Monero (XMR) Price Takes A Dip, Long-Term Investing Is Still Safe
Monero (XMR) is ranked on the twelve spot on Coinmarketcap with a total market cap of $1,191,318,123 and a circulating supply of 17,224,270 XMR. Despite being ranked so high, Monero (XMR)’s price has recently dropped since it’s facing the bear. Yesterday was quite rocky for cryptocurrency investors who have placed lots of money in XMR but after all, this is the cryptocurrency that we are talking about and it shouldn’t come as a surprise. Nonetheless, let’s check out how Monero (XMR) did yesterday so that we can get a better ide of how the cryptocurrency’s price is going to look like during the upcoming days.
Monero (XMR) – Recent Behavior and Current Value
Monero (XMR) opened at $77 and the price quickly dropped to $75 by 2%. It didn’t take long for the cryptocurrency to make a comeback and the price surged by 2.30% making it $77. After going back to its initial price, Monero (XMR)’s price started falling once again and close the day at $75 with regression of 2.49%.
Today, Monero (XMR) opened with an escalation of 1.35%. The price counter was quickly changed from $75 to $76 and a couple of hours later, it dropped from $76 to $73 by 3.70%. The price made another come back but it didn’t last for a long time because the price is currently set at $69.14 by 3.23%.
Price Expectations and Final Words
From the looks of it, Monero (XMR) is having a difficult time in the market right now. However, this doesn’t mean that investing in Monero (XMR) is a bad idea and it’s exactly the opposite. If you are looking for a good long-term investment, then Monero (XMR) is the cryptocurrency for you. We also want to note that short term investments in Monero (XMR) are not a great idea right now.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.