In a broadly declining cryptocurrency market on October 22, Monero (XMR) rose 20% over the past week to just below $650, its highest level since January. The advance followed the release of Monero graphical interface version 0.18.5.4, named “Fluorine Fermi,” which reopened testnet and stagenet wallets. Several analysts anticipate further gains and even a new record high, with some citing a potential $1,000 target. However, exchange inflows have exceeded outflows, while the relative strength index is approaching 70, indicating a risk of a correction after the rapid rally.
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