It's true that xmr and eth are very correlated recently and I am not sure how to explain this. A sell wall is up it seems that someone wants the price to stay around like 240k to 280k sats.
BTC hedging flows -> 95% ETH, 1% XMR. ETH profit flows -> 10-15% XMR (note XMR serious ramp began when ETH profit-taking began, 3/3). Profit taking + short selling -> XMR price down now, up later, volatility up overall. Traders happy, investors frequently annoyed, sometimes overjoyed.