Key takeaways

• $XMR is down 2% and could record further losses in the near term
• The Fed’s hawkishness weighs on the broader crypto market.

Privacy coins remain under pressure amid weak risk appetite

Monero ($XMR) continued its downward trajectory on Friday as bearish sentiment persisted across the cryptocurrency market.

$XMR slipped for a third consecutive session, remaining below the $330 level.

The broader crypto market came under renewed pressure following remarks from Federal Reserve Chairman Kevin Warsh during his first post-meeting press conference on Wednesday.

While the Federal Open Market Committee (FOMC) left interest rates unchanged, in line with market expectations, investors reacted negatively to the central bank’s…