I share similar thoughts about XMR, however it's one of those coins that everyone agrees they like the fundamentals, maybe it won't ever come down in BTC price? Even Andreas mentioned it in a video the other day as an altcoin he likes. On the Bitcoin Price Equivlance it's about half the price of similarly ranked Cardano/Litecoin/Neo and almost 1/6th the price of Stellar.
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It may never come down and that's fine - It's my largest altcoin holding, so will benefit either way. It's one of the only ones I invest in periodically almost regardless of price.