Monero (XMR) Rally Gains Momentum: Is a Bigger Breakout on the Horizon?

Monero is climbing again. XMR trades close to $555 after a daily gain of approximately 4%, and the price is now pressing against a Fibonacci resistance line at $558. Buyers have been in control for weeks, and the move is starting to look like more than a brief bounce. The rally took off in August, when XMR jumped 43% in a single month and passed $500 for the first time since January. The price first broke above the $410 level, which had held back every attempt for months. A THORChain upgrade helped, as it lets users swap XMR across chains without a central exchange. That matters for a coin that is being pushed off many large platforms.

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