Privacy token Monero (XMR) reached its highest level in seven months, with its price briefly nearing $530, representing a 43% monthly jump and a market cap close to $10 billion, making it the 13th-largest cryptocurrency. The main catalysts identified for this rally were THORChain’s network upgrade introducing native XMR swap support and the decisive break above the $410 resistance level. Despite being delisted by Binance in early 2024 and remaining unavailable on Coinbase, the token is still accessible on platforms such as Kraken, KuCoin, and MEXC, with exchange net flows showing outflows exceeding inflows, indicating investors moving to self-custody and reducing immediate selling pressure. However, the RSI reading at approximately 77 signals overbought conditions, suggesting a potential short-term correction risk.
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