Monero Price Analysis: XMR Stays Above The $75 Level

Not too long ago, it was reported that the price forXMR was supposed to rise this month.

But, according to the latest charts, it seems that the downward pattern has not been broken yet.

XMR’s volatility has caused the privacy-oriented coin to be unstable.

The whole crypto market has been showing signs of strong volatility for a few weeks now.

Cryptopolitan online publication writes that “The relative strength index (RSI) is bullish in the short term, as it moves closer to the mark labeled seventy (70). The problem lies with the five (5) day interval where the RSI is not as promising.”

Monero also fell on the 13th position on CMC after it had previously managed to climb on the tenth place.

Monero in the news

Monero was recently in the news after the latest reports claimed that OKEx had delisted all privacy coins including XMR.

Just a couple of days ago, we reported that crypto exchange OKEx, the unit from Korea, decided to delist all privacy coins including the following: Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC).

Theblockcrypto.com reported that the transaction support for these coins would end soon, more precisely on October 10 and the withdrawal services will end on December 10th.

The official announcement came from OKEx Korea.

According to the exchange, this decision has been made because these coins are violating the Financial Action Task Force (FATF’s) “travel rule.”

The online publication mentioned above noted that back in June, “the FATF, the global money-laundering watchdog, issued its final crypto guidelines, retaining “travel rule,” which requires exchanges to collect and transfer customer information during transactions.”

It’s also worth noting that the online publication was wondering whether more exchanges will follow suit and also delist Monero and more privacy-oriented coins for the same reason.

Other than this, interest in Monero had been surging this year due to the strong privacy features of the coin.

At the time of writing this article, XMR is trading in the green and the coin is priced at $75.10 on CMC.


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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