On the one hand the price is very high and volatile at the moment, so be prepared to lose money quickly.
On the other hand its an excellent long term investment because its a hard monetary asset which serves an important and organic role in the economy (decentralized private transactions) with a lot of room to grow alongside its mining industry, bitcoin and the wider economy.
It has 0 counterparty risk if you hold the keys yourself (as most holders do) so you don't have to worry about any government or institution imposing unfavorable terms later on. Its useful for privacy but not a magic bullet; its safe to assume monero transactions cannot ordinarily be traced. The exceptions are metadata and poison transactions.
Consider trying 30:30:30 btc:xmr:paxg
Paxg is tokenized gold so it DOES have counterparty risk. But if btc and monero dump then you can use that gold to buy more (rebalance). Or if they do very well, you can buy more gold to secure your gains. This is much safer than holding any one of those assets alone. Also look into index funds if you're still interested in diversifying further; you can get them on chain!