Monero (XMR) is trading flat around $231 this week after briefly rising by 4.72% to $242.7 earlier. The token maintains a steady uptrend, having surpassed key resistance levels at $175 in December and $195 in January. It is now retesting the $225 resistance from above, with price targets set at $275–$285.
Unlike most cryptocurrencies, Monero is less affected by broader market volatility due to its strong focus on privacy and fungibility. Optimism around privacy coins surged after the U.S. Treasury lifted sanctions on Tornado Cash last December. Although Monero was previously delisted from Binance due to regulatory concerns, the easing of restrictions suggests a more favourable outlook for the project going forward. If momentum continues, XMR could push toward its next resistance levels in the coming weeks.
