Monero

The world’s largest cryptocurrency exchange, Binance, has reported the delisting of Monero (XMR), resulting in a significant price drop of over 25% within a few hours. However, the decision to delist is not exclusive to Monero; three additional tokens are also set to be removed from the exchange. The reason to delist Monero (XMR) 
The decision to delist Monero is solely aimed at safeguarding Binance users. Previously, Binance had issued warnings to Monero to uphold high standards, which were not met. As stated in a post on X (previously Twitter), the exchange conducts periodic reviews of every digital asset listed. If any of these digital assets fail to meet Binance’s criteria or industry norms, thorough research is undertaken, and those tokens may potentially be delisted.
In this rapidly evolving cryptocurrency landscape, ensuring the safety of investors should be a top priority for any cryptocurrency exchange. However, Binance’s decision to delist the $2.3 billion market Monero indicates its commitment to user protection. This is not the first time <a href="https://news.todayq.com/binance-delists-these-15-spot-trading-pairs-citing-liquidity-and-volume-issues/" rel="noopener noreferrer nofollow">Binance has delisted</a> certain tokens from the exchange, earlier in January 2024, dozens of cryptocurrencies were already delisted for not meeting industry standards.
In the recent delisting report, Binance announced the removal of ANT, MULTI, VAI, and XMR tokens on February 20, 2024. However, on January 4, 2024, ANT and VAI tokens were added to the Monitoring Tag list. This tag list highlights that these tokens are more volatile and risky compared to other listed cryptocurrencies. XMR technical analysis and its current price&nbsp;&nbsp; 
As of the current writing, Monero’s (XMR) price is trading near $125, and within just 6 hours, its price has dropped by over 25%. Examining XMR over a longer period, in the last 7 days, due to the recent delisting, its price has experienced a drop of over 20%, and over the last 30 days, it has seen a downside momentum of over 17%. 
According to expert technical analysis, when observing XMR on a weekly time frame, it appears to have been moving in a channel pattern between $118 and $176 for the last 600 days. However, at present, XMR is at its lower level. If the price of XMR breaks down from this channel pattern and any daily candle closes below $118, then in the coming days, a significant price fall in XMR may be anticipated.
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Monero (XMR) falls by 25%, What’s happening?

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