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

Wednesday, January 12, 2022 06:37 AM | InvestorsObserver Analysts

Primecoin (XPM) has been relatively more volatile when compared to other cryptocurrencies. So far Wednesday, the crypto has dropped 44.3% to $0.06898497009.

InvestorsObserver is giving Primecoin a 95 Volatility Rank. Find out what this means to you and get the rest of the rankings on Primecoin!

See Full Report

Highly Volatile

InvestorsObserver gives Primecoin a high volatility rank of 95, placing it in the top 5% of cryptos on the market.

The Volatility Gauge takes into account this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. 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 in a good position going forward. With support near $-0.0119630245303812 and resistance at $0.172041323241025. 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.