Monero (XMR) Falls 0.01%, Outperforms the Crypto Market Wednesday

Wednesday, August 17, 2022 06:00 PM | InvestorsObserver Analysts

Monero (XMR) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Digital Money has declined 1.48% to $167.92.

InvestorsObserver is giving Monero a 25 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero!

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Moderately Volatile

InvestorsObserver gives Monero a moderate volatility rank of 25, placing it in the bottom 25% of cryptos on the market.

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

Monero price is in a favorable position going forward. With support around $160.46 and resistance around $172.3. This positions Monero with room to run before facing selling pressures.

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.