Monero Surpasses $500 for the First Time in Three Years Amidst the "Jackassy Shock"
Monero (XMR), the leading privacy coin, has surpassed $500 (approximately 730,000 won) for the first time in three years. This is interpreted as a result of internal conflict within rival coin Zacash (ZEC), which led to a sharp price drop, and market interest shifting to the relatively stable Monero.
Monero's price rose more than 20% week-over-week as of Sunday, reaching an intraday high of $500.66 (approximately 731,241,000 KRW). This is the first time since May 2021 and is close to the previous bull market high of around $517.50 (approximately 755,594,000 KRW).
Internal collapse of Jacash... Institutions also side with XMR.
The most immediate cause of Monero's surge is the collapse of Zacash's leadership. Last week, all employees at Electric Coin Company (ECC), which was responsible for Zacash's development, resigned. They cited asset allocation and governance conflicts with Bootstrap, the project's operating organization. As a result, the Zacash price fell by more than 20% during the week, reaching the $360 (approximately KRW 525,564) level over the weekend.
Institutional attention has also turned to Monero. Major institutions such as Grayscale and Coinbase recently evaluated the potential market potential of privacy coins and cited Monero as a prime investment destination in their reports. Their analysis suggests that market demand for "financial privacy" is growing amidst a regulatory environment.
As a result, traders are interpreted to have increased their bets on Monero, which has stable technology and fundamentals, rather than on Jacquitous, which is in turmoil.
At the threshold of historic highs... At the crossroads of 'rebound' and 'reversal'
However, there are also warnings in the market that the market is approaching an inflection point from a long-term perspective. This is because there have been several instances of failures in the $500-$520 range, near the 2021 high.
Chart analysis shows that Monero has attempted to break above the $500 level seven times in the past, but most of them reversed downward, suffering a sharp decline of approximately 40% to 95%. If this happens, the price could fall back to the $200-$270 range (approximately KRW 292,000-394,000). This range overlaps with a past key support level and Fibonacci retracement level.
Conversely, if the price breaks through the $520 resistance level this time, it could signal a breakout of a long-term trading range, similar to major coins like Bitcoin (BTC) and Ethereum (ETH), which have been trending upward since 2025. In this case, the short- to medium-term target price is suggested to be around $775 (approximately KRW 1,131,422) based on Fibonacci extensions.
Differentiated strengths recognizedโฆ but sustainability needs to be confirmed
Monero, which has benefited relatively from the Zack cash crisis, has become the most prominent privacy coin in the market this week. However, technically, it is in a resistance zone where rebounds have been repeated, and whether it breaks through will be a crucial turning point that will determine its future direction.
It will be worth keeping a close eye on Monero for the time being to see whether its recent rally is a one-time event or a sign of a reshaping of the privacy coin market.
๐ก "Don't just look at the price, look at the structure"... Where does the real value of privacy coins lie?
Monero's rise isn't simply a reaction to the "Jackassy shock," but could be a signal of a fundamental and technological shift. Will this rebound continue? Or is it another "reversal"?
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TP AI Precautions
This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
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