Spot On CMC – High Volatility Keeps Investors Away
As you already know, these days, we’ve been witnessing a lot of volatility in the crypto market.
Monero has been hit by this red, bearish trend as well and while the coin has been struggling really hard to recover, this seems impossible these days.
The coin fell from the tenth position on the 11th and it’s now trading in the red on CMC. XMR is currently priced at $78.67.
High volatility keeps investors away at the moment
It seems that regardless of the huge potential that XMR has, it will suffer to a great extent, according to the latest reports from CryptoNewsZ.
They write that “the unfavorable market condition will adversely impact its upcoming projects. Even the condition is not expected to improve before the end of this year rather; it can turn further worst.“
All in all, the overall trend of Monero seems to be highly volatile these days and investors are not advised to invest in the coin because it can trigger huge losses.
They must wait for the right time in order to put their money in XMR and this will be when the volatility will be reduced to a great extent, as the online publication mentioned above notes.
XMR got caught in a bearish trend
Just the other day, we were reporting that the coin got caught in a fall, and it’s been struggling really hard to come out of it.
XMR enthusiasts are waiting to see a more significant improvement in the coin’s price towards the end of this month.
CryptoNewsZ online publication advised readers the following:
“In such a scenario, we recommend holding the investment. It would be best to jump in the pool when the rally has embarked. This would help the investors to cut short the risk involved.”
Stay tuned for more Monero-related news.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
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.