Monero Rallies 8.55% To Briefly Cross $700 And Set New Record

TLDR

• Monero briefly crossed $700, setting a new all-time high before falling to $696
• XMR price gained 8.55% in the last 24 hours, reaching its highest level ever
• Social media activity around Monero surged to record highs, per Santiment data
• Overbought MFI levels suggest possible profit-taking and short-term pullback

Monero (XMR) briefly crossed the $700 mark, setting a new all-time high before retreating slightly. The privacy coin saw a sharp increase in price within 24 hours, rising by 8.55%, but technical signals and rising market sentiment indicate a potential for a near-term pullback.

Monero Sets New Record, Briefly Surpasses $700

Monero (XMR) achieved a new all-time high during an intraday rally, briefly surpassing $700. It later stabilized at $696, marking an 8.55% increase in 24 hours. This price movement placed Monero among the top-performing assets in the market.

The rally pushed XMR above its previous peak of $690. According to TradingView data, the $700 threshold acted as a psychological resistance, with traders reacting quickly after it was touched. Monero’s performance has placed renewed attention on privacy-based cryptocurrencies.

Rising FOMO Accompanies Surge in Monero Price

Santiment data reveals a strong increase in social engagement surrounding Monero. This uptick in attention appears largely driven by fear of missing out (FOMO), with many investors entering the market based on momentum rather than long-term fundamentals.

Past patterns suggest that when hype outpaces actual demand, prices often correct. Historically, spikes in social media mentions have aligned with short-term tops, suggesting current enthusiasm may lead to a cooling-off period.

Technical Indicators Signal Overbought Conditions

The Money Flow Index (MFI), a key momentum indicator, shows Monero entering overbought territory for the first time since September 2025. The MFI combines price and volume data to gauge buying and selling pressure. A high reading typically indicates that a market may be saturated with buying activity.

When MFI crosses into this zone, it often precedes periods of consolidation or decline. With XMR now at record levels, even slight profit-taking could increase selling pressure. Price volatility may rise as some holders choose to realize gains.

Development Activity Lags Behind Market Growth

While the price of Monero has climbed, its development activity has not followed the same trend. On-chain data shows that code contributions and updates have slowed in recent weeks. This has raised concerns among market watchers about whether the rally is backed by long-term technological growth.

Vikrant Sharma, CEO of Cake Wallet, explained that Monero’s unique value lies in its privacy. He said, “Monero is rallying because it offers something most crypto assets don’t: default, non-optional financial privacy.” He added that regulatory actions and reduced exchange availability have strengthened the commitment of core users.

Short-Term Pullback or Extended Rally Ahead?

At the time of reporting, Monero trades around $666 after briefly touching $700. While some analysts believe a price correction is likely, others point to continued demand for privacy-based assets as a reason the rally could continue.

If buying pressure holds and profit-taking remains limited, XMR may break past $700 again. If it does, the next target could be $750. On the downside, if the correction accelerates, XMR may fall back toward $600 or even $560.

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