Monero Classic (XMC), High Volatility and Rising Thursday: Is it Time to Cash Out?

Thursday, May 26, 2022 07:15 PM | InvestorsObserver Analysts

Monero Classic (XMC) has been relatively more volatile compared to the crypto market. So far Thursday, the crypto has gained 32.43% to $0.2288197874.

InvestorsObserver is giving Monero Classic a 93 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero Classic!

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Highly Volatile

InvestorsObserver gives Monero Classic a high volatility rank of 93, placing it in the top 7% of cryptos on the market.

The Volatility Gauge takes into account this makes its score defined by recent trends, rather than a bad day. XMC's high volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

Monero Classic price is trading near resistance. With support set at $0.136397213468451 and resistance around $0.245560438165564. This leaves Monero Classic with potential selling pressures ahead as it may be getting over extended.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.