Monero Seen Up Soon
Monero (XMR) is down by 1.6% to $160.74, underperforming the broader crypto market, while Bitcoin (BTC) has gained 6.9% to $72,656. XMR's decline follows Kraken’s decision to delist the token for its European users, with any remaining XMR on the exchange set to be converted to Bitcoin at market rates by January 6.
This isn’t the first instance of Monero facing delistings, so there’s no immediate need to sell your XMR holdings. Price action shows signs of recovery, and a breakout from the current ascending triangle pattern could potentially drive prices 25-30% higher, signaling a promising rally ahead.
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