Monero (XMR) Rises 1.39%, Outperforms the Crypto Market Tuesday

Tuesday, September 27, 2022 01:45 PM | InvestorsObserver Analysts

Monero (XMR) has been relatively less volatile when compared to other cryptocurrencies. So far Tuesday, the Digital Money has increased 1.39% to $146.55.

InvestorsObserver is giving Monero a 23 Volatility Rank. Find out what this means to you and get the rest of the rankings on Monero!

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Low Volatility

InvestorsObserver gives Monero a low volatility rank of 23, placing it in the bottom 23% of cryptos on the market.

The Volatility Gauge tracks this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. XMR's low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Monero price is trading near resistance. With support set at $140.98 and resistance set at $147.11. This leaves Monero 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.