Monero Price Prediction: XMR Eyes $700 As Demand Skyrockets
Highlights:
- Monero is in an intraday breakout from the $416.20 – 476.69 consolidation
- Breakout now puts prices as high as $700 in focus
- A confluence of positive factors supports such a rally for Monero
Monero (XMR) is starting the week quite strongly relative to other large-cap cryptocurrencies. At the time of writing, Monero was trading at $577.38, up by 19.43% in the day. Monero trading volumes have also shot up intraday. At the time of writing, Monero trading volumes had shot up by 247.81% to stand at $337.55 million.
The rising volumes when the price is pumping are an indicator that demand is rising as investors expect even higher prices for Monero. If volumes continue to rise as they are doing intraday, the odds are that Monero could be headed for a rally to new all-time highs. There are multiple factors that support such price action for Monero in the short to medium term.
Monero Demand Surges As Regulations Become Anti-Privacy
One of them is the fact that cryptocurrency regulations are increasingly becoming anti-privacy. A standout regulation that is making it harder to achieve privacy when investing in cryptocurrencies is the DAC8 reporting standard in the EU. Under DAC8, all cryptocurrency trading platforms that serve EU customers are supposed to report detailed financial data to the authorities for tax purposes.
The regulations are so harsh that some cryptocurrency exchanges, such as ProBit, have closed shop and asked all their customers to withdraw their cryptocurrency holdings by February 2026. Such regulations are increasingly making it unattractive for investors to buy into transparent public blockchains such as Bitcoin.
However, since people are not keen on quitting cryptocurrency, the demand is increasingly flowing into privacy coins. Monero, which is already delisted from all top cryptocurrency exchanges, is attracting this demand because it is accessible in non-KYC platforms and is one of the best when it comes to privacy technology. So good that Monero prides itself as being true money, because it is fungible just like cash. As this demand from investors who do not want their investment data paraded to regulators, Monero could be headed to new all-time highs.
Monero Benefiting From ZCash Drama
The rising demand for privacy coins is also growing in an environment where another top privacy coin is unravelling. Last week, the price of ZCash crashed after the entire team of the organisation behind it left.
While that team is committed to continuing to work on ZCash, the reputational damage is already done. This has left Monero as the de facto leader of the privacy coins market. By default, most of the capital flowing into privacy coins is going into Monero. This puts Monero in pole position to continue making new highs regardless of the weakness across the broader cryptocurrency space.
Monero Long-Term Price Charts In a Clear Uptrend
Monero is also boosted by the fact that its price chart is showing a clear bull trend relative to other cryptocurrencies. On the long-term charts, weekly and monthly, most cryptocurrencies have yet to show a clear trend direction. Monero is an exception as there is a clear uptrend, including higher lows on the weekly charts along a bullish channel. Such price action makes Monero attractive to investors in a market that is increasingly full of directional uncertainty.
Technical Analysis – Monero Breaks Out of Consolidation
Monero is in a bullish breakout after a rally off the $476.69 – $416.20 interday consolidation. If the breakout gains momentum, as evident in the last 24 hours’ price action, Monero could rally to $700 in the short term.
Source: TradingView
On the other hand, if there is an intraday correction, two scenarios could play out. The first is a possible consolidation around the $476.79 resistance, now support. On the other hand, if the price drops and Monero loses the $416.20 support, a correction to prices as low as $300 could follow in the short term. Of these scenarios, Monero is likely to rally to $700, due to the surging demand for online privacy.
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