Despite a major chain re-org, XMR continues climbing | Credit: Hameem Sarwar
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Key Takeaways
XMR’s price surged 12%, reclaiming $320 after Monero suffered its largest-ever rollback.
Instead of crashing, Monero’s trading volume nearly doubled from $65 million to $123 million.
XMR broke out of a symmetrical triangle, with green candles, and is looking to extend beyond $400.
Monero (XMR) price is on the rise, having gained over 12% in the past 24 hours, reaching $320, according to CoinGecko.
The rally comes despite Monero experiencing the largest chain rollback in its 12-year history.
Over the weekend, the network reorganized 18 blocks, erased 36 minutes of transaction history, and invalidated 118 transfers.
Remarkably, the altcoin’s resilience shows that market confidence remains intact, despite a rare technical setback. But what is next for the XMR’s price?
XMR Defies Monero Blockchain Shock
On Sunday, Sept. 14, independent monitors reported that Monero’s mainnet experienced an 18-block reorganization (re-org).
In blockchain terms, a re-org occurs when the network discards part of its chain and replaces it with an alternative version.
In this case, the rollback erased 36 minutes of transaction history and invalidated 118 transfers.
Such profound reorganizations are rare for Monero, making this the largest chain rollback in the network’s 12-year history.
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“Since it was a re-org in excess of 9 blocks, the 10-block lock did not protect all transactions in the orphaned chain from invalidation. About 117 transactions were invalidated (check this with print_pool_stats at the console). Re-orgs in excess of 9 blocks are unacceptable,” The Monero Research Lab handle stated.
Despite the scale of the incident, Monero’s network stabilized quickly, and its native token, XMR, showed little negative reaction. Instead, XMR’s price pumped and currently trades at $320.77.
From an on-chain perspective, Monero’s trading activity has also surged. Before the chain re-org, daily volume was under $65 million.
At press time, however, volume has nearly doubled to $123 million. This spike in activity suggests that, despite the incident, traders are showing renewed interest in XMR.
Should this trend remain the same, XMR’s price might trade much higher in the coming days.
XMR Price
On the technical side, Monero’s daily chart paints a bullish picture. The altcoin has now printed six consecutive green candlesticks, a strong sign of sustained buying pressure.
This streak began after XMR’s price broke above the upper trendline of a symmetrical triangle, signaling a breakout from consolidation.
Momentum indicators back the move. The Chaikin Money Flow (CMF) has climbed above the zero line, showing that inflows are outpacing outflows and capital is rotating into the asset.
At the same time, XMR’s price has pushed above the 20-day Exponential Moving Average (EMA), further reinforcing the bullish trend.
Should this remain the same, XMR might breach the resistance at $359.52. If successful, this could drive the altcoin to reach $419.12.
In a highly bullish scenario, it could hit $591.21. However, failure to clear the overhead resistance might invalidate this outlook, as XMR might drop to $247.02.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
