Monero (XMR) Nears $700, but Rising FOMO Raises Pullback Risk

Monero (XMR) reached an intraday all-time high of $690, driven by intense investor attention and social hype, signaling high Fear Of Missing Out (FOMO). Vikrant Sharma, CEO of Cake Wallet, noted that Monero's value is increasingly tied to its default, non-optional financial privacy, which is becoming more strategic amid global surveillance efforts, despite regulatory pressures.

However, signs of overheating are present, as social engagement is accelerating faster than underlying fundamentals and development activity. The Money Flow Index (MFI) has entered overbought territory for the first time since September 2025, historically preceding profit-taking phases. Given the record-high prices, the incentive for holders to realize gains is increasing.

At the time of writing, XMR traded near $666, just shy of the $700 psychological barrier. Technical indicators suggest a rising risk of a reversal, potentially dragging the price toward $600 or even $560 if profit-taking accelerates. A decisive break above $700, however, could extend the rally toward $750.

(Source：BeInCrypto)