- Monero price saw a small uptick before pulling back to around $285.
- XMR has demonstrated resilience after negative network headlines over the past month, climbing from lows near $233.
- Will bulls push toward $400, or will bears regain control in the short term?
Monero (XMR) is trading around $272 at the time of writing, as the privacy-focused cryptocurrency’s native token meets resistance again near the $285 level.
Although Monero has recovered notably since falling to $233 in mid‑August, bearish pressure is evident and could drive prices below $270 in the near term.
This cautious outlook comes amid a 29% rise in daily volume, which has exceeded $125 million.
Monero price retreats after testing $285
XMR climbed to $285 during early trading on August 27 as the broader crypto market experienced a modest bounce.
With projects like Synthetix mirroring positive moves in assets such as Ethereum, Solana and XRP, Monero tested sellers at the supply wall around $285 — a level that has limited upside since mid‑August.
The move leaves XMR up roughly 3% at the time of writing, while the token still records losses over the last 30 days, trimmed to about -17%.
Volatility followed reports of a 51% attack affecting the privacy coin Qubic, which sparked trader concern about potential network vulnerabilities.
In addition, Kraken’s temporary suspension of XMR deposits increased selling pressure and pushed the price down to $233.
Despite the setback, Monero’s community and miners reacted swiftly.
For example, the decentralized mining pool P2Pool reduced Qubic’s dominance, helping restore network stability and contributing to XMR’s rebound toward $285.
Price outlook for XMR
Speculative interest in Monero—evidenced by a 28% surge in derivatives volume and a rise in open interest to over $41 million—highlights the token’s recent resilience.
From a technical standpoint, indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are currently more supportive of bulls.
Monero price chart from TradingView
The daily RSI sits above the neutral midpoint, and the MACD recently printed a bullish crossover. Combined with broader market dynamics, the technical picture suggests bearish momentum may persist, but buyers have enough conviction and short‑term support to fuel a rebound.
On a successful rally, a move to $300 could open the path toward $344 and potentially $400.
Conversely, regulatory actions or renewed weakness across markets could push Monero below $250, with possible support zones around $230 and then $200.
Analysts at QCP note that the macro environment and broader risk de‑leveraging may weigh on Bitcoin, which would likely pressure altcoins as well.
“Crypto has softened as genuine supply from large holders weighs. $BTC conviction could be further tested if US equities fall, increasing the risk of another wave of TradFi de‑risking,” the analysts wrote.