Monero

While the broader cryptocurrency market has headed south today (October 22), the privacy coin XMR has extended its impressive rally. It currently trades just below $650, up 20% weekly and at its highest level since January.
Analysts are optimistic the uptrend is far from over, with some anticipating the asset will hit a new all-time high soon.
<h2 id="how-much-more">How Much More?</h2>
XMR’s latest pump was likely fueled by an announcement coming from Monero. The team <a href="https://x.com/monero/status/2112979275322167321" rel="noopener noreferrer nofollow">revealed</a> on X that GUI v0.18.5.4 ‘Fluorine Fermi’ has been released. In a more detailed disclosure, it <a href="https://www.getmonero.org/2026/10/16/monero-GUI-0.18.5.4-released.html" rel="noopener noreferrer nofollow">said</a> the highlights of this minor upgrade include reopening testnet and stagenet wallets, along with bug fixes.
<blockquote>
 “This release was the direct result of 2 people who worked to put out 8 commits containing 38 new lines of code. We’d like to thank them very much for their time and effort. In no particular order, they are: selsta and tobtoht,” the team added.
</blockquote>
Optimism is now running high, with numerous market observers calling for further gains. X user Sweep <a href="https://x.com/0xSweep/status/2113213308081934602" rel="noopener noreferrer nofollow">predicted</a> that XMR will reach a new historical peak and possibly hit $1,000 in the coming months.
Shortly after, he <a href="https://x.com/0xSweep/status/2112867061378748487" rel="noopener noreferrer nofollow">applauded</a> the asset for having “the best-looking chart right now.” He also reminded his followers of ZEC’s major rally earlier this year, suggesting XMR could repeat the pattern.
Alaoui Capital also issued a bullish forecast. The analyst <a href="https://x.com/Alaouicapital/status/2112942738891268467" rel="noopener noreferrer nofollow">identified</a> a potential multi-year cup-and-handle structure on the token’s chart and claimed it could be on the verge of an ascent toward $1,000.
For his part, Crypto With Gopal argued that the privacy coin is breaking out of a rectangle pattern, with bulls pushing above the $630-$640 resistance zone after weeks of consolidation between $520 support and resistance.
<blockquote>
 “Momentum is heating up as buyers attempt to take control! A confirmed breakout could open the door toward $750. Watch for a successful retest to confirm strength. Bullish momentum is surging – breakout watch is ON,” he concluded.
</blockquote>
<h2 id="the-bearish-signals">The Bearish Signals</h2>
Despite the overall expectations of a further rally, XMR’s exchange netflow serves as a warning that a cool-off may be on the way. According to CoinGlass, inflows have surpassed outflows over the past several days, suggesting investors have shifted from self-custody to centralized platforms, increasing immediate selling pressure.
<figure style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/10/XMR-Exchange-Netflow.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2026/10/XMR-Exchange-Netflow.png" alt="XMR Exchange Netflow" width="1733" height="494"></a>
 <figcaption>
 XMR Exchange Netflow, Source: CoinGlass
 </figcaption>
</figure>
Meanwhile, XMR’s Relative Strength Index (RSI) has risen to almost 70. This means the asset is nearing overbought territory, which is typically seen as a pre-correction signal.
<figure style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/10/XMR-RSI.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2026/10/XMR-RSI.png" alt="XMR RSI" width="1376" height="400"></a>
 <figcaption>
 XMR RSI, Source: RSI Hunter
 </figcaption>
</figure>
In addition, Dr Profit recently <a href="https://cryptopotato.com/trending-privacy-coins-xmr-vvv-and-pha-on-the-run-can-they-keep-pumping/" rel="noopener noreferrer nofollow">cautioned </a>that XMR’s open interest has reached a historic high and noted that the last time the OI jumped this much, the price crashed 66% in just 20 days.
It is important to mention that Santiment <a href="https://x.com/SantimentData/status/2112837772759253162" rel="noopener noreferrer nofollow">rejected</a> that claim. According to the analytics platform, OI closed October 20 at around $198 million, marking the fifth-highest daily close of the past year.
The post <a href="https://cryptopotato.com/monero-xmr-soars-20-weekly-can-it-repeat-zecs-explosion/" rel="noopener noreferrer nofollow">Monero (XMR) Soars 20% Weekly: Can It Repeat ZEC’s Explosion?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Monero (XMR) Soars 20% Weekly: Can It Repeat ZEC’s Explosion?

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