🔥🔥🔥 #Monero Rallies 110%, Eyes $300 as Privacy Coins Gain Momentum


Monero Price Surges, Eyes Parabolic Rally

- Monero (XMR), the leading privacy-focused cryptocurrency, has been on a remarkable five-week rally, reaching levels last seen in April 2022. On January 23, XMR was trading at $217, marking a 110% increase from its 2024 low.

Catalyst for Monero’s Rebound

- The surge followed a landmark US court ruling in favor of Tornado Cash (TORN), a crypto mixer previously sanctioned for alleged money laundering. This ruling positively impacted privacy coins like Monero, Dash, and #zcash , which have faced scrutiny and delistings by major exchanges such as Kraken, Binance, and Coinbase due to regulatory pressures.

- Monero’s privacy features, including ring signatures and stealth addresses, ensure transaction anonymity, positioning it as a leader in privacy-focused cryptocurrencies. The court's decision has sparked speculation that Monero could be relisted on mainstream exchanges, further boosting its price and hash rate. Currently, Monero’s hash rate is 3.55 GH/s, down from the year-to-date high of 4.10 GH/s.

- Additionally, the inauguration of Donald Trump as the US President has fueled optimism for a more crypto-friendly environment. Trump’s support for cryptocurrency and the appointment of regulators like Mark Uyeda and Paul Atkins could create favorable conditions for privacy coins.

Monero Price Analysis

- Since 2022, Monero had been consolidating between $117 and $181 as regulatory challenges intensified. This prolonged consolidation phase resembles Ripple (XRP)’s two-year accumulation before its breakout in late 2023, hinting that Monero may also be transitioning into a markup phase.

- XMR has surged past the $181 resistance and its 50-day MA, with an ADX of 22 signaling strong momentum. Analysts expect Monero to target $300 and potentially rally 140% to its $515 ATH, supported by bullish sentiment around privacy coins.

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