Monero (XMR), the leading privacy-focused cryptocurrency, has made a strong comeback, rising over 77% in the past four weeks and surpassing Toncoin (TON) in market capitalization. Currently trading around $405–$415, XMR has climbed into the top 20 cryptocurrencies by market cap with approximately $7.46 billion, edging out Toncoin's $7.33 billion. The coin is targeting an $8 billion valuation and a $500 price level, driven by increasing adoption of privacy-focused digital assets despite regulatory challenges.
Monero's recent rally is notable given its delisting from several European exchanges due to regulatory pressure. Nevertheless, the asset has shaken off its association as a crypto favored by cybercriminals, supported by Chainalysis reports highlighting that other major cryptocurrencies like Bitcoin and Tether see more illicit use.
Technical analysis signals that short-term price targets of $465 to $489 are feasible if bullish momentum continues into mid-June. However, inherent volatility could impact this trajectory. The Monero community emphasizes the network’s role in offering financial privacy, decentralization, and freedom outside governmental oversight, attracting a growing user base valuing these features.
Monero's rise also puts it in contention to surpass other veteran altcoins such as Hedera (HBAR), Litecoin (LTC), Polkadot (DOT), and Near Protocol (NEAR), as well as notable memecoins like Shiba Inu (SHIB). Its valuation growth underscores a resurgence in demand for privacy coins and positions Monero as a key player in the evolving crypto landscape, despite ongoing challenges.