XMR loses $2.1B in market cap – Trouble ahead for Monero?
Monero (XMR) experienced a sharp pullback after reaching an all-time high of $800, dropping to a local low of $657 and trading at $674 at press time. This decline resulted in a $2.1 billion loss in market cap, signaling significant capital outflows. The retracement was driven by profit-taking from both short- and long-term holders, alongside increased selling pressure and negative net flows in both spot and futures markets. Despite the downturn, some large investors opened leveraged positions, suggesting mixed expectations. Technical indicators like the RSI and Stochastic Momentum Index show increased bearish momentum. If selling continues, XMR could fall toward $518; however, a rebound may allow it to reclaim $754 and target new highs.
ambcrypto01/16 11:01
