Monero

XMR has bounced back from delisting and regulatory issues, surging 4.39% in the last seven days. This recovery could push its price towards $190.<h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8408ce0349cf4779a9afc3031445ba9a.png" />Over the last six months, Monero (XMR) has faced challenges due to delistings from several exchange platforms. In February, Binance (BNB) <a href="https://cryptosheadlines.com/exchange-announces-support-for-ripple-xrp-bullish-signals/" rel="noopener noreferrer nofollow">announced that it would be removing XMR from its exchanges</a>.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/48b4bd386b91478fb73fd6fd5e95e90a.png" /><h3 id="monero-xmr-faces-challenges-but-shows-signs-of-recovery">Monero (XMR) Faces Challenges but Shows Signs of Recovery</h3>On June 10th, Kraken announced the delisting of Monero (XMR) in Ireland and Belgium, following similar actions in the U.K. This move by Kraken and Binance to remove privacy-focused coins like XMR highlights the regulatory challenges confronting cryptocurrencies.In Europe, the passing of the AMLR (Anti-Money Laundering Regulation) is expected to lead to the disappearance of privacy coins from the market. The delistings have significantly impacted XMR’s <a href="https://cryptosheadlines.com/crypto-market-calm-as-bitcoin-price-stabilizes-at-43000/" rel="noopener noreferrer nofollow">market growth and price stability</a>.Despite this tough environment, XMR has shown recovery over the past month. It has gained 12.20% in the last 30 days and 4.39% in the past seven days. Additionally, XMR’s trading volume has surged by 7.61% to $52 million in the last 24 hours.<h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8408ce0349cf4779a9afc3031445ba9a.png" />This recovery has sparked optimism among analysts, with predictions suggesting a potential rise to $190. Crypto analyst Sebastian noted on X (formerly Twitter) that Monero is showing significant market promise, gaining momentum off the 20-day EMA at $165. He sees potential targets of $180 and possibly $190, emphasizing XMR’s resilience and its important role in the crypto ecosystem.<a href="https://cryptosheadlines.com/roaring-kitty-buys-9m-chwy-shares-amid-gamestop-lawsuit/" rel="noopener noreferrer nofollow">Also Read: Roaring Kitty Buys 9M CHWY Shares Amid GameStop Lawsuit</a>Another analyst, ChartMonkey, shared long-term projections, predicting a breakout towards the all-time high in May 2025. He highlighted Monero’s strong potential for exceptional performance and advised doing your own research (DYOR).<img src="https://academy-public.coinmarketcap.com/optimized-uploads/48b4bd386b91478fb73fd6fd5e95e90a.png" /><h3 id="positive-market-indicators-for-monero-xmr">Positive Market Indicators for Monero (XMR)</h3>According to Market Prophit, the crowd sentiment for Monero (XMR) was positive, with a score of 0.089, and Buzz’s score was 1.0853. The Money Flow Index (MFI) has risen from 26 to 54 over the past week, indicating increasing buying pressure and a shift towards a bullish market sentiment, with more money flowing into the altcoin.Additionally, the Relative Strength Index (RSI) has increased from 48 to 55 in the last seven days. This sustained rise in RSI suggests that recent gains are outpacing losses, pointing to growing bullish momentum.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0432077185b84659834b3ddbc112d6af.png" />Source: SantimentSentiment data shows that the <a href="https://cryptosheadlines.com/first-time-in-years-federal-reserve-raises-fed-funds-rate-above-5/" rel="noopener noreferrer nofollow">Funding Rate</a> aggregated by exchanges has been positive for the past week. At press time, XMR’s Funding Rate was 0.01, indicating that investors are willing to pay a premium to hold long positions, reflecting confidence in future price increases.Furthermore, Coinglass reports that XMR has experienced little to no liquidation for both long and short positions. This low level of liquidation suggests that long position holders are maintaining their positions, while few <a href="https://cryptosheadlines.com/polkadot-thrives-as-investors-feel-positive-about-the-market/" rel="noopener noreferrer nofollow">investors are betting against the market with short positions</a>.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/bcb818fc3be344b294385bf55678ad74.png" />Source: Coinglass<h3 id="monero-xmr-price-update-and-projections">Monero (XMR) Price Update and Projections</h3>At press time, XMR was trading at $169.03 after breaking through the $168 resistance level. This <a href="https://cryptosheadlines.com/stablecoin-supply-surge-fuels-potential-breakout-in-altcoin-market/" rel="noopener noreferrer nofollow">breakout suggests a potential</a> rise to the next significant resistance level around $174.In a more bullish scenario, XMR could reach $179 in the short term. However, if the market experiences a correction, the price may decline to a critical support level at $158.<a href="https://cryptosheadlines.com/bithumb-adds-new-altcoin-core/" rel="noopener noreferrer nofollow">Also Read: Bithumb Adds New Altcoin CORE</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/925bc2edc0874a8f8f90c54b7a04bed0.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Monero (XMR) Jumps 5% After Delisting: Is $190 Next?

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Jul 3, 2024

Bitcoin Nears $63K: Could Liquidity Drive Lead to a New BTC ATH?

XRP Price Dip: Should Investors See This as a Buying Chance?

Asia-Pacific RWA Tokenization Platform 2024 Biannual Forum Promises to Shape the Future of RWA To...

Bitcoin Miner Northern Data Plans Dual Nasdaq IPO for Cloud and Mining Divisions

Crypto: Solana Establishes New Records with its Memecoins

User Loses $240,000 in NFT Scam

Join our free newsletter for daily crypto updates!