Monero Surpasses $7.6 Billion Market Cap, Enters Top 25 Cryptocurrencies
Monero (XMR) has regained prominence, surpassing Litecoin (LTC) and Toncoin (TON) to enter the top 25 cryptocurrencies by market capitalization. Key points include:
- XMR's market cap now exceeds $7.6 billion, compared to TON's $7.43 billion and LTC's $7.33 billion.
- The price rose over 80.51% in the past month, currently around $412, a peak not seen since early 2021.
- Despite being delisted from major exchanges like Coinbase and Binance, trading volume mainly occurs on KuCoin, HTX, and MEXC.
- Renewed interest in privacy-driven crypto amid regulatory scrutiny on anonymity tools has boosted XMR's value.
- Speculation about an upcoming privacy upgrade and potential relisting on major exchanges is driving demand.
- XMR has gained for seven consecutive weeks, with a nearly 300% increase from its 2024 low of $186.
Technical analysis indicates potential retracement levels at:
- $345.85 (0.236 Fib)
- $315.49 (0.382 Fib)
- $290.95 (0.5 Fib)
- $266.40 (0.618 Fib)
The MACD shows strong bullish momentum but signs of overheating are emerging, while selling pressure might be building beneath the surface. Resistance zones are noted between $420–$430, with potential for $450+ if upward momentum continues.
