Monero (XMR) is the leading privacy coin, and it holds a weight of 46.9%. At the moment, XMR managed to surge by 50% in 2019 which is pretty impressive after the bearish market that dominated the whole 2018.
We recently addressed the main potential forces that are driving Monero’s popularity, and you can check them out in our previous article. Monero (XMR) keeps facing a lot of downside risk at the moment and this is because Bitcoin price surges which causes the Monero component of the crypto pair XMR/USD to be sold a lot during the past weeks.
SeekingAlpha says that this move is definitely killing any hopes of an immediate recovery for the price. They made an analysis that’s focused on the expected market action for XMR/BTC in the future weeks.