Monero (XMR) Soars 20% Weekly: Can It Repeat ZEC’s Explosion?

"The chart has a potential measured move towards $1,000," one analyst stated. While the broader cryptocurrency market has headed south today (October 22), the privacy coin XMR has extended its impressive rally. It currently trades just below $650, up 20% weekly and at its highest level since January. Analysts are optimistic the uptrend is far from over, with some anticipating the asset will hit a new all-time high soon. How Much More? XMR’s latest pump was likely fueled by an announcement coming from Monero. The team revealed on X that GUI v0.18.5.4 ‘Fluorine Fermi’ has been released. In a more detailed disclosure, it said the highlights of this minor upgrade include reopening testnet and stagenet wallets, along with bug fixes. “This release was the direct result of 2 people who worked to put out 8 commits containing 38 new lines of code. We’d like to thank them very much for their time and effort. In no particular order, they are: selsta and tobtoht,” the team added. Optimism is now running high, with numerous market observers calling for further gains. X user Sweep predicted that XMR will reach a new historical peak and possibly hit $1,000 in the coming months. Shortly after, he ...