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Monero (XMR) drops 8-11% after rapid rally, testing key $500 support level

Technical Signals
20 Sep 2026
Coinpaper
View Source
Bearish
Monero (XMR) drops 8-11% after rapid rally, testing key $500 support level

Monero (XMR) fell between 8% and 11% within 24 hours, dropping from around $575 to near $520 on September 20. This sharp reversal followed a recent surge of over 11%, driven by renewed trader interest in privacy coins. The selloff appears to be profit-taking rather than a reaction to any specific negative news about Monero. Key technical levels now place $500 as a critical support point; holding above it could signal a normal correction, while falling below might expose deeper support levels near $480 and $438. Despite this pullback, Monero remains a strong performer in the privacy coin sector, which has outpaced much of the broader crypto market this year.

Monero (XMR) trades at Rp1.934.530 on Pluang as of Sep 20, 2026 19:21 WIB, showing a 1-day gain of 2.41%. Despite the article's report of an 11% drop in USD terms, Monero's price on Pluang reflects a positive move within the Indonesian market context. The coin's market cap stands at Rp35,12 trillion with a 24-hour trading volume of Rp937,45 million, indicating active trading and investor interest. Typical holding time on Pluang is 32 days, suggesting moderate-term investor engagement.

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