Monero (XMR) Plunge

Monero (XMR) experienced a significant decline, falling 63.7% from its all-time high of $798 in just 22 days, following a parabolic rally in January. The drop was largely influenced by Bitcoin's loss of bullish momentum and subsequent sell-off. Social media engagement indicated crowd FOMO, while technical indicators like the A/D indicator and moving averages signaled strong bearish pressure. Key support levels, such as the 78.6% Fibonacci retracement at $352, failed to hold, turning previous supports into supply zones. Traders should expect continued downtrends, with potential short-term bounces possibly retesting $390–$420 or $500 before further declines. The overall outlook remains bearish, and buying at current levels is considered highly risky.

This week saw significant losses in the crypto market, with Bitcoin and Ethereum dropping around 10% and 13%, respectively. Despite the bearish trend, some tokens posted gains. Memecore (M) recovered 23% from weekly lows but later gave up some gains. MYX Finance (MYX) rose roughly 18%, showing relative stability. Midnight (NIGHT) rebounded 17% but lacked sustained momentum. On the losing side, Binance Coin (BNB) fell about 15%, remaining oversold. Monero (XMR) dropped 20% with weak recovery signs, and ZCash (ZEC) declined over 30%, struggling to regain traction. The market remains volatile and sentiment-driven, emphasizing the need for cautious research.

Despite widespread delistings from major exchanges like Binance, Coinbase, and Kraken throughout 2025, Monero (XMR) has demonstrated significant resilience. On-chain transaction activity and daily network usage have remained consistent, indicating sustained demand. A report from TRM Labs highlights that Monero’s adoption is growing, particularly in darknet marketplaces, where 48% of new platforms in 2025 accepted only XMR as payment. While most ransomware payments still use Bitcoin for liquidity reasons, Monero’s strong privacy features—such as stealth addresses, ring signatures, and confidential transactions—continue to attract users seeking anonymity. Despite reduced accessibility on regulated exchanges, network activity has stayed above pre-2022 levels, and ongoing protocol upgrades support its niche as a leading privacy-focused cryptocurrency.

A major whale has accumulated 7,189 XMR (worth approximately $1.47 million) through structured limit bids between $250 and $315, indicating deliberate accumulation rather than speculative trading. Despite persistent selling pressure from aggressive market participants, Monero (XMR) has held key support at $290, trading around $337 within a tight $290–$360 range. The RSI suggests balanced momentum, while liquidation clusters around $320 and above $350 pose risks for sharp price movements. The ongoing tension between visible selling and hidden demand absorption may lead to a significant breakout once one side loses control, with a move above $350 potentially triggering a short squeeze.

Qubic has entered phase 2 of its Dogecoin mining rollout, shifting miner rewards from Monero (XMR) to DOGE-based incentives. Starting with epoch 209, computors can operate in either XMR or DOGE mode, with only the higher-yielding contribution counted per index—effectively phasing out XMR if DOGE is more profitable. All block rewards are used for QUBIC buybacks, which are then distributed proportionally based on Dogecoin shares submitted. This transition, part of a three-phase plan announced in March, aims to fully migrate from XMR to DOGE, allowing parallel operation of DOGE mining (via Scrypt ASICs) and AI training (on CPUs/GPUs). Phase 2 introduces weekly reward windows, aligning with Qubic’s goal of scaling toward full-capacity dual-workstream operations.