Monero Surges More Than 10% And Reaches Powerful 7-Month High

TL;DR

• Monero surged more than 10% to nearly $530, reaching a seven-month high as 24-hour trading volume jumped 255% to about $240.7 million.
• More than half of tracked volume came from KuCoin’s XMR/USDT pair, while exchange outflows suggested reduced immediate selling pressure through greater self-custody.
• RSI readings above 70 signal stretched momentum, while conflicting reports about THORChain’s native XMR support leave the rally’s fundamental catalyst uncertain as traders assess its durability.

Monero surged more than 10% on August 31, briefly approaching $530 and reaching its highest level since January as most major cryptocurrencies posted modest losses. XMR traded near $525 afterward, extending its monthly gain to roughly 43%, while market capitalization climbed toward $10 billion and lifted the privacy coin to 13th among cryptocurrencies by value. The striking divergence is that Monero accelerated while the broader market cooled. Rolling 24-hour trading volume reached about $240.7 million, up 255% from the prior day, confirming that the price move arrived with a dramatic increase in overall turnover.

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