Monero Price Rebounds Strongly as Shorts Capitulate: Where is XMR Headed Next?

Monero price rally is stealing the spotlight today. While most major cryptocurrencies remain under pressure, XMR has surged more than 12% in a single session, climbing to the $488 region. The move did not emerge from thin air. It followed a sharp leverage reset across derivatives markets, where short positions were forced out as price accelerated through nearby liquidity levels. This rebound has turned heads because it arrived against the broader market trend, a sign that XMR’s move is being driven by internal market mechanics rather than general risk sentiment. As price lifted, momentum built quickly, feeding into a cascade that pushed Monero back toward the upper end of its recent range.

A decisive close above $500 would likely trigger another round of short covering, opening the path toward the $520-$550 range, where the next concentration of leverage appears on the map. On the downside, a loss of $450 would weaken bullish momentum, exposing the lower channel support near $420-$430.

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