I cut mine down a few times. I could probably make it snugger at this point but I am fine with it as is.
If it’s too loose it will fall down and off, you want it to stay at the base generally while not being restrictive whatsoever. It needs to be comfortable.
I slowly took off a CM or so at a time over days and weeks till I got the fit I liked.
Everyones anatomy is so different as is their definition of comfort, so it’s important to go slow to find the fit that works best with your personal bodily arrangements.