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- XMR is up 4.39% in the last 7 days.
- A recovery from the delisting and regulatory hurdles could push XMR towards $190.
Over the past six months, Monroe [XMR] It has suffered from delistings by various trading platforms. In February, Binance [BNB] It has announced its plans to delist XMR from its exchanges.
Then, on June 10, Kraken announced the delisting of Monero in Ireland and Belgium after doing the same in the UK.
The move by Kraken and Binance to delist privacy-focused cryptocurrency XMR points to the regulatory challenges facing cryptocurrencies.
In Europe, with the passing of the AMLR law, privacy-oriented cryptocurrencies will cease to exist in the market. The delisting of XMR on these platforms has greatly impacted the growth of the XMR market and price stability.
XMR Rebounds After Delisting
Despite the hostile environment, XMR has maintained its recovery over the past month. In the past 30 days, XMR has gained 12.20% while it has recorded 4.39% over the previous 7 days.
Over the past 24 hours, XMR trading volume increased by 7.61% to $52 million.
The recovery has left everyone optimistic, with cryptocurrency analysts predicting a rise to $190. According to one cryptocurrency analyst, Sebastian XMR is set to see a continued price surge. He shared on X (formerly Twitter) that:
“Monroe (XMR) is showing great promise in the market, gaining momentum from the 20-day EMA at $165. With potential targets at $180 and possibly $190, Monero’s resilience underscores its key role in the crypto ecosystem.”
Cryptocurrencies | ChartMonkey He also shared his long-term expectations, saying:
“Monroe Top Cycle: Expect a Breakout to All-Time High in May 2025. This Powerhouse Coin Has Strong Potential for Outperformance. DYOR.”
What do the fundamentals tell us?
AMBCypro analysis showed that market sentiment remained positive at the time of publication. According to Market Prophit, the audience sentiment was positive at 0.089, and the Buzz Score was 1.0853.
Source: Market Prophit
The Money Flow Index (MFI) also rose from 26 to 54 in the past seven days.
The rising MFI indicator indicated increased buying pressure, which led to a shift in market sentiment towards a bullish outlook and increased fund inflows into the altcoin.
Source: TradingView
The Relative Strength Index (RSI) has also risen from 48 to 55 over the past seven days. This continued rise in the RSI suggests that recent gains have been faster than losses, which could signal increased bullish momentum.
Source: TradingView
Additionally, AMBCrypto’s XMR sentiment view shows that the aggregated funding rate by exchange has been positive over the past seven days.
At the time of publishing this report, the XMR funding rate collected by the exchange was 0.01, meaning investors were willing to pay a premium to hold long positions, demonstrating confidence in future prices.
Source: Santiment
Finally, according to Coinglass, XMR reported little to no liquidation of both long and short positions.
The low liquidation shows that long holders were holding their positions at the time of writing, and few investors were betting against the market with short positions.
Source: Coinglass
is reading Monroe [XMR] Price prediction 2024-25
Can XMR sustain the recovery?
XMR was trading at $169.03 at the time of writing after breaking out of the $168 resistance level. The breakout signaled a rise to the next important resistance level, around $174.
In a more bullish scenario, XMR price will reach $179 in the near term. However, in case of a market correction, it will drop to a critical support level at $158.
