Monero ($XMR) Crypto Forecast: Down 5.7% Today

What is Monero?

XMR is a privacy-focused cryptocurrency token known for its secure and untraceable transactions. The overall cryptocurrency market has been volatile today, with investors closely monitoring various developments in the industry.

Why is Monero going down?

XMR crypto is down 5.7% on Nov 12, 2024 10:52

• The integration of Monero usernames with Cake Wallet could have raised concerns about privacy and security among investors, leading to a bearish sentiment towards XMR.
• The news of Schneider Electric being hit by Hellcat Ransomware may have increased fears of cybersecurity threats in the digital asset space, impacting the sentiment towards privacy coins like Monero.
• The ransomware attack demanding a specific amount in cryptocurrency could have highlighted the vulnerabilities of digital assets like XMR, contributing to the bearish movement.
• Overall, the negative news surrounding cybersecurity breaches and ransomware attacks may have overshadowed the market, leading to a bearish trend for XMR.

XMR Price Chart

XMR Technical Analysis

XMR News

Unstoppable Domains integrates Monero usernames with Cake Wallet

The partnership allows Cake Wallet users to use .xmr domains in their blockchain interactions.

https://cointelegraph.com/news/unstoppable-domains-integrates-monero-usernames-cake-wallet

Schneider Electric Hit By Hellcat Ransomware In Data Breach

Schneider Electric Hit By Hellcat Ransomware In Data Breach

https://coincu.com/291014-schneider-electric-hit-by-hellcat-ransomware/

Hackers Demand $125K in French Bread in Crypto Ransomware Attack

Hackers Demand $125K in French Bread in Crypto Ransomware Attack

https://decrypt.co/290728/hackers-demand-125k-french-bread-crypto-ransomware-attack

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Monero Price History

12.10.2024 - XMR Crypto was down 5.7%

• The integration of Monero usernames with Cake Wallet could have raised concerns about privacy and security among investors, leading to a bearish sentiment towards XMR.
• The news of Schneider Electric being hit by Hellcat Ransomware may have increased fears of cybersecurity threats in the digital asset space, impacting the sentiment towards privacy coins like Monero.
• The ransomware attack demanding a specific amount in cryptocurrency could have highlighted the vulnerabilities of digital assets like XMR, contributing to the bearish movement.
• Overall, the negative news surrounding cybersecurity breaches and ransomware attacks may have overshadowed the market, leading to a bearish trend for XMR.

01.10.2024 - XMR Crypto was down 6.0%

• XMR experienced a bearish movement today due to heightened concerns over cybersecurity threats in the cryptocurrency space.
• The intensified Docker exploits by TeamTNT for cryptocurrency mining may have raised fears among investors about the security of XMR and other digital assets.
• This news likely led to a sell-off of XMR as investors reacted to the potential risks posed by such exploits, causing the bearish market movement.
• Investors may be cautious about the security vulnerabilities in the cryptocurrency ecosystem, leading to a temporary downturn in XMR's price.

18.09.2024 - XMR Crypto was up 5.1%

• Monero's price surged over 3% in the past 24 hours, reflecting growing investor interest in privacy-focused cryptocurrencies.
• The positive trend over the past week, with a 5% gain, suggests that investors may be looking for alternatives with enhanced privacy features due to concerns about surveillance and data privacy.
• The discussion around privacy tokens as a potential solution for financial freedom in a surveillance state may have contributed to Monero's bullish movement, as investors acknowledge the value of privacy-centric assets in a closely monitored financial landscape.

21.09.2024 - XMR Crypto was down 5.0%

• Japanese authorities dismantling a Monero-linked scam and arresting the organizers likely caused a negative sentiment around XMR.
• News of a significant crypto scam exposed via Monero data in Japan could have led to concerns about the security and legitimacy of the cryptocurrency.
• The decrease in Monero's value by more than 4% within 24 hours could be a direct result of the negative publicity surrounding the scam allegations and arrests.
• The arrest of crypto scammers in Japan, specifically related to fraudulent activities involving Monero, might have contributed to the bearish movement of XMR as investors reacted to the news with caution.

09.09.2024 - XMR Crypto was up 5.0%

• Monero faced delisting by Kraken in Europe due to regulatory pressure, causing an initial price dip below $140.
• Market sentiment shifted to bullish as investors speculated on Monero's future potential, resulting in a significant price increase.
• Conflicting price predictions for Monero, with some suggesting $200, added to market volatility and attracted bullish and bearish traders.
• The high delisting rate of privacy tokens in 2024 may have increased attention on Monero's regulatory challenges and its ability to overcome such obstacles.

03.09.2024 - XMR Crypto was up 5.1%

• Monero (XMR) experienced a strong bullish movement despite challenges such as delisting in Europe.
• The positive price action could be due to heightened investor interest in privacy-centric assets amid regulatory uncertainties.
• The market's response indicates continued community appreciation for Monero's core features as a privacy coin.
• An opportunity for investment is perceived by some as XMR's price dips below $140, leading to the upward momentum observed.

02.09.2024 - XMR Crypto was down 7.3%

• Monero experienced a significant bearish movement following an announcement to delist the cryptocurrency in the European Economic Area.
• The price drop of 6.55% can be attributed to the market reacting negatively to the discontinuation of support for Monero due to regulatory pressure.
• Regulatory demands and changes in the cryptocurrency landscape have contributed to the decline in Monero's price, causing it to fall below $150.
• The decision to end Monero support in the EEA has added to the uncertainty surrounding the cryptocurrency, leading to a bearish sentiment among investors.

02.09.2024 - XMR Crypto was down 6.0%

• Monero (XMR) experienced a significant bearish movement following a decision to delist the cryptocurrency in Europe.
• Regulatory pressure and changes have led to the delisting of Monero in European markets, causing a 7% drop in XMR's price.
• The delisting from a major exchange has raised concerns among investors about the future of Monero and its regulatory compliance.
• This event highlights the ongoing challenges faced by privacy-focused cryptocurrencies in navigating regulatory environments and maintaining their market presence.

02.09.2024 - XMR Crypto was down 6.7%

• Monero witnessed a notable downward movement today, with a decline of approximately 6-8%.
• The drop was instigated by Kraken's decision to delist Monero for its European users due to regulatory requests.
• The announcement by Kraken to cease Monero support in the European Economic Area affected market confidence, contributing to the price decrease.
• Ongoing regulatory challenges faced by privacy-centric cryptocurrencies like Monero are impacting their widespread adoption and market performance.

02.09.2024 - XMR Crypto was down 5.4%

• Monero (XMR) experienced a strong bearish movement today, dropping around 7% in value.
• The bearish trend can be attributed to a decision to delist Monero in European markets due to regulatory changes.
• Regulatory concerns and delisting by a major exchange likely led to a loss of confidence among investors, resulting in the significant price drop.
• The market's reaction highlights the impact of regulatory decisions on specific cryptocurrencies and the importance of compliance in the crypto space.

04.09.2024 - XMR Crypto was up 5.4%

• Monero (XMR) saw a strong bullish movement despite recent regulatory challenges and delisting by Kraken in Europe.
• Price predictions hint at optimism for Monero's future, possibly driving investor confidence and contributing to the bullish trend.
• The dip below $140 may have triggered a buying opportunity for investors, leading to the bullish movement.
• Despite Kraken's delisting in Europe, the market's response suggests that investors are still bullish on Monero's long-term potential, looking past short-term regulatory hurdles.

14.09.2024 - XMR Crypto was up 5.8%

• The bullish movement of XMR can be attributed to several factors:
• Growing concerns about surveillance and data privacy in a digital age have led investors to seek out privacy-focused assets like XMR.
• The increasing adoption of privacy tokens as a means of financial freedom in a surveillance state has boosted the demand for XMR.
• As regulatory scrutiny on traditional cryptocurrencies intensifies, investors are turning towards privacy tokens like XMR for a more secure and private transaction experience.