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<\/p>\nJournalist<\/p>\n<\/div>\n
\nPosted: December 31, 2023 Monero [XMR]<\/a> has dipped by almost 10% in the last 24 hours following OKX\u2019s decision to delist 20 trading pairs, including the prominent privacy coin.<\/span><\/p>\n In an announcement<\/a> on the 29th of December, the leading exchange noted that it had decided to delist the trading pairs because the crypto assets \u201cdo not fulfill our listing criteria.\u201d<\/span><\/p>\n Other assets impacted by this move include Kusama [KSM]<\/a>, Flow [FLOW], Just [JST], Kyber Network Crystal [KNC], Aragon [ANT], Fusion [FSN], ZKSpace [ZKS], Capo [CAPO], PowerPool [CVP], Dash [DASH], ZCash [ZEC], and Horizen [ZEN].<\/span><\/p>\n At press time, XMR exchanged hands at $165.48. With a 6% price decline recorded in the last 24 hours, the coin ranked as the third asset with the most losses during that period, according to data from <\/span>CoinMarketCap<\/span><\/a>.\u00a0<\/span><\/p>\n As observed by its price performance within a 12-hour chart, XMR\u2019s value drop was due to a decline in accumulation among traders. At the time of writing, key momentum indicators were pegged below their respective center lines.<\/span><\/p>\n Source: XMR\/USD on TradingView<\/p>\n<\/div>\n For example, XMR\u2019s Relative Strength Index (RSI) was 36.77. Also, its Money Flow Index (MFI) returned a value of 38.05.\u00a0<\/span><\/p>\n These indicators showed that coin sell-offs exceeded accumulation as traders let go of their XMR holdings, given OKX\u2019s move.\u00a0<\/span><\/p>\n Confirming the bearish sentiment, readings from XMR\u2019s Directional Movement Index (DMI) put its negative directional index (red) above the positive directional index (green).<\/span><\/p>\n In an uptrend at press time with a value of 23.42, XMR\u2019s negative directional index showed that bears controlled the 12-hour chart.<\/span><\/p>\n Further, XMR\u2019s MACD line was spotted under its trend line and below zero at the time of writing. When an asset\u2019s MACD line crosses below the trend line and falls below zero, it\u2019s generally interpreted as a bearish signal. <\/span><\/p>\n Many traders consider this crossover below zero to be a sell signal, as it suggests that the downward momentum may continue.<\/span><\/p>\n As the price dip continues, short-traders in the XMR futures market have re-entered the market. <\/span><\/p>\n According to data from Coinglass<\/a>, the coin\u2019s derivatives market has seen a 109% growth in trading volume in the last 24 hours and a 23% uptick in Open Interest.<\/span><\/p>\n
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Demand for XMR falls<\/strong><\/h4>\n
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<\/a><\/p>\nShort-traders take advantage<\/b><\/h4>\n
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