Monero (XMR)’s Price Struggles To Surge – The Privacy-Oriented Coin Lingers Above $80

Not too long ago, Monero has been showing great attempts to hold on to its positive trend despite the volatility of the market.

But, according to the CryptoNewsZ the market conditions are not favorable, and this means that XMR is not able to provide the necessary support that the coin needs in order to be stable.

In a recent article, they explain the XMR situation at the moment.

At the moment of writing this article, the privacy-oriented coin is trading in the green on CMC and it’s priced at $81.88.

BTC is also reportedly really erratic and turbulent, and many coins including XMR are at risk to lose a massive portion of their value to BTC.

XMR liquidity is high

The online publication mentioned above also notes that the liquidity of Monero is also high at the moment.

The analysis made by the online magazine concludes that although XMR makes huge efforts to have a strong grip over the bullish trends but “it will always be succumbed to decline often as the market is highly volatile at present.”

The conclusion offered by the online publication is: “Therefore, one should not consider investing in XMR currently and must wait for the right time until the market condition improves.”

Monero just received support from Nick Szabo

Cryptographer Nick Szabo just said that for privacy, Monero is much better than Bitcoin, and he encourages people to use it.

It’s also worth mentioning that not too long ago, crypto enthusiast Max Keiser revealed the fact that he’s pretty certain that Monero will gain the position as a market leader.

He believes that this will happen sooner rather than later. He believes that XMR can solve fungibility issues that are plaguing Bitcoin.

The whole crypto market suffered a pretty tough correction lately following the bulls that came a while ago.


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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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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