Monero drops over 7%, risks deeper fall to $500 amid rising liquidations and bearish pressure

Monero (XMR) fell more than 7% to around $553, reversing recent gains above $600 and raising concerns of a further drop toward $500. The decline is driven by leveraged traders facing losses and increased liquidations, with open interest in futures contracts shrinking. Key support levels to watch are $540 and $500, while recovery above $560 could target $600 and higher resistance near $630. A pending THORChain integration may boost Monero's accessibility but is not yet live, leaving short-term volatility risks intact.

While the article highlights a recent 7% drop in Monero's price to around $553, on Pluang Monero trades at Rp1.934.530 with a positive 1-day change of 2.41% as of Nov 10, 2026 21:24 WIB. This price contrasts with its recent volatility and suggests some recovery momentum among Pluang investors. The typical hold time of 32 days indicates moderate investor confidence despite short-term fluctuations.