Monero (XMR) Rises 3.47%, Outperforms the Crypto Market Friday

Friday, July 01, 2022 06:29 AM | InvestorsObserver Analysts

Monero (XMR) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Digital Money has added 3.47% to $113.81.

InvestorsObserver is giving Monero a 39 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 39, placing it in the bottom 39% of cryptos on the market.

The Volatility Gauge takes into account which means that one day won't define its volatility rank - a trend will. XMR's moderate volatility reading is paired 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 good position going forward. With support around $105.72 and resistance set at $116.86. This leaves 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.