MONERO RALLY STRENGTHENS: RARE SETUP COULD PUSH XMR TO $1,000
Monero (XMR) jumped to a record high on January 15, driven by growing interest in privacy-focused cryptocurrencies.
XMR Soars to $798, Reaching New All-Time High
The Monero token climbed to $798, marking a massive 713% increase from its lowest point in 2023. Its market cap has now surpassed $12 billion, making XMR the 12th largest cryptocurrency by market value.
Privacy Tokens Gain Momentum Across the Market
The recent surge in XMR reflects a broader trend in privacy coins. Dash has risen over 100% this week, while Decred and Humanity Protocol gained 60% and 30%, respectively, over the past seven days. Overall, the market capitalization of privacy tokens has increased to $73 billion.
Trading Activity Explodes as Volume and Futures Hit Records
Monero’s 24-hour trading volume surged to $465 million. At the same time, futures open interest reached a record high of over $275 million, indicating strong trader confidence.
Hyperliquid Listing Boosts Price Further
XMR also rallied after Hyperliquid listed the token, allowing traders to go long or short with up to 5x leverage. A whale quickly reacted by opening a leveraged trade worth $2.27 million, indicating bullish expectations. Another trader placed a long position worth over $5.2 million at an average price of $729.
Rally Linked to Legal Wins for Privacy Industry
The Monero rally began in 2024 after the Tornado Cash case gained attention. US authorities had accused Tornado Cash of money laundering and imposed sanctions against it. Users then sued the government, arguing that immutable contracts should not be treated as “property.” The court agreed, giving the privacy sector a major legal victory.
Trump Administration Lifts Sanctions, Rally Accelerates
In March, the Trump administration lifted sanctions on Tornado Cash, marking a major win for the privacy industry. The rally accelerated further in the fourth quarter, driven by growing demand for privacy coins like Zcash (ZEC).
XMR Price Technical Analysis (Detailed Rephrase)
Monero’s weekly chart shows a powerful uptrend after a major recovery from last year. The token’s lowest point was $97 in 2024, and it has now surged to a new all-time high of $798, marking a strong bullish momentum.
$7.5B IN WHALE INFLOWS HIT BINANCE—COULD THIS SHIFT BITCOIN’S MARKET TREND?
The key technical development is that XMR has cleared the $517 resistance level, which also represents the upper boundary of a cup-and-handle pattern. This chart formation is widely regarded as a bullish continuation signal, suggesting that the price may continue rising after breaking out.
Cup-and-Handle Pattern Breakout Explained
The cup-and-handle formation started with a deep drop and a gradual recovery, creating a “cup” shape. The depth of this cup was approximately 85%, indicating a significant retracement before the breakout.
After breaking above the upper rim of the cup at $517, the next technical target is calculated by adding the same depth to the breakout point. This gives a projected price target of around $965.
What $965 Means for XMR?
Reaching $965 would be a major milestone and would increase the likelihood of Monero moving toward the $1,000 psychological level. In technical analysis, breaking the target often triggers additional buying as traders chase the next big resistance level.
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Key Invalidating Level
The bullish outlook will be considered invalid if the price falls back below the $517 level, which is the top of the cup pattern. If this happens, it could indicate that the breakout was false and that the market may face a deeper correction.
