XMR Holder Locks in $3.15M Profit After 23 Days of Leveraged Bets

A top XMR holder has made a significant profit in just 23 days through a leveraged bet.

The position peaked at 34,000 XMR worth $16.72 million on August 9 and was closed with a realized gain of $1.637 million yesterday, leaving the trader with 16,000 XMR still open at a 4x leverage.

The current price action shows XMR within the Bollinger Bands, trading at $118.7 with upper resistance at $125.56 and lower support at $113.9.

An analysis of the technicals suggests that a healthy retracement toward the 50-EMA support at $123.34 is probable before any continuation of the price action.