Monero hits $721.99 all-time high as privacy demand fuels rally

Monero (XMR) reached a new all-time high of $721.99 on January 14, prompting questions about whether the recent rally will continue or cool off.

The surge has been rapid: the article says XMR rose about 62% in the past week and more than 74% month-to-date. Monero pulled back slightly but remained above $700, trading near $717 after its earlier peak.

According to the article, the rally is being driven by growing demand for a privacy-focused cryptocurrency and tighter KYC/AML regulations worldwide, with on-chain data showing steady transfers, active miners and genuine trading activity. The article also notes the EU is planning to ban privacy coins and anonymous crypto accounts from 2027, a prospect that the piece says has prompted some investors to buy privacy coins ahead of the proposed ban.

Looking ahead, the article identifies key support around $700 and says CoinCodex expects XMR could reach about $754.5 within a month. It also cautions that some indicators point to overbought conditions and a short-term pullback is possible, with $600 cited as a key downside support; overall the article describes the longer-term outlook as bullish if the $700 area holds.

Key Topics

Crypto, Monero, Privacy Coins, Kyc/aml Regulations, European Union, Coincodex