Overview
- XMR has dropped roughly 42%–44% from its January 14 all‑time high near $798, trading in the mid‑$400s on January 26.
- The coin lagged major peers over the past 24 hours, falling about 4%–5% to under $460 and ranking among the weakest large caps.
- Derivatives data show more than $2 million in long positions wiped out in a single day, with open interest declining as leverage comes out of the market.
- Momentum indicators skew bearish, with analysts warning of a potential slide toward the January low near $413 and the 200‑day EMA around $383 if selling continues.
- Some technical analysis notes a break below roughly $411–$413 would confirm a deeper bearish trend, though brief rebounds toward $500–$510 are possible.