Monero (XMR) Flips Toncoin, Is XMR Price To $500 Feasible?

Key Insights:

• Monero’s huge comeback move supports its rise in crypto ranking as the asset aims for an $8 billion market cap.
• XMR evolution as a tool for currency privacy and decentralization is poised to gain traction.
• XMR is aiming for $500 despite volatility and regulatory hurdles.

Monero (XMR), the biggest privacy-driven cryptocurrency, has rebounded as its price surge helped edge out Toncoin (TON) in market capitalization.

According to market data, XMR increased by a staggering 77.22% in the last four weeks to reach $400.

Monero Climbs Over 77% in Four Weeks, Outpaces Toncoin

The skyrocketing of XMR’s value pushed its total market cap above that of TON. now, Monero has joined the list of top 20 ranked assets in market cap, displacing Toncoin to the 21st position.

Monero currently has a total market cap of $7.46 billion compared to Toncoin with $7.33 billion.

The asset looks poised to climb to the $8 billion capitalization if the ecosystem sustains the current momentum.

Such a development would signal a milestone achievement for Monero and a huge comeback for the untraceable digital asset.

This could mean that Monero will continue climbing and displace other assets like Hedera (HBAR), Bitcoin Cash (BCH), and possibly Shiba Inu (SHIB).

Notably, if Monero continues its current trajectory towards $500, many assets will give way. For instance, if XMR hits a price of $460, its market capitalization would be over $8.48 billion.

This is more than the current market cap of the 17th-placed Shiba Inu, which has a total market cap of $8.39 billion.

XMR, as one of the most acclaimed altcoins in the crypto space, can push for the $8 billion market cap.

Adoption Grows as XMR Embodies Financial Privacy Principles

Monero may achieve this target as adoption is rising due to its privacy-focused approach.

Interestingly, even before the emergence of digital assets like Monero, economists and other notable individuals imagined a currency capable of protecting users’ privacy as it operates outside state control.

Monero Maverick, a community of XMR holders on X, shared a video of Milton Friedman, a notable economist who advocated for a free market, in a post.

Friedman particularly canvassed for private digital cash outside government control, a need Monero meets for its users.

Hence, many users have come to view Monero as not just a cryptocurrency but a movement that is meeting humanity’s needs in terms of financial freedom, decentralization, and privacy.

Can Monero Hit $465–$489 Target Amid Volatility?

As of this writing, Monero price was trading at $405.60, representing a 1.37% decline in the last 24 hours. However, XMR peaked at $420.38 in earlier trading.

However, within this time frame, XMR has been hit by volatility, resulting in lower highs that have reduced it to its current price.

Despite the market fluctuations, XMR investors have kept it in the green zone of trading as volume is up slightly by 0.74% to $113.44 million.

Remarkably, Monero achieved this price level despite a strict delisting policy. Due to regulatory issues, many European crypto exchanges have removed the coin as one of their listed assets.

In October 2024, Monero dropped by 6.55% in price after Kraken’s delisting announcement hit the market.

Additionally, Monero has managed its image well, even though many consider the coin favored by cybercriminals.

According to Monero’s technical indicators, though the coin is tilting towards the “overbought zone,” XMR could reach between $465 and $489 in the short term.

This remains achievable by mid-June if the bullish conditions continue, as more users demand privacy coins.

However, if volatility wins, this could impact the projections for Monero’s upward climb.