Citing Bijié Wǎng, Monero (XMR) fell 8.5% in 24 hours, marking a sharp reversal after months of strong performance. The decline reflects profit-taking and a waning interest in privacy coins. Despite the drop, XMR still gained 6.8% weekly and 129.5% since December 2024. The broader market's risk-averse sentiment and Bitcoin's stagnation since October have also contributed to the pullback.
Monero Price Falls 8.5% Amid Profit-Taking and Weaker Privacy Coin Momentum
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Summary
Monero (XMR) dropped 8.5% in 24 hours, according to Bijié Wǎng, as the fear and greed index shows growing caution. The decline follows months of gains and reflects profit-taking in the privacy coin sector. XMR still rose 6.8% weekly and 129.5% since December 2024. Broader market jitters and Bitcoin price today remaining flat since October have also weighed on momentum.
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