Primecoin (XPM), High Volatility and Falling Tuesday: Is it Time to Cash Out?

Tuesday, February 08, 2022 12:27 PM | InvestorsObserver Analysts

Primecoin (XPM) has been relatively more volatile than the crypto market according to a recent analysis of the market. So far Tuesday, the crypto has fallen 51.25% to $0.05841327161.

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

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Highly Volatile

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

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. XPM's high volatility reading pairs 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.

Primecoin price is favorably positioned going forward. With support near $0.0211692250891259 and resistance at $0.089430058710151. This leaves Primecoin 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.