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Challenge Rating (CR) roughly determines the difficulty of a monster. It can range from 0, 1/8, 1/4, 1/2, 1 - 30, higher meaning more difficult.

Maximum monster CR scales with the character's xp (not level), reaching the maximum CR of 30 at character xp of 355000. Any CR below the maximum may also appear.

In general, characters are on equal footing to monsters with CR of character level / 3.
#tip